Morgan Stanley: AI chip sector cools, cloud giants may see rotation.

According to HTX market data, Bitcoin has remained under pressure since the opening of Asia-Pacific stock markets this morning, falling below $63,000 and currently trading at $62,886.82, with a 0.95% decline in the past 24 hours. According to Bitget market data, Japan’s Nikkei 225 index has fallen 2.00% on the day. South Korea’s KOSPI index triggered circuit breakers twice, plummeting 8%.

According to Hyperinsight monitoring, the whale with the address starting with 0x0ad, spotted yesterday, did not cut losses amid today’s continued slump in South Korean semiconductor stocks, instead adding to its SK Hynix (SKHX) position after the stock fell to around $1,400. As of press time, this address has opened 97 long positions, purchasing a total of 1,428.571 units worth roughly $2 million. Following the addition, its SKHX long position has risen to 6,523.79 units, valued at approximately $9.024 million, with an average entry price of $1,559.32. At the current price of $1,383.30, the position is showing an unrealized loss of around $1.148 million. Currently, the address also holds a long position in Micron (MU) worth roughly $7.53 million, with an unrealized loss of about $978,000. Combined, the two semiconductor long positions total around $16.554 million, with a total unrealized loss of approximately $2.126 million; it has placed take-profit sell orders for 5,095 SKHX units at prices ranging from $1,604 to $1,615, with a notional value of roughly $8.184 million. Earlier update: "Whale Alert: SK Hynix’s largest long position holder built its position with $2.7 million, now facing an unrealized loss of $370,000" — HyperInsight Bot is now live. Add @HyperInsightBot to your Telegram group and set it as an admin (enable message sending permission) to automatically sync on-chain information.

Iranian Foreign Minister Alaghasi stated that if threats persist, negotiations on the final agreement will not commence, urging relevant parties to uphold their commitments.

According to official announcements, Upbit will list the OPG/KRW trading pair, with trading scheduled to open at 15:30 local time on July 7. Separately, HTX market data shows that OPG surged nearly 40% in the short term driven by the listing news, and is now trading at $0.1779.

Goldman Sachs said in its latest report that semiconductor stocks still offer investment opportunities after a pullback, but trading in AI chips has entered a phase requiring more selective picking, warning investors against simply buying the entire sector. The bank noted that the PHLX Semiconductor Index has risen more than 80% so far this year, significantly outperforming the S&P 500 and Nasdaq indices. This strong performance has raised the bar for subsequent earnings delivery, and made the risk-reward outlook more divergent ahead of the second-quarter earnings season. Goldman Sachs remains bullish on select sub-sectors, including CPUs, ASICs, memory, and semiconductor equipment. The bank believes these areas benefit more directly from the expansion of AI infrastructure and have relatively higher demand visibility. For individual stocks, Goldman Sachs named AMD and Applied Materials: AMD gains from server CPU and AI-related demand, while Applied Materials stands to benefit from advanced process technologies and memory capital expenditures. However, Goldman Sachs is more cautious about the mobile supply chain, as well as some semiconductor firms with high valuations or weak demand.

The Wall Street Journal published an article yesterday analyzing the recent high volatility in South Korea’s stock market. The piece cited data showing that over the past year, South Korea’s KOSPI index has seen 77 instances of single-day volatility exceeding 2%. Over the same period, the S&P 500, a key U.S. stock index, has only recorded 5 such sharp swings. The KOSPI has logged 44 days with single-day volatility above 3%, while the S&P 500 has never breached that threshold. The index has also seen 23 days of single-day volatility over 5%. The report notes that this volatility has become one of the factors drawing many South Korean retail investors, who trade purely for the sake of trading. Maxence Visseau, founder of macro and quantitative hedge fund Arkevium Capital, commented: “For retail investors seeking excitement, volatility is exactly what draws them in.” The report also points out that foreign capital outflows exceeded $100 billion (equivalent to around 154 trillion won) in the first half of this year, with $30 billion flowing out in June alone. This trend “could ultimately lead to losses for local investors.”