Shangwei New Materials held a closed-door meeting with its channel partners, where the new management team unveiled the Qiyuan Robotics rollout plan for the first time.
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South Korea's Ministry of Finance held an emergency meeting, warning of excessive concentration in the semiconductor sector.
According to Odaily Odaily, South Korea's Ministry of Finance announced that Finance Minister Koo Yun-cheol held an emergency meeting with the Governor of the Bank of Korea and heads of financial regulatory agencies to address the recent sharp fluctuations in the South Korean stock market. The South Korean government stated that it will closely monitor various risk factors that could exacerbate market uncertainty and prevent further market volatility. Recently, the South Korean stock market has experienced increased volatility due to factors such as profit-taking by foreign investors and institutions, adjustments in expectations for the AI sector, and portfolio rebalancing. The KOSPI index triggered its sixth circuit breaker this year this week. In a statement, the South Korean government said, "The excessive concentration in the semiconductor industry has become a core factor amplifying financial market volatility, and the transmission effect of fluctuations in the chip sector on the overall market is constantly increasing." (Jinshi)
U.S. stocks closed lower across the board, with semiconductor, memory, and optical communication sectors leading the declines. The Philadelphia Semiconductor Index fell 4.65%.
According to BlockBeats, on July 8th, based on BIT (bit.com) market data, the US reinstated military strikes against Iran and oil sanctions. As a result, all three major US stock indices closed lower: the Dow Jones Industrial Average fell 0.25%, the Nasdaq Composite fell 1.16%, and the S&P 500 fell 0.45%. The semiconductor and memory sectors declined, with the Philadelphia Semiconductor Index falling 4.65%, and SpaceX falling nearly 7%, hitting a new low since its IPO. The memory sector saw the largest declines, with Western Digital (WDC) down 7.86%, Seagate Technology (STX) down 4.68%, Micron Technology (MU) down 4.71%, and SanDisk (SNDK) down 7.26%. Semiconductor stocks generally declined, with Lam Research (LRCX) down 6.87%, Applied Materials (AMAT) down 6.46%, Marvell Technology (MRVL) down 7.45%, KLA-Tec (KLAC) down 7.22%, AMD (AMD) down 6.51%, and Intel (INTC) down 9.66%. Optical communication concept stocks also faced pre-market pressure, with Astera Labs (ALAB) down 11.12%, Ciena (CIEN) down 3.44%, Coherent (COHR) down 6.43%, Lumentum (LITE) down 4.42%, and Corning (GLW) down 4.84%.
The National Development and Reform Commission disclosed five key work plans for the artificial intelligence industry during the 15th Five-Year Plan period, emphasizing the strengthening of key technologies such as models, computing power, and data.
According to Mars Finance, at a press conference held by the Shanghai Municipal Government on July 7, Wang Ruomeng, Deputy Director of the Innovation and High-Tech Development Department of the National Development and Reform Commission, disclosed the working plan for my country's artificial intelligence industry during the 15th Five-Year Plan period: First, accelerate independent innovation. Strengthen research on key technologies such as models, computing power, and data; increase basic research; generate more original achievements; and contribute Chinese wisdom to the global development of artificial intelligence. Second, strengthen application-driven development. Focus on areas with significant economic contributions, high strategic value, and good social benefits; open up a number of high-value scenarios; and create a number of benchmark applications. At the same time, pay attention to the impact of artificial intelligence on employment, promote the creation of new jobs and empowerment of traditional jobs through artificial intelligence, and prioritize its application in "dangerous, dirty, tiring, and heavy" scenarios. Third, deepen ecological collaboration. Continuously promote deep adaptation of software and hardware, common prosperity of open and closed sources, integration of industry, academia, research, and application, and differentiated regional development to significantly improve the efficiency of ecological collaboration. Fourth, adhere to openness and win-win cooperation. Extensively carry out international cooperation in artificial intelligence, promote open-source and inclusive technology, support the Global South in strengthening artificial intelligence capacity building, and actively participate in international governance in the field of artificial intelligence. Fifth, ensure safety and controllability. We must coordinate development and security, accelerate legislation in the field of artificial intelligence, improve the system of rules and regulations, prevent risks such as data misuse, deepfakes, and privacy breaches, and ensure that the development of artificial intelligence is for human use and under human control. (Cailian Press)
Asseto's NGI+ platform has officially launched, with on-chain implementation completed by Partners Group's private infrastructure strategy.
Odaily Odaily reports that Asseto recently announced that its technology platform now supports the official launch of the tokenized product NGI+, bringing the private equity infrastructure strategy managed by global private equity investment management firm Partners Group onto the blockchain. NGI+ is an on-chain token backed by private infrastructure fund equity. The underlying strategy is managed by Partners Group, which manages over $185 billion in assets, while Asseto provides NGI+ with smart contracts, on-chain equity records, and related operational technical support. This underlying strategy primarily invests in infrastructure assets such as data centers, energy infrastructure, power grids, and transportation. Traditionally, such private infrastructure strategies are offered to qualified high-net-worth and institutional investors primarily through private banks and other professional investment channels. Through Asseto's tokenization technology, holders who meet the applicable investor qualifications and product access requirements can obtain on-chain economic exposure linked to the net asset value performance of the underlying strategy, in accordance with the terms set forth in the relevant product documents. The launch of NGI+ further expands the application of the Asseto technology platform in alternative asset tokenization scenarios such as private equity infrastructure.
A-shares closed lower: The ChiNext index rose initially but then fell back, closing down 1.77%, while the pharmaceutical and coal sectors bucked the trend and strengthened.
PANews reported on July 6th that, according to Cailian Press, the three major indices all closed lower, with the ChiNext index showing weakness, while the STAR Market 50 index rebounded after hitting a low. The combined turnover of the Shanghai and Shenzhen stock exchanges was 3.09 trillion yuan, a decrease of 91.3 billion yuan from the previous trading day. Market sentiment was mixed, with over 3,500 stocks declining. In terms of sectors, the pharmaceutical sector strengthened, with Luoxin Pharmaceutical hitting the daily limit and Shouyao Holdings reaching a 20% daily limit. The liquid-cooled server concept was active, with Dayuan Pump Industry, Hongsheng Shares, and Seagull Shares hitting the daily limit. The switch concept strengthened intraday, with Feiling Kesi hitting a 20% daily limit, Ziguang Shares hitting the daily limit, and Xingwang Ruijie achieving four daily limits in five days. The lab-grown diamond concept saw intraday fluctuations, with Huanghe Whirlwind achieving two daily limits in three days. The pork concept fluctuated higher, with Juxing Agriculture and Animal Husbandry hitting the daily limit. The coal sector rallied at the close, with Haohua Energy hitting the daily limit. On the downside, PCB stocks fluctuated and weakened, with China Jushi hitting the daily limit down, and International Composite Materials and Defu Technology falling by more than 10%.
The first Global Dialogue on Artificial Intelligence Governance was held in Geneva.
According to CCTV News, the first Global AI Governance Dialogue was held in Geneva, Switzerland on July 6th, local time. Approximately 1,500 representatives from around the world will exchange views on AI governance during the two-day conference. UN Secretary-General António Guterres stated at the opening ceremony that artificial intelligence is developing at an alarming pace. The question is whether we will collectively harness it or allow it to control us. This global AI governance dialogue is the first to give every country the opportunity to participate. We must now translate global participation into global action to make AI safer, fairer, more accessible, and more ethical. The first Global AI Governance Dialogue will focus on four priorities: the opportunities and impacts of AI; capacity building and the AI gap; safe and trustworthy AI; and human rights and human oversight. Click the original link below to join Beating's AI news channel on Feishu, monitoring global AI hot topics and news 24/7.