Market Overview

The market awaits U.S. CPI inflation data, with U.S. stocks opening higher but closing lower, marking a second consecutive decline. The semiconductor index and $NVIDIA (NVDA.US)$ dropped over 3% at their lowest. $Oracle (ORCL.US)$ fell as much as 10% after earnings, $Applovin (APP.US)$ over 6%, while $Alphabet-C (GOOG.US)$ surged 5.6% following the debut of Willow quantum chips. U.S. Steel plunged nearly 22% intraday on merger failure speculation. $Walgreens Boots Alliance (WBA.US)$ spiked over 23% on acquisition talks.

Chinese stocks fell over 4%. $Fangdd Network (DUO.US)$ plummeted nearly 30% before halving its losses, while $UP Fintech (TIGR.US)$ dropped over 14%, $Bilibili (BILI.US)$ over 11%, and $Taiwan Semiconductor (TSM.US)$ nearly 4%. European luxury stocks broadly declined. Offshore yuan climbed over 250 points, nearing 7.24.

The dollar strengthened while U.S. Treasury prices fell. GBP/EUR hit a 2.5-year high, JPY tested 152, and CAD reached a 4.5-year low. Bitcoin pared losses, recovering to $96,000. Spot gold rose over 1%, testing $2,700.

In Asia, A-shares edged higher, government bond futures rose collectively, and the 10-year yield hit a record low of 1.85%. Hong Kong stocks turned lower, with the $Hang Seng TECH Index (800700.HK)$ down over 1%.