Musk's personal wealth surged to $1.4 trillion
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Hong Kong Securities and Futures Commission's survey on asset and wealth management activities: Total assets under management reached a record high of US$5.4 trillion last year.
Odaily Odaily reports that the Hong Kong Securities and Futures Commission released the "2025 Asset and Wealth Management Activities Survey," which shows: 1. Hong Kong’s total assets under management will rise 20% year-on-year to a record high of HK$42.2 trillion (US$5.4 trillion) by 2025. Part of the growth will be driven by net capital inflows, which will surge 193% year-on-year to HK$2.1 trillion (US$265 billion), marking the third consecutive year of increase. 2. Assets under management in asset management and fund advisory services increased by 19% year-on-year to RMB31 trillion (US$4 trillion). 3. Assets under management in private banking and private wealth management businesses surged 24% year-on-year to RMB12.9 trillion (US$1.7 trillion). 4. The net asset value of approved funds rose 38% to RMB 2.3 trillion (US$292 billion). 5. Net capital inflows into the asset management and fund advisory business segment surged 330% to RMB 1.38 trillion (US$177.3 billion). 6. The number of institutions licensed in Hong Kong to conduct asset management (Type 9 regulated activities) increased by 7% year-on-year to 2,358.
Memory chip concept stocks surged, with SpaceTime Technology hitting the daily limit and reaching a new all-time high.
According to Mars Finance, the memory chip concept stocks surged, with Space-Time Technology hitting the daily limit and reaching a new historical high. Golden Sun rose over 10%, and Shannon Semiconductor, Langke Technology, Beijing Junzheng, Puran Technology, and Biwin Storage followed suit. On the news front, a JPMorgan Chase research report indicates that this memory supercycle will be "higher and longer," with global memory total assets (TAM) soaring from $214 billion in 2025 to $1.68 trillion in 2028, and DRAM revenue expected to reach $1.23 trillion in 2028; CPUs have become the core catalyst for this new round of memory price increases. (Cailian Press)
Survey: $29 trillion in sovereign funds shift to energy and physical assets; 60% of central banks worry that US Treasury bonds are eroding the dollar's status.
According to Mars Finance, a recent Invesco survey released on June 29th shows that sovereign investors, covering 90 sovereign wealth funds and 54 central banks, managing a total of $29 trillion in assets, are systematically restructuring their portfolios, shifting their focus to energy and physical assets. Approximately 80% of surveyed institutions believe that energy security and energy transition infrastructure are the top priorities for enhancing portfolio resilience, with infrastructure assets now accounting for 9% of their portfolios. The high energy consumption of AI has further boosted the attractiveness of energy assets. Regarding the dollar's credit crisis, 61% of surveyed central banks believe that US debt levels are weakening the dollar's long-term reserve status, a significant jump from 20% in 2024; 29% expect the dollar's reserve currency status to weaken within five years, up from 12% in 2022. Some institutions have begun to reduce their reliance on US custodians and clearing systems; one European Central Bank has completed the replacement of its US custodian, while a Latin American central bank has admitted to establishing non-US custodian relationships for "extreme situations." Furthermore, about one-third of surveyed institutions plan to increase their gold reserves. Invesco's research director pointed out that "resilience is turning from a bonus into a necessity."
EDGE shares surged over 48% in the last 24 hours, currently trading at $0.504.
According to Mars Finance, on July 8th, market data showed that EDGE surged over 48% in the past 24 hours, currently trading at $0.504.
Nvidia's market value evaporated by $1 trillion in less than two months, with its valuation falling back to levels seen before the AI boom.
According to Mars Finance, after losing approximately $1 trillion in market capitalization in less than two months, Nvidia stock has hit its lowest level since the artificial intelligence (AI) boom fueled its surge. The chipmaker's graphics processing units (GPUs) still dominate the AI data center market. However, its share price has fallen 16% since hitting an all-time high on May 14th, prompting investors to adjust their AI trading strategies, selling Nvidia and investing in other semiconductor manufacturers, particularly those in the memory market. Data shows the sell-off has driven Nvidia's price-to-earnings ratio (P/E) to 18 based on its expected earnings over the next 12 months. The last time it reached such a low level was in early 2019. To better understand the depth of the decline, a comparison with benchmark stock indices shows that the S&P 500 has a forward P/E ratio of 20, and the Nasdaq 100 has a forward P/E ratio close to 23. (Cailian Press)
Billionaire Grantham is bearish on SpaceX: 90% chance of eventual collapse, questions AI and the Mars narrative.
According to Mars Finance, on July 8th, billionaire investor Jeremy Grantham, known for his warnings about asset bubbles, publicly questioned SpaceX's current valuation of approximately $2 trillion. He argued that there are significant doubts about the company's AI business, Mars program, and long-term growth logic, and stated that he is "90% betting" on SpaceX's eventual historic collapse. He believes that attributing approximately 90% of the serviceable market to AI in SpaceX's prospectus is "unbelievable," and that its AI products are not competitive enough to compare with OpenAI and Anthropic. However, mainstream Wall Street institutions generally remain optimistic about SpaceX. With the company's formal inclusion in the NASDAQ-100 Index, it is expected to attract more passive investment. Several investment banks, including Goldman Sachs, JPMorgan Chase, and Morgan Stanley, have given positive ratings, believing that Starship, Starlink, and AI businesses will be the core drivers of future growth.