π° Hourly Briefing | 2026-07-03 10:03 CST
Gold rebounds to 4180 after weak NFP; China June services PMI slows to 54.1; HK AI stocks surge with Zhipu up ~15%
π Market Snapshot
| Asset | Last Price | Change |
|---|---|---|
| Spot Gold (XAUUSD) | 4180.02 | +56.06 (+1.36%) |
| WTI Crude (USOIL) | 68.89 | +0.47 (+0.69%) |
Gold opened higher and rallied to 4195 before easing, as the weak NFP miss continues to support. Crude edges up in Asia trade amid US-Iran deal expectations and geopolitical cross-currents.
π₯ Key News This Hour
- China June RatingDog PMI Released: Composite PMI 53.6 (prior 54), Services PMI 54.1 (prior 54.4) β both eased but remain in expansion territory.
- HK Tech & AI Stocks Surge: Hang Seng Tech Index +2%, Zhipu +15%, MINIMAX-W +6%, Xiaomi +5%. A-share defense and innovative pharma also rallied while semiconductors saw divergence.
- DJI Escalates Patent War Against Insta360: DJI filed multiple patent infringement lawsuits against Insta360’s Luna series in Chinese courts. The Shenzhen case is set for hearing on August 3.
- Trump Publicly Solicits Musk for SpaceX Equity Donation: Trump hinted he wants Musk to donate SpaceX shares to boost the “Trump Account” launching July 4.
- Japan FinMin Reaffirms FX Intervention Readiness: Katayama restated readiness to act on FX volatility and maintains close communication with US authorities.
- VP Vance on Iran & Oil: Plans to use the US-Iran deal window to replenish global crude reserves while not ruling out renewed military action.
π§ Situation Assessment
The weaker-than-expected NFP print pushes market expectations for a Fed rate hike further out, giving gold a temporary relief rally.
However, inflation concerns remain unresolved, and the sustainability of the precious metals rebound awaits more data confirmation.
HK AI stocks are rallying on improving China sentiment and policy expectations, with visible smart-beta rotation.
US-China tensions continue to play out through patent wars and tariff battles β DJI v Insta360 signals the tech conflict spreading to consumer electronics.
With US-Iran talks progressing and Trump pressuring OPEC to boost output, crude supply looks loose β limited upside in the near term.
β° Upcoming Key Data
- July 4 (Sat) β US Independence Day
- Next week: US June ISM Services PMI, FOMC Minutes, June CPI