US Non-Farm Report Release; Tencent AI Conference; Companies Debut on Hong Kong Stock Exchange.

Trump Open to Meeting Iran's Supreme Leader if Agreement is Reached

On June 4, U.S. President Donald Trump stated that he does not rule out the possibility of meeting Iran's new Supreme Leader if an agreement is reached between the U.S. and Iran. He reiterated that the U.S. will never allow Iran to possess nuclear weapons and claimed that previous strikes on Iran's nuclear facilities have "completely destroyed" them.

Market Focus on May Non-Farm Payroll Report

The highly anticipated U.S. May non-farm employment report is set to be released at 20:30. Current market expectations suggest an addition of approximately 85,000 jobs, with the unemployment rate likely remaining stable. If the actual data meets expectations, it would indicate the strongest three-month job growth in over a year.

U.S. Treasury Secretary's Testimony

During a hearing on Thursday, U.S. Treasury Secretary Janet Yellen avoided questions regarding Trump's "audit exemption" and dismissed accusations of corruption against the Trump administration as "slander." She described recent inflation as a short-term fluctuation and stated that rising energy prices are a one-time shock. Yellen indicated a preference for country-specific exemptions for Russian oil rather than a blanket approach.

Federal Reserve Officials Signal Hawkish Stance

On June 4, several regional Federal Reserve presidents expressed a hawkish tone regarding inflation and interest rates. They emphasized the need to decide whether to maintain patience or raise rates to curb inflation, which they identified as the primary economic risk. They noted that AI may reduce inflation in the next five to ten years, but no significant productivity improvements have been observed yet.

U.S. Judge Warns of Disruption from DOJ Appeal

U.S. International Trade Court Judge Richard Eaton responded to the Department of Justice's appeal against his ruling, warning that intervention could disrupt the refund process for at least $85 billion in online applications. The DOJ argued that the refund system was proactively established and that the judge lacked authority to seek nationwide refunds for unprosecuted companies.

South Korean Won Hits Lowest Level Since 2009

Despite warnings from the South Korean government, the won continued to decline, reaching its lowest level in over 16 years. The USD/KRW exchange rate touched 1540.74 before settling at 1533.79. Foreign investors sold $4.6 billion worth of South Korean stocks in a single day, bringing the total net sell-off for the year to $74 billion.

U.S. Stock Market Performance

On Thursday, U.S. stock indices closed mixed. The Dow Jones Industrial Average surged nearly 900 points to a record high, while the Nasdaq experienced a slight decline due to disappointing earnings from chip giant Broadcom. The Dow rose 1.73% to 51,561.93, while the Nasdaq fell 0.09% to 26,830.96.

Anthropic Calls for a Pause in AI Development

At the Bloomberg Technology Conference, Anthropic co-founder Daniela Amodei stated that the high costs of AI model training are a primary driver for their IPO. The company recently submitted IPO documents and urged top AI labs to consider slowing down development.

Goldman Sachs Predicts SpaceX's Capital Expenditure

Goldman Sachs analysts forecast that SpaceX's capital expenditure will reach $360 billion by 2028, with a significant portion allocated to AI. They predict that SpaceX's revenue could grow to $474 billion by 2030, with AI contributing two-thirds of total sales.

Broadcom's Earnings Lead to Sell-Off

Broadcom's disappointing earnings report led to a 12% drop in its stock price. Analysts believe this sell-off was a misjudgment, as Broadcom's true potential will be realized after 2027.

Ciena's Strong Earnings Yet Stock Declines

Ciena reported a 40% year-over-year revenue increase, but its stock fell nearly 13.7% after the earnings announcement. Analysts suggest that the market had already priced in high expectations for AI and data center demand.

Quantum Computing Company Quantinuum's Market Debut

Quantum computing firm Quantinuum Inc. saw a slight increase of 0.6% on its first day of trading on Nasdaq, despite a significant drop in revenue and increased losses.

Arm Holdings' Stock Surge

Arm Holdings has seen its stock price nearly double in recent weeks, with a projected P/E ratio exceeding 170, making it one of the highest-valued stocks.

Microsoft CEO on AI and SaaS Transition

Microsoft CEO Satya Nadella discussed the company's strategy to strengthen its control over AI while maintaining its partnership with OpenAI. He anticipates a shift in traditional SaaS models towards a subscription-plus-usage payment structure.

Lululemon Lowers Revenue Guidance

Lululemon Athletica's stock dropped 11% after the company lowered its full-year revenue guidance, attributing the change to negative media coverage and lackluster product releases.

Hong Kong Stock Market Activity

On June 4, southbound funds net sold HK stocks worth 315 million HKD. Notable net purchases included Hua Hong Semiconductor and Pop Mart, while Tencent Holdings faced significant net selling.

Tencent's AI Product Launch

Tencent confirmed it is collaborating with several smartphone manufacturers to launch an A2A assistant feature. The company is also preparing for its annual AI product launch event, where it will unveil new applications and infrastructure upgrades.

Leapmotor's Share Buyback

Leapmotor announced that its chairman and a shareholder have collectively invested approximately 490 million HKD to increase their stake in the company.

China Energy Construction Signs Major Contract

China Energy Construction announced that its subsidiary has signed a $1.687 billion EPC contract for a gas combined cycle power plant project in Abu Dhabi.

Keywords: U.S. Non-Farm Payroll, U.S.-Iran Talks, Economic Data