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This US$29 billion ADR listing will complete settlement on July 14, after which funds are likely to flow into the Korean market. According to the source, the government expects SK hynix to hedge in advance through forward contracts. In a text message, SK hynix stated that the company is "considering various options," but "cannot confirm specific details at this time." (Bloomberg)

BlockBeats News, July 3rd, Citigroup lowered its annual oil price forecast range, pointing to a lower range. It believes that as the transportation through the Strait of Hormuz resumes, the previous disruptions caused by geopolitical conflicts are quickly fading away, and the market will be led by supply and demand fundamentals once again. Citigroup analysts, led by Francesco Martoccia, stated in the report: "With the fading of the Hormuz disruption, fundamentals are rapidly regaining dominance. Shipping traffic is returning to normal, major buyers are still absent from the market, the physical crude market is sharply weakening, and inventory reductions are well below expectations." Based on this assessment, Citigroup expects the Brent crude oil price to potentially fall to around $60 per barrel by the end of the year and advises selling during the summer rebound, with a target range of $60 to $65.

Jinse Finance reported that on July 3, as the S&P 500 Index and Nasdaq Composite Index have recently reached new record highs, the US stock market is in the midst of a frenzy driven by earnings expectations. However, behind the strengthening indices, the rapid pace at which Wall Street analysts have raised corporate profit forecasts has sparked deep concerns within the industry about an “earnings bubble.” The latest data shows that analysts currently expect the profits of S&P 500 Index constituent companies to grow by 25% over the next year. The speed at which this optimism has expanded is staggering—over the past six months, consensus forecasts for forward earnings have been revised up by nearly 20% in total, representing a rebound in strength not seen since the economy’s revenge recovery from the pandemic shock in 2021.GMO asset allocation co-head Ben Inker pointed out that current profit forecasts are in a “very unconventional” growth pattern. He warned that the market will eventually realize that these overly optimistic predictions cannot be converted into reality, and at that point an adjustment will be unavoidable.