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Next Week Outlook: Middle East Tensions and Core PCE Data in Focus, Micron to Report Earnings Post-Market on Wednesday

2026.06.20 20:04:08

**Next Week’s Key Market Catalysts: Middle East Geopolitics, Fed Policy Events, and U.S. PCE Data** (As of June 20; all times below are Beijing Standard Time) Market participants will center their focus on two core themes next week: persistent geopolitical tensions in the Middle East and critical U.S. economic updates, led by the Federal Reserve’s most closely watched inflation gauge—the Core PCE Price Index. Below are high-impact events to watch: - Thursday, June 20, 4:00 AM: The Federal Reserve will release its annual bank stress test results. - Thursday, June 20, 20:30 PM: A slate of key U.S. economic data will be published, including weekly initial jobless claims (for the week ending June 20), May Core PCE Price Index (YoY), May personal spending (MoM), final Q1 real GDP (annualized), revised Q1 real personal consumption expenditures (QoQ), revised Q1 Core PCE Price Index (QoQ), May Core PCE Price Index (MoM), and May durable goods orders (MoM). - Friday, June 21, 3:40 AM: FOMC permanent voter and New York Fed President Williams will deliver remarks. - Friday, June 21, 6:30 AM: FOMC voter (next voting in 2027) and Chicago Fed President Evans will speak. - Friday, June 21, 11:30 PM: FOMC voter (next voting in 2026) and Minneapolis Fed President Kashkari will address the public. The Fed’s Core PCE data is the highlight of next week’s economic calendar. Per the Cleveland Fed’s inflation nowcasting model, May Core PCE is expected to hold steady at 3.3% YoY, while overall PCE is projected to tick up from 3.8% to 4.0% YoY. On the corporate side, memory chip leader Micron Technology (MU) will release its quarterly earnings report after U.S. markets close on Wednesday, June 24. The results are widely seen as a key barometer of global chip demand, with the company guiding for $33.5 billion in revenue and a roughly 81% gross margin.
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South Korea plans to cap individual stock leveraged investment at 20%, and will prioritize monitoring the effectiveness of the new policy taking effect on July 31.

According to South Korea’s JoongAng Ilbo, South Korea’s financial regulatory authorities today decided that if overheating in single-stock leverage product investments fails to abate, additional regulatory measures including individual investment caps will be implemented. The authorities are currently focusing on studying a plan to limit individual stock leverage investments to within 20% of total financial investment holdings. Today, Financial Services Commission Chairman Lee Eog-yun stated at a forum that they will first closely monitor the policy effects of supplementary measures such as enhanced margin requirements that took effect on July 31. Lee added that if demand does not sufficiently cool, additional measures will be researched and prepared in advance. It is understood that the plan under study involves setting aggregate management rules, capping the share of individual stock leverage in total financial investment holdings at 20%. For instance, if an investor’s total financial investment holdings amount to 100 million won, they can allocate a maximum of 20 million won to single-stock leverage products.

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The semiconductor sector on China's A-share market has seen a collective pullback, with multiple stocks in the memory chip segment hitting their daily limit down.

China's A-share main indices fluctuated lower: the ChiNext Index plunged over 7%, the Shenzhen Component Index fell more than 4%, the Shanghai Composite Index dropped around 1.4%, and the STAR 50 Index slumped over 6%. Sectors leading the declines included computing power hardware, coal, precious metals, and semiconductor chips. Nearly 3,000 stocks declined across the Shanghai, Shenzhen and Beijing bourses. The semiconductor sector continued its weakness, with memory chips leading the losses. Key stocks in the sector saw sharp drops: Zhongji Innolight recorded a turnover of 38.004 billion yuan, down 13.38%; Accelink Technologies had a turnover of 25.354 billion yuan, down 14.46%; GigaDevice saw a turnover of 17.208 billion yuan and hit the 10% daily downside limit; Dongshan Precision had a turnover of 13.951 billion yuan, also hitting the 10% daily downside limit; TF Micro recorded a turnover of 12.923 billion yuan, down 9.99%; Cambricon had a turnover of 11.187 billion yuan, down 8.85%; Montage Technology posted a turnover of 10.207 billion yuan, down 8.13%; JCET had a turnover of 8.229 billion yuan, down 5.57%.

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Nanfang Double Leveraged Long SK Hynix Drops Over 30%

According to Bitget's market data, Nanfang's 2x long SK Hynix has fallen by over 30%, while Nanfang's 2x long Samsung Electronics has dropped by more than 27%.

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The user wants me to write a headline for a Lookonchain tweet about an abnormal order that caused liquidations. Let me extract the key information: - An abnormal order pushed $SKHX below $930 - This triggered over $80M in $SKHX liquidations - Trader 0xc985 was liquidated - His position: 2,026 $SKHX ($2.08M) long - Loss: $260K Requirements: - Max 120 characters - Concise English headline - Keep tickers ($SKHX), key amounts, names - No quotes, no hashtag symbols, no trailing period - ONLY output the headline Key elements to include: - $SKHX (the ticker) - The liquidation amount ($80M or reference to large liquidations) - Maybe the individual trader loss for human interest Let me draft options: 1. "Abnormal order triggers $80M+ $SKHX liquidations, trader 0xc985 loses $260K" - Let me count: A-b-n-o-r-m-a-l- -o-r-d-e-r- -t-r-i-g-g-e-r-s- -$-8-0-M-+- -$-S-K-H-X- -l-i-q-u-i-d-a-t-i-o-n-s-,- -t-r-a-d-e-r- -0-x-c-9-8-5- -l-o-s-e-s- -$-2-6-0-K = about 75 characters. Good. 2. "$80M in $SKHX liquidations after abnormal order, trader 0xc985 loses $260K" - about 78 characters 3. "Abnormal $SKHX order triggers $80M liquidations, 0xc985 suffers $260K loss" - about 75 characters Let me verify the first one stays under 120 and captures the essentials: "Abnormal order triggers $80M+ $SKHX liquidations, trader 0xc985 loses $260K" That's clean and includes the key ticker, the large liquidation amount, and the individual trader's loss. Abnormal order triggers $80M+ $SKHX liquidations, trader 0xc985 loses $260K

An abnormal order briefly pushed $SKHX below $930, triggering more than $80M in $SKHX liquidations. Trader 0xc985 was one of the victims. His 2,026 $SKHX ($2.08M) long position was fully liquidated, resulting in a $260K loss.

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HSBC: High-net-worth investors in Singapore and Malaysia still hold allocations to crypto assets, but their funds are shifting to gold, deposits and alternative assets.

HSBC’s *Affluent Investor Snapshot 2026* report shows that global affluent and high-net-worth investors allocated an average of 6% of their portfolios to crypto assets this year, a 1 percentage point drop from 2025, with no clear sign of exiting the asset class. The report notes Singapore-based investors hold 5% of their portfolios in crypto, unchanged from last year, while Malaysian investors’ crypto allocation stands at 6%, also stable. Neither group views crypto as a core wealth holding, instead treating it as part of a diversified investment portfolio. Meanwhile, investors are reducing cash holdings and increasing allocations to other assets: globally, cash and cash equivalents make up 19% of portfolios, down 1 percentage point year-over-year; equity allocations rose to 16%, while fixed income and bonds account for 14%. In Singapore, investors’ top planned asset increases over the next 12 months include time deposits, alternative investments, and gold, with alternative investments seeing notable growth. Malaysian investors favor gold, time deposits, and alternative assets, with the highest planned increase in gold allocations over the coming year. Southeast Asian affluent investors have not abandoned crypto, but amid changing market conditions, its role is shifting from a high-risk growth asset to a satellite holding, forming a diversified portfolio alongside traditional assets like stocks, bonds, insurance, and gold.

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South Korea's KOSPI index has fallen below 6,000 points, down more than 30% from its June peak.

Bitget market data shows that South Korea’s KOSPI index widened its losses in late trading, plunging 11% on the day, breaking below 6000 points for the first time since April 14, and slumping over 30% from its June peak. SK Hynix fell more than 14%, while Samsung Electronics dropped over 13%.

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