forex cross rate

Azerbaijan Ministry of Energy: Natural gas exports to Europe from January to June were 5.9 billion cubic meters.

Ukrainian President Zelensky: In Odessa, a Russian missile attack on a residential building at night killed two people and injured five others, including three children.

As investors, especially retail investors, use financing and leverage to buy stocks in large numbers, markets such as Japan and South Korea have seen a significant increase in volatility recently. Michiko Sakai, Japan Equity Portfolio Manager of Morgan Asset Management, said: "Although it is risky to severely underweight the artificial intelligence sector, at the same time, there are also risks to continue to significantly increase your holdings in AI and expand investment exposure." She pointed out that the AI ​​market is no longer limited to a few "AI concept stocks", but has expanded to multiple fields such as AI infrastructure, memory chips and components, providing investors with more layout options. but, She also emphasized that the market is now increasingly sensitive to valuation levels and the sustainability of corporate profits. Michiko Sakai believes that AI investment is expected to continue to grow in the future, but the question that the market really needs to answer is: "Should the valuation of AI companies be based on short-term profits or on long-term growth expectations?"

UK Maritime Trade Action Office: Crew safety, no environmental impact reported.

Tasnim News Agency: An Iranian citizen was killed in a US attack on the Chabahar port.

As investors worry about whether the artificial intelligence-driven rally can be sustained and have lifted previously accumulated leverage on technology stocks, the stock price of Japanese memory manufacturer Kioxia Holdings fell by more than 16% on Friday. Asian stock benchmarks fell broadly, with artificial intelligence-related stocks suffering a sharp sell-off. NI225 once fell by more than 6%, hitting an intraday low in more than a month; Taiwan's weighted index closed down nearly 6.5%. South Korea's stock market was closed for a holiday. Stock indexes in Australia, Hong Kong and Singapore also fell. Kioxia once hit the daily limit, dragging down Tokyo stocks. As one of the important beneficiaries of the AI ​​market, the market value of memory chip manufacturer Kioxia has risen sharply this year, once reaching 60 trillion yen (approximately US$369.5 billion). However, as the stock price fell sharply on Friday, Kioxia's market value shrank to 28 trillion yen. Compared with the intraday historical high hit on June 22, its stock price has been cut by half. JPMorgan Chase’s quantitative strategy team stated that the market has become overly pessimistic again recently. Views such as "the AI ​​boom is about to end" and "the AI ​​bubble is bursting" have received renewed attention. The team pointed out in the latest report: "Although the supply and demand adjustment of AI concept stocks may be coming to an end, those AI stocks that rely on market sentiment and funds to drive their rise may still need more time. Only when these pessimistic narratives are fully released can they truly bottom out."