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On July 4, data from the Korean Securities Depository's information portal revealed that in the first half of 2023, South Korean investors net purchased approximately $2.819 billion in Chinese assets through both individual stocks and ETFs, with A-shares accounting for about $678 million, a year-on-year increase of 130.55%. Semiconductor equipment company North Huachuang topped the A-share purchase list with approximately $33.94 million, followed closely by AI chip leader Cambricon with $27.28 million, and CATL ranked third. South Korean individual investors are focusing on stocks viewed as the 'Chinese version of Nvidia', driven by expectations of profit improvement and a rising belief in China's self-research capabilities in AI semiconductors. In the Hong Kong stock market, SMIC emerged as the most favored Chinese asset among South Korean investors with $85.46 million, while AI company MiniMax, listed in January, received about $66.65 million, ranking second, followed by Alibaba in third place. ETFs have become an important investment channel, with 10 Chinese asset ETFs collectively gaining approximately $209 million in net purchases in the first half of the year, led by the Global X China Semiconductor ETF with about $60.83 million. Standard Chartered Bank analysts stated that the attitude of overseas funds towards Chinese assets has undergone a 'fundamental change', shifting from a geopolitical discount perspective to a re-evaluation of the value of the AI industry.

[South Korean Retail Investors Net Buy Over $2.8 Billion in Chinese AI Assets in First Half of 2023]On July 4, data from the Korean Securities Depository's information portal revealed that in the first half of 2023, South Korean investors net purchased approximately $2.819 billion in Chinese assets through both individual stocks and ETFs, with A-shares accounting for about $678 million, a year-on-year increase of 130.55%. Semiconductor equipment company North Huachuang topped the A-share purchase list with approximately $33.94 million, followed closely by AI chip leader Cambricon with $27.28 million, and CATL ranked third. South Korean individual investors are focusing on stocks viewed as the 'Chinese version of Nvidia', driven by expectations of profit improvement and a rising belief in China's self-research capabilities in AI semiconductors. In the Hong Kong stock market, SMIC emerged as the most favored Chinese asset among South Korean investors with $85.46 million, while AI company MiniMax, listed in January, received about $66.65 million, ranking second, followed by Alibaba in third place. ETFs have become an important investment channel, with 10 Chinese asset ETFs collectively gaining approximately $209 million in net purchases in the first half of the year, led by the Global X China Semiconductor ETF with about $60.83 million. Standard Chartered Bank analysts stated that the attitude of overseas funds towards Chinese assets has undergone a 'fundamental change', shifting from a geopolitical discount perspective to a re-evaluation of the value of the AI industry.

South Korean Retail Investors Net Buy Over $2.8 Billion in Chinese AI Assets in First Half of 2023

On July 4, Serenity posted on platform X, indicating that the current funding trends in the Chinese private VC market show a significant influx of institutions into the fields related to Physical AI and World Models. The distribution of funds is approximately as follows: Large Models/LLM about $23.56 billion, AI Infrastructure and Technology Layer about $15.74 billion, Embodied Intelligence/Physical AI about $13.36 billion, and AIGC Applications about $8.79 billion. Serenity added that the early financing cycle for pure foundational models may have largely ended, with capital increasingly concentrated on established leading companies and the direction of World Models. This trend is also expected to emerge in the U.S., potentially further concentrating on leading companies such as Anthropic and OpenAI. Currently, AI investments continue to flow into infrastructure and semiconductor supply chains, while capital is rapidly rotating towards Physical AI and Embodied Intelligence.

[Serenity: Chinese VC Funds Accelerate Flow into Physical AI and World Models]On July 4, Serenity posted on platform X, indicating that the current funding trends in the Chinese private VC market show a significant influx of institutions into the fields related to Physical AI and World Models. The distribution of funds is approximately as follows: Large Models/LLM about $23.56 billion, AI Infrastructure and Technology Layer about $15.74 billion, Embodied Intelligence/Physical AI about $13.36 billion, and AIGC Applications about $8.79 billion. Serenity added that the early financing cycle for pure foundational models may have largely ended, with capital increasingly concentrated on established leading companies and the direction of World Models. This trend is also expected to emerge in the U.S., potentially further concentrating on leading companies such as Anthropic and OpenAI. Currently, AI investments continue to flow into infrastructure and semiconductor supply chains, while capital is rapidly rotating towards Physical AI and Embodied Intelligence.

Serenity: Chinese VC Funds Accelerate Flow into Physical AI and World Models

On July 4, The Star reported that Malaysian police conducted a raid and uncovered a case of electricity theft for cryptocurrency mining. During the operation, a local man and a foreign national, aged 20 and 31 respectively, were arrested. All equipment used for cryptocurrency mining has been confiscated. The police stated that they have obtained a four-day remand order from the local court, from July 4 to July 7, for further investigation.

[Malaysian Police Uncover Electricity Theft for Cryptocurrency Mining, Arrest Two Suspects]On July 4, The Star reported that Malaysian police conducted a raid and uncovered a case of electricity theft for cryptocurrency mining. During the operation, a local man and a foreign national, aged 20 and 31 respectively, were arrested. All equipment used for cryptocurrency mining has been confiscated. The police stated that they have obtained a four-day remand order from the local court, from July 4 to July 7, for further investigation.

Malaysian Police Uncover Electricity Theft for Cryptocurrency Mining, Arrest Two Suspects

On July 4, Serenity announced that floating AI data centers and ocean computing are now a reality, with a core advantage in significantly saving power through natural seawater cooling, making them particularly friendly to areas with tight land resources, similar to the concept of 'orbital computing.' Samsung Heavy Industries plans to launch its first commercial floating AI data center by 2028, with a scale of approximately 50MW. Singapore's Keppel is also advancing a similar project, expected to be operational in the same year. Serenity further noted that Microsoft previously explored an underwater submerged data center called Project Natick, which has since been terminated, and this is not the same concept as the currently discussed floating data centers. This addresses two major pain points in AI infrastructure: power and cooling. Additionally, the modular and movable characteristics naturally adapt to land-scarce areas.

[Serenity Focuses on Floating AI Data Centers: Samsung Heavy Industries Aims for Commercial Use by 2028 with Free Seawater Cooling to Address Power and Land Constraints]On July 4, Serenity announced that floating AI data centers and ocean computing are now a reality, with a core advantage in significantly saving power through natural seawater cooling, making them particularly friendly to areas with tight land resources, similar to the concept of 'orbital computing.' Samsung Heavy Industries plans to launch its first commercial floating AI data center by 2028, with a scale of approximately 50MW. Singapore's Keppel is also advancing a similar project, expected to be operational in the same year. Serenity further noted that Microsoft previously explored an underwater submerged data center called Project Natick, which has since been terminated, and this is not the same concept as the currently discussed floating data centers. This addresses two major pain points in AI infrastructure: power and cooling. Additionally, the modular and movable characteristics naturally adapt to land-scarce areas.

Serenity Focuses on Floating AI Data Centers: Samsung Heavy Industries Aims for Commercial Use by 2028 with Free Seawater Cooling to Address Power and Land Constraints

On July 4, Micron Technology officially launched the expansion project for its factory in western Japan, with a total investment of 1.5 trillion yen aimed at producing advanced memory chips. This expansion is part of its global growth plan to meet the demands of the artificial intelligence industry; the Japanese government will provide up to 500 billion yen in subsidies to help cover construction costs. The expansion will enhance Micron's ability to improve the energy efficiency and data transmission efficiency of chips required for AI services and autonomous vehicles, with production expected to begin around the summer of 2028.

[Micron Invests $9 Billion to Expand Chip Factory in Western Japan, Production Expected by Summer 2028]On July 4, Micron Technology officially launched the expansion project for its factory in western Japan, with a total investment of 1.5 trillion yen aimed at producing advanced memory chips. This expansion is part of its global growth plan to meet the demands of the artificial intelligence industry; the Japanese government will provide up to 500 billion yen in subsidies to help cover construction costs. The expansion will enhance Micron's ability to improve the energy efficiency and data transmission efficiency of chips required for AI services and autonomous vehicles, with production expected to begin around the summer of 2028.

Micron Invests $9 Billion to Expand Chip Factory in Western Japan, Production Expected by Summer 2028

On July 4, Serenity announced that floating AI data centers and ocean computing are now a reality, with a core advantage in significantly saving electricity through natural seawater cooling, making them particularly friendly to areas with tight land resources, similar to the concept of 'orbital computing.' Samsung Heavy Industries plans to launch its first commercial floating AI data center by 2028, with a scale of approximately 50MW. Singapore's Keppel is also advancing a similar project, expected to become operational in the same year. Serenity further noted that Microsoft previously explored an underwater submerged data center called Project Natick, which has now been terminated, and this is not the same concept as the currently discussed floating data centers. This addresses two major pain points in AI infrastructure: power and cooling. Additionally, the modular and movable nature of these centers is naturally suited for land-scarce areas.

[Serenity Focuses on Floating AI Data Centers: Samsung Heavy Industries Aims for Commercial Use by 2028, Free Seawater Cooling to Address Power and Land Constraints]On July 4, Serenity announced that floating AI data centers and ocean computing are now a reality, with a core advantage in significantly saving electricity through natural seawater cooling, making them particularly friendly to areas with tight land resources, similar to the concept of 'orbital computing.' Samsung Heavy Industries plans to launch its first commercial floating AI data center by 2028, with a scale of approximately 50MW. Singapore's Keppel is also advancing a similar project, expected to become operational in the same year. Serenity further noted that Microsoft previously explored an underwater submerged data center called Project Natick, which has now been terminated, and this is not the same concept as the currently discussed floating data centers. This addresses two major pain points in AI infrastructure: power and cooling. Additionally, the modular and movable nature of these centers is naturally suited for land-scarce areas.

Serenity Focuses on Floating AI Data Centers: Samsung Heavy Industries Aims for Commercial Use by 2028, Free Seawater Cooling to Address Power and Land Constraints

On July 4, Leto Bao, the key figure behind ByteDance's stock trading gains of 30 million, published insights on the storage market, questioning why storage prices have recently plummeted. He attributed this to an excessive withdrawal by institutions, compounded by leveraged funds being forcefully liquidated, leading to a spiral of chain liquidations. He believes that appropriately reducing leverage is healthier in the long run. Leto Bao also emphasized the importance of having personal conviction in investments. He recounted a colleague in the ByteDance investment group who had assets worth several million dollars. At the beginning of the year, this colleague was optimistic about storage but lacked firm conviction, prompting him to visit Micron's factory in Singapore to reinforce his belief, after which he confidently made purchases. He noted that relying on others' recommendations reflects their beliefs, not yours; if the stock rises, you may not hold on, and if it falls, you will struggle even more. Regarding how ordinary people should invest, Leto Bao categorized investors into several situations: those with family obligations and debts like mortgages and car loans should not invest at all; their priority should be to reduce financial leverage. Investors without economic burdens but lacking savings should focus on enhancing their earning capabilities. Those with some savings (with a PDT threshold of $25,000) but no prior investment experience or interest in investing should directly buy indices and avoid individual stocks. The ideal investors are those with sufficient savings, a passion for investing, a capacity for learning, and who view investment as a strategic game rather than just a means to make money. They enjoy the trading experience, enhance their understanding through information sources, and have clear goals with real-world feedback, making investment more engaging than any strategy game.

[ByteDance's Stock Trading Gains of 30 Million: Leto Bao Discusses Storage Market Trends]On July 4, Leto Bao, the key figure behind ByteDance's stock trading gains of 30 million, published insights on the storage market, questioning why storage prices have recently plummeted. He attributed this to an excessive withdrawal by institutions, compounded by leveraged funds being forcefully liquidated, leading to a spiral of chain liquidations. He believes that appropriately reducing leverage is healthier in the long run. Leto Bao also emphasized the importance of having personal conviction in investments. He recounted a colleague in the ByteDance investment group who had assets worth several million dollars. At the beginning of the year, this colleague was optimistic about storage but lacked firm conviction, prompting him to visit Micron's factory in Singapore to reinforce his belief, after which he confidently made purchases. He noted that relying on others' recommendations reflects their beliefs, not yours; if the stock rises, you may not hold on, and if it falls, you will struggle even more. Regarding how ordinary people should invest, Leto Bao categorized investors into several situations: those with family obligations and debts like mortgages and car loans should not invest at all; their priority should be to reduce financial leverage. Investors without economic burdens but lacking savings should focus on enhancing their earning capabilities. Those with some savings (with a PDT threshold of $25,000) but no prior investment experience or interest in investing should directly buy indices and avoid individual stocks. The ideal investors are those with sufficient savings, a passion for investing, a capacity for learning, and who view investment as a strategic game rather than just a means to make money. They enjoy the trading experience, enhance their understanding through information sources, and have clear goals with real-world feedback, making investment more engaging than any strategy game.

ByteDance's Stock Trading Gains of 30 Million: Leto Bao Discusses Storage Market Trends

On July 4, the Central Bank of Brazil stated during a congressional hearing that stablecoins possess the attributes of payment tools and should be classified as electronic currency tools rather than general digital assets, thereby subjecting them to a stricter regulatory framework. The Brazilian Association of Crypto Economy opposed this classification, arguing that it could lead to regulatory conflicts, hinder the application of stablecoins in institutional and retail markets, and divert Brazil from international regulatory trends. Meanwhile, the Central Bank of Brazil has recently increased regulatory requirements for virtual asset service providers, which may put pressure on small and medium-sized crypto institutions.

[Brazil's Central Bank Classifies Stablecoins as Electronic Currency Tools]On July 4, the Central Bank of Brazil stated during a congressional hearing that stablecoins possess the attributes of payment tools and should be classified as electronic currency tools rather than general digital assets, thereby subjecting them to a stricter regulatory framework. The Brazilian Association of Crypto Economy opposed this classification, arguing that it could lead to regulatory conflicts, hinder the application of stablecoins in institutional and retail markets, and divert Brazil from international regulatory trends. Meanwhile, the Central Bank of Brazil has recently increased regulatory requirements for virtual asset service providers, which may put pressure on small and medium-sized crypto institutions.

Brazil's Central Bank Classifies Stablecoins as Electronic Currency Tools

On July 4, former Fox Business reporter Eleanor Terrett reported that the Major County Sheriffs' Association (MCSA) has adjusted its position on the Clarity Act to 'neutral' after 'ongoing discussions in recent days' regarding certain provisions of Section 604 of the Act. In a letter to Senate banking leaders, MCSA stated that based on its ongoing review of the legislation, there remains an opportunity to 'further strengthen legislation to support responsible innovation and the practical needs of state and local law enforcement.'

[Major County Sheriffs' Association of the U.S. Shifts to Neutral Stance on Clarity Act]On July 4, former Fox Business reporter Eleanor Terrett reported that the Major County Sheriffs' Association (MCSA) has adjusted its position on the Clarity Act to 'neutral' after 'ongoing discussions in recent days' regarding certain provisions of Section 604 of the Act. In a letter to Senate banking leaders, MCSA stated that based on its ongoing review of the legislation, there remains an opportunity to 'further strengthen legislation to support responsible innovation and the practical needs of state and local law enforcement.'

Major County Sheriffs' Association of the U.S. Shifts to Neutral Stance on Clarity Act

On July 4, the day before Independence Day, U.S. President Trump signed a pardon order on July 3, granting clemency to 11 individuals, including several who were sentenced for violating the Clean Air Act. Trump referred to these individuals as 'victims persecuted by the Biden administration,' stating that they were imprisoned or faced imprisonment for fixing their own cars, saying, 'I am now freeing them all.' Notably, the highly anticipated potential pardon recipient from the cryptocurrency sector, FTX founder SBF, was not included in the announced list of pardons. Today (July 4) coincides with the 250th anniversary celebration of the United States, during which Trump will participate in various events. The White House had previously discussed the possibility of a large-scale pardon of 250 individuals as part of the 250th anniversary celebrations, but these discussions are still in the consideration phase and have not been officially announced. Market attention is focused on Trump's statements today. Analysts have pointed out that the Independence Day pardons target three categories of individuals and could serve as a new tool for Trump to garner public support. The 250th anniversary pardon list is expected to emphasize symbolic and public interest dimensions, highlighting the image of a 'merciful America' and potentially correcting cases viewed as 'weaponized justice.' However, lobbying, political loyalty, public attention to high-profile cases, and potential economic, diplomatic benefits, as well as the president's potential gains, will all be important considerations in the decision-making process. Therefore, white-collar/financial criminals, rehabilitated non-violent offenders, and high-profile/symbolic cases or 'political/policy-related' offenders are the three groups most likely to become targets for pardons. The competition for pardons under the Trump administration has significantly escalated, with the president himself exerting unprecedented personal control over the pardon process, frequently using his pardon power to support allies and advance his political agenda. The pardon affairs are managed by a small team consisting of White House Special Counsel David Warrington, Chief of Staff Susie Wiles, and U.S. Pardon Attorney Ed Martin. Most cases are initially reviewed by Warrington and Martin in coordination with the Department of Justice, with selected candidates submitted to Wiles for review, and the final candidates presented to Trump for decision by Warrington and Wiles.

[Trump Grants Pardons to 11, SBF Not Included; Today's Celebration in Focus]On July 4, the day before Independence Day, U.S. President Trump signed a pardon order on July 3, granting clemency to 11 individuals, including several who were sentenced for violating the Clean Air Act. Trump referred to these individuals as 'victims persecuted by the Biden administration,' stating that they were imprisoned or faced imprisonment for fixing their own cars, saying, 'I am now freeing them all.' Notably, the highly anticipated potential pardon recipient from the cryptocurrency sector, FTX founder SBF, was not included in the announced list of pardons. Today (July 4) coincides with the 250th anniversary celebration of the United States, during which Trump will participate in various events. The White House had previously discussed the possibility of a large-scale pardon of 250 individuals as part of the 250th anniversary celebrations, but these discussions are still in the consideration phase and have not been officially announced. Market attention is focused on Trump's statements today. Analysts have pointed out that the Independence Day pardons target three categories of individuals and could serve as a new tool for Trump to garner public support. The 250th anniversary pardon list is expected to emphasize symbolic and public interest dimensions, highlighting the image of a 'merciful America' and potentially correcting cases viewed as 'weaponized justice.' However, lobbying, political loyalty, public attention to high-profile cases, and potential economic, diplomatic benefits, as well as the president's potential gains, will all be important considerations in the decision-making process. Therefore, white-collar/financial criminals, rehabilitated non-violent offenders, and high-profile/symbolic cases or 'political/policy-related' offenders are the three groups most likely to become targets for pardons. The competition for pardons under the Trump administration has significantly escalated, with the president himself exerting unprecedented personal control over the pardon process, frequently using his pardon power to support allies and advance his political agenda. The pardon affairs are managed by a small team consisting of White House Special Counsel David Warrington, Chief of Staff Susie Wiles, and U.S. Pardon Attorney Ed Martin. Most cases are initially reviewed by Warrington and Martin in coordination with the Department of Justice, with selected candidates submitted to Wiles for review, and the final candidates presented to Trump for decision by Warrington and Wiles.

Trump Grants Pardons to 11, SBF Not Included; Today's Celebration in Focus

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Trump Grants Pardons to 11, SBF Not Included; Today's Celebration in Focus

Disclaimer：The content above does not represent HTX's positions.，HTX does not provide any trading recommendations.。

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