Stock Market Performance:
- The three major indexes opened mixed: The Shanghai Composite Index opened up 0.02%, the Shenzhen Component Index opened down 0.10%, and the ChiNext Index opened down 0.04%.
- Market Performance: Sectors like cultivated diamonds and vitamins led the gains, while Kimi concept and high-speed connectors were among the biggest losers.
- Strong Stocks Retreating: Multiple stocks opened with a limit down, including Ai Ai Precision Engineering, Boxin Shares, Dynamic New Science & Technology, Dali Pharmaceutical, Xianheng International, and Xinya Electronics.
Taobao Reduces Holdings in XPeng Motors:
- Alibaba's subsidiary, Taobao China Holding Ltd., completed the sale of 33 million ADS of XPeng Motors, reducing its shareholding ratio from 9.23% to 4.94%, cashing out approximately 310 million USD (about 2.26 billion yuan).
Hong Kong Stock Market:
- The three major indexes all opened higher: the Hang Seng Index was up 0.45%, Hang Seng Technology Index increased by 0.91%, and Hang Seng China Enterprises Index was up 0.99%.
- Tech stocks saw mixed performances, with Lenovo up more than 4%, Baidu nearly 4%, Xiaomi about 1%, and Alibaba down more than 1%. Oil stocks were up, with PetroChina rising more than 1%, and auto stocks generally rebounded, with Li Auto up more than 3%.
Currency Market Dynamics:
- The midpoint of RMB to USD was adjusted to 7.0943, up 53 points.
- Offshore RMB rose in early trading, gaining more than 100 points during the day, briefly breaking above 7.24.
Cryptocurrency Market:
- Bitcoin climbed above 70,000 USD again, with a gain of more than 4%, reaching 70,308.6 USD.
- Ethereum reached 3600 USD per coin, for the first time since March 18.
EU Antitrust Investigation:
- For the first time under the new Digital Act, the EU launched an antitrust investigation against Apple, Google, and Meta.
- The tech giants face substantial fines, potentially up to 10% of their global revenues.
- Pan-European stock indices rebounded to all-time highs, with German, Italian, and Spanish stocks achieving new historical highs over five consecutive days.
Threat to US Tech Giants:
- The NASDAQ fell from record highs, ending a five-day winning streak, while the S&P 500 and Dow Jones Industrial Average experienced two consecutive days of decline.
- EU investigations pose a threat to the "Tech Big Seven," with stocks of Apple, Google, and Meta falling more than 1% during trading.
Japanese Yen Intervention Warning:
- Japanese stocks led declines in Asian markets. Japan's top foreign exchange official warned of a weak yen, indicating potential intervention.

