π° Hourly Briefing | 2026-06-29 14:04 CST
Korea announces mega chip & AI data center investment plan; US Supreme Court key rulings ahead; Gold retreats to 4059
π° Hourly Briefing | 2026-06-29 14:04 CST
π Market Snapshot
| Asset | Price | Change |
|---|---|---|
| π₯ Gold XAUUSD | 4058.89 | -0.55% β |
| π’οΈ WTI Crude USOIL | 69.479 | -0.85% β |
Gold pulled back in Asian session from an early high of 4086 to around 4059 as profit-taking emerged. Oil remained below $70 amid ongoing Hormuz Strait shipping disruptions weighing on supply expectations.
A-shares recovered in the afternoon: ChiNext flipped green after dropping over 2% in the morning. SSE 50 futures rose over 2%. Semiconductor equipment and electronic gas sectors rallied collectively, with Haohua Technology hitting limit up. Korea’s KOSPI staged a dramatic reversal from -3% to +1%, while KOSDAQ surged over 8%.
π₯ Key News This Hour
- π°π· Korea Mega Chip & AI Plan: Korean government announced major investment plans for chips, AI, and data centers, committing approximately 550 trillion won for AI data centers and over 1,000 trillion won by 2035. Southwest regions to accelerate memory chip capacity expansion, central regions to focus on advanced packaging, and southeast regions to become a semiconductor materials and equipment hub.
- π°π· Samsung Massive Expansion: Samsung Chairman Lee Jae-yong announced HBM factory construction in Chungcheong and designated Gwangju as a chip production base. SK Hynix rebounded sharply from -6% intraday to turn positive.
- βοΈ US Supreme Court Critical Moment: Multiple landmark rulings imminent involving presidential executive power, birthright citizenship, and Federal Reserve independence, posing a major test to Trump’s authority boundaries.
- π¦ Wush International Debut: Fed Chair Wush will make his first overseas public appearance at the ECB Sintra Forum, with markets focused on his latest views on interest rate paths and AI-related financial risks.
- π¨π³ Xi Meets Lukashenko: Xi Jinping met Belarusian President Lukashenko in Beijing, emphasizing strategic communication and advancing bilateral relations at a high level.
- π US Leverage Risk: Margin debt hits all-time highs as $1.4 trillion in leveraged money floods into US stocks. Firms warn that pullbacks could amplify selling pressure through leveraged ETF and options unwinding.
π§ Market Assessment
Korea’s mega chip & AI investment plan is the biggest incremental development this hour. The 550 trillion won commitment for AI data centers is unprecedented in scale, and combined with Samsung’s HBM expansion, it is directly bullish for the global semiconductor equipment and memory supply chain.
Gold’s retreat from 4086 to 4059 is healthy profit-taking by longs. Short-term support at 4040 is the key level to watch β if it holds, gold remains in a high-level consolidation pattern.
US Supreme Court rulings and Wush’s Sintra debut are the two major event variables this week. The former shapes policy expectations, while the latter will provide fresh signals on the rate path.
Elevated leverage levels in US equities are a medium-term hidden risk. Once the market turns, the unwinding of leveraged ETFs and options positions could accelerate the decline.
β° Upcoming Key Data
- π¬π§ 16:30 UK May Mortgage Approvals
- πͺπΊ 17:00 Eurozone June Industrial Sentiment
- πͺπΊ 17:00 Eurozone June Economic Sentiment
- πΊπΈ 22:30 US June Dallas Fed Manufacturing Activity