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On July 6, the Nikkei 225 index closed down 6.38 points, a decrease of 0.01%, at 69,737.69 points; the South Korean KOSPI index closed down 37.01 points, a decrease of 0.46%, at 8,051.33 points, after initially rising nearly 3% at the start of trading. (Jin Shi)

[Japanese and South Korean Stock Markets Open High but Close Low]On July 6, the Nikkei 225 index closed down 6.38 points, a decrease of 0.01%, at 69,737.69 points; the South Korean KOSPI index closed down 37.01 points, a decrease of 0.46%, at 8,051.33 points, after initially rising nearly 3% at the start of trading. (Jin Shi)

Japanese and South Korean Stock Markets Open High but Close Low

On July 6, Samsung Electronics will announce its preliminary performance for the second quarter of 2026 on July 7, while SK Hynix is set to list its ADR on Nasdaq on July 10. These significant events for the two major semiconductor giants in South Korea have garnered high market attention regarding industry prosperity and the performance driven by AI chip demand. According to forecasts from 30 analysts compiled by the London Stock Exchange Group (LSEG), Samsung Electronics' operating profit for the second quarter is expected to be around 86 trillion won (approximately $56.3 billion), with some brokerages predicting it could reach as high as 90 trillion won, representing a year-on-year increase of about 17 to 18 times, potentially marking the best quarterly performance in recent years. Prior to the preliminary report, Samsung Electronics' management has released positive signals. Kim Yong-kwan, President of the Device Solutions (DS) division, stated at an internal meeting on July 3 that the company's full-year operating profit for 2026 is expected to meet market consensus. Currently, the market generally anticipates Samsung Electronics' full-year operating profit to be around 300 trillion won (approximately $200 billion), with improvements in AI servers, high-bandwidth memory (HBM), and foundry services seen as major growth drivers. Kim Yong-kwan also remarked, 'This year's profit will exceed the total profit accumulated over our 40 years in the semiconductor business.' Industry insiders view this as a rare proactive statement from Samsung's management regarding the full-year profit outlook before the official performance disclosure, reflecting the company's strong confidence in the recovery of its semiconductor business driven by AI and overall performance growth for the year. With the Samsung earnings report and SK Hynix's ADR listing approaching, the South Korean semiconductor sector is set to enter a crucial market observation window.

[Samsung to Announce Preliminary Q2 Report Tomorrow: Profit Expected to Surge 18-Fold]On July 6, Samsung Electronics will announce its preliminary performance for the second quarter of 2026 on July 7, while SK Hynix is set to list its ADR on Nasdaq on July 10. These significant events for the two major semiconductor giants in South Korea have garnered high market attention regarding industry prosperity and the performance driven by AI chip demand. According to forecasts from 30 analysts compiled by the London Stock Exchange Group (LSEG), Samsung Electronics' operating profit for the second quarter is expected to be around 86 trillion won (approximately $56.3 billion), with some brokerages predicting it could reach as high as 90 trillion won, representing a year-on-year increase of about 17 to 18 times, potentially marking the best quarterly performance in recent years. Prior to the preliminary report, Samsung Electronics' management has released positive signals. Kim Yong-kwan, President of the Device Solutions (DS) division, stated at an internal meeting on July 3 that the company's full-year operating profit for 2026 is expected to meet market consensus. Currently, the market generally anticipates Samsung Electronics' full-year operating profit to be around 300 trillion won (approximately $200 billion), with improvements in AI servers, high-bandwidth memory (HBM), and foundry services seen as major growth drivers. Kim Yong-kwan also remarked, 'This year's profit will exceed the total profit accumulated over our 40 years in the semiconductor business.' Industry insiders view this as a rare proactive statement from Samsung's management regarding the full-year profit outlook before the official performance disclosure, reflecting the company's strong confidence in the recovery of its semiconductor business driven by AI and overall performance growth for the year. With the Samsung earnings report and SK Hynix's ADR listing approaching, the South Korean semiconductor sector is set to enter a crucial market observation window.

Samsung to Announce Preliminary Q2 Report Tomorrow: Profit Expected to Surge 18-Fold

On July 6, Cointelegraph reported that Visa data shows the adjusted stablecoin trading volume in June reached $1.79 trillion, setting a new historical high. This represents a 63% increase from May's $1.1 trillion and a 125% year-over-year growth. USDC contributed approximately 67% of the trading volume with $1.21 trillion, while USDT accounted for about $576 billion, or 32%. In terms of networks, Base led with $565 billion (31.5%), followed closely by Ethereum at $562 billion, and Tron in third place with $320 billion.

[Stablecoin Trading Volume Reaches $1.79 Trillion in June, Setting a New Record]On July 6, Cointelegraph reported that Visa data shows the adjusted stablecoin trading volume in June reached $1.79 trillion, setting a new historical high. This represents a 63% increase from May's $1.1 trillion and a 125% year-over-year growth. USDC contributed approximately 67% of the trading volume with $1.21 trillion, while USDT accounted for about $576 billion, or 32%. In terms of networks, Base led with $565 billion (31.5%), followed closely by Ethereum at $562 billion, and Tron in third place with $320 billion.

Stablecoin Trading Volume Reaches $1.79 Trillion in June, Setting a New Record

[Why Fund Isolation is Necessary]How to Protect Your Asset Security

Why Fund Isolation is Necessary

According to monitoring by Dongcha Beating, the open-source model GLM-5.2 has topped the self-fine-tuning benchmark PostTrainBench, but has faced criticism from the challenger scaling01 for lacking practical value. He pointed out that the model's ranking jumped from 22nd to 1st in just a few months, which is highly unusual, and that the testing lacks a hidden set, making it easy for agents to exploit ranking optimization, resulting in models that are difficult to implement in the real world. However, supporters countered that it is unrealistic to expect agents to complete general fine-tuning under the constraint of a single H100 GPU for 10 hours, and that targeted optimization is a norm in machine learning. Public logs show that GLM-5.2 has a clear experimental logic, can automatically collect data from different sampling hypotheses, autonomously plans a complete chain for establishing performance baselines, fine-tuning, and filtering data using rejection sampling, while attempting to avoid overfitting in the reasoning chain. The greater value of this controversy lies in the fact that the publicly available operational trajectory originally intended to assess fine-tuning capabilities unexpectedly debunked industry rumors about domestic large models being heavily distilled from Claude. Benchmark author Maksym Andriushchenko noted after reviewing the GLM-5.2 logs that the model has essential differences from Claude in data collection, strategy combinations, and decision paths, showing no signs of imitation or distillation. The transparency of third-party benchmarks has instead become the most direct window for open-source large models to demonstrate their original research and development capabilities.

[GLM-5.2 Tops Fine-Tuning Benchmark Amid Controversy, Authors Clarify: No Distillation of Claude]According to monitoring by Dongcha Beating, the open-source model GLM-5.2 has topped the self-fine-tuning benchmark PostTrainBench, but has faced criticism from the challenger scaling01 for lacking practical value. He pointed out that the model's ranking jumped from 22nd to 1st in just a few months, which is highly unusual, and that the testing lacks a hidden set, making it easy for agents to exploit ranking optimization, resulting in models that are difficult to implement in the real world. However, supporters countered that it is unrealistic to expect agents to complete general fine-tuning under the constraint of a single H100 GPU for 10 hours, and that targeted optimization is a norm in machine learning. Public logs show that GLM-5.2 has a clear experimental logic, can automatically collect data from different sampling hypotheses, autonomously plans a complete chain for establishing performance baselines, fine-tuning, and filtering data using rejection sampling, while attempting to avoid overfitting in the reasoning chain. The greater value of this controversy lies in the fact that the publicly available operational trajectory originally intended to assess fine-tuning capabilities unexpectedly debunked industry rumors about domestic large models being heavily distilled from Claude. Benchmark author Maksym Andriushchenko noted after reviewing the GLM-5.2 logs that the model has essential differences from Claude in data collection, strategy combinations, and decision paths, showing no signs of imitation or distillation. The transparency of third-party benchmarks has instead become the most direct window for open-source large models to demonstrate their original research and development capabilities.

GLM-5.2 Tops Fine-Tuning Benchmark Amid Controversy, Authors Clarify: No Distillation of Claude

On July 6, Focaldata's latest poll indicated that a majority of American voters believe the Trump administration's military actions in Iran are 'not worth it.' The survey was conducted from June 26 to 30, covering 1,795 registered voters, with a margin of error of ±2.7%. 
The data shows that 58% of respondents believe the current costs of the war are not justified. Meanwhile, 44% of voters feel that the conflict has put the U.S. in a weaker position in its relationship with Iran, while only 31% believe it has given the U.S. an advantage. 
The poll reveals that only 36% of voters approve of Trump's performance in office, a decrease of 2 percentage points from the previous month. Among independent voters, support has dropped to 21%, an 8-point decline, showing a more significant downturn. 
This trend poses pressure on the Republican Party ahead of the upcoming midterm elections in November 2026. In the survey, 44% of respondents indicated they would support Democratic candidates in the congressional elections, 6 percentage points higher than the 38% supporting Republicans; a month ago, the Democratic lead was only 4 points. 
However, the Republican Party still holds some advantage in voting intent. About three-quarters of Republican supporters rated their voting intent at 8 or above on a scale of 1 to 10, compared to 69% of Democrats and 56% of independents.

[Poll: U.S.-Iran Conflict Deemed 'Not Worth It', Trump's Approval Rating Drops to 36%]On July 6, Focaldata's latest poll indicated that a majority of American voters believe the Trump administration's military actions in Iran are 'not worth it.' The survey was conducted from June 26 to 30, covering 1,795 registered voters, with a margin of error of ±2.7%. 
The data shows that 58% of respondents believe the current costs of the war are not justified. Meanwhile, 44% of voters feel that the conflict has put the U.S. in a weaker position in its relationship with Iran, while only 31% believe it has given the U.S. an advantage. 
The poll reveals that only 36% of voters approve of Trump's performance in office, a decrease of 2 percentage points from the previous month. Among independent voters, support has dropped to 21%, an 8-point decline, showing a more significant downturn. 
This trend poses pressure on the Republican Party ahead of the upcoming midterm elections in November 2026. In the survey, 44% of respondents indicated they would support Democratic candidates in the congressional elections, 6 percentage points higher than the 38% supporting Republicans; a month ago, the Democratic lead was only 4 points. 
However, the Republican Party still holds some advantage in voting intent. About three-quarters of Republican supporters rated their voting intent at 8 or above on a scale of 1 to 10, compared to 69% of Democrats and 56% of independents.

Poll: U.S.-Iran Conflict Deemed 'Not Worth It', Trump's Approval Rating Drops to 36%

On July 6, the USD/JPY reached 162, rising 0.40% on the day. (Jin Shi)

[USD/JPY Reaches 162, Up 0.40% on the Day]On July 6, the USD/JPY reached 162, rising 0.40% on the day. (Jin Shi)

USD/JPY Reaches 162, Up 0.40% on the Day

HTX data monitoring shows that AAVE has broken through 90 USDT, currently reported at 90.01 USDT, with a 24H increase of 3.10%.

【AAVE breaks through 90 USDT】HTX data monitoring shows that AAVE has broken through 90 USDT, currently reported at 90.01 USDT, with a 24H increase of 3.10%.

AAVE breaks through 90 USDT

On July 6, JPMorgan released a report stating that the uncertainty surrounding Tencent's WeChat AI Agent lies in whether it can truly integrate into the WeChat platform, the extent of transaction permissions, and whether Tencent can build a supply system for the AI Agent to utilize without relying on existing e-commerce platforms for inventory. With Tencent starting beta testing for the WeChat AI Agent in June, the bank has significantly increased its confidence in the value creation framework. The Agent service is now sufficiently visible, clearly distinguishing between existing components and those that still need to be advanced. This transforms the WeChat AI Agent from an AI option without a clear timeline into a phased rollout project with observable milestones. The bank believes that the initial impact of the WeChat AI Agent launch on the stock price is more likely to come from a reduction in risk premium and an increase in valuation multiples, rather than short-term earnings per share growth. It maintains an 'Overweight' rating on Tencent with a target price of HKD 690.

[JPMorgan Maintains 'Overweight' Rating on Tencent, Target Price HKD 690]On July 6, JPMorgan released a report stating that the uncertainty surrounding Tencent's WeChat AI Agent lies in whether it can truly integrate into the WeChat platform, the extent of transaction permissions, and whether Tencent can build a supply system for the AI Agent to utilize without relying on existing e-commerce platforms for inventory. With Tencent starting beta testing for the WeChat AI Agent in June, the bank has significantly increased its confidence in the value creation framework. The Agent service is now sufficiently visible, clearly distinguishing between existing components and those that still need to be advanced. This transforms the WeChat AI Agent from an AI option without a clear timeline into a phased rollout project with observable milestones. The bank believes that the initial impact of the WeChat AI Agent launch on the stock price is more likely to come from a reduction in risk premium and an increase in valuation multiples, rather than short-term earnings per share growth. It maintains an 'Overweight' rating on Tencent with a target price of HKD 690.

JPMorgan Maintains 'Overweight' Rating on Tencent, Target Price HKD 690

On July 6, BIT Official released a daily chart analysis stating that one of our views for the coming weeks is that Bitcoin's implied volatility may fall below 30% this summer, similar to 2023 and 2025. If this occurs, the options premiums could depreciate by about 30% solely due to the narrowing volatility. Therefore, even though the current implied volatility is close to 36%, we still believe there are opportunities to sell volatility. The market alternates between allowing options buyers and sellers to profit. Currently, we see the opportunity in capturing gains, but we are ready to adjust our strategy as soon as the market environment changes.

[BIT Official: Bitcoin Volatility May Narrow This Summer]On July 6, BIT Official released a daily chart analysis stating that one of our views for the coming weeks is that Bitcoin's implied volatility may fall below 30% this summer, similar to 2023 and 2025. If this occurs, the options premiums could depreciate by about 30% solely due to the narrowing volatility. Therefore, even though the current implied volatility is close to 36%, we still believe there are opportunities to sell volatility. The market alternates between allowing options buyers and sellers to profit. Currently, we see the opportunity in capturing gains, but we are ready to adjust our strategy as soon as the market environment changes.

BIT Official: Bitcoin Volatility May Narrow This Summer

Lao Huang: Prompt is Dead, the Entire AI Community is Frenziedly Chasing Loops

Trading Moments: Bitcoin's 200-week moving average has turned into a resistance level, can the July rise still be realized?

US CFTC Launches Broad Investigation into Polymarket, Is the Prediction Market Party Coming to an End?

How Collector Crypt Uses 'Recirculating Buybacks' to Create an Illusion of Growth

Open USD Stablecoin Puts Circle And Tether On Notice

Probability Falls Below 50%: Is the Clarity Act Dead This Year?

Aave V4 crosses $250M – But ONE liquidity challenge still remains

Vibe Coding Accidentally Burns $550,000 Worth of Tokens, Then Turns Mockery into $700 Million Profit

BIT Official: Bitcoin Volatility May Narrow This Summer

Penafian：Konten diatas tidak merepresentasikan posisi HTX.，HTX tidak memberikan rekomendasi perdagangan apa pun.。

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