CBS: U.S. Treasury Secretary and Trump Once Had Heated Debate on Tariff Policy

According to Hyperinsight monitoring, ZHIPU on Hyperliquid plummeted before Hong Kong stock market opening. Within about an hour, it hit a low of $120.7, down roughly 17%; the decline continued during Hong Kong trading hours. On the news front, ZHIPU completed the placement of 19.78 million new H shares on July 13. On July 17, Moonshot AI released the 2.8-trillion-parameter open-source model Kimi K3, intensifying market concerns over China’s large language model competitive landscape, leading ZHIPU’s Hong Kong-listed shares to drop 28.49% that day. No new company-specific negative news has been identified as of press time. The sharp price drop has further hit ZHIPU’s largest long position holder: a whale wallet starting with 0xddb. The whale currently holds 7,300 contracts with 10x isolated long leverage, with a position value of approximately $905,000, average entry price of $174.2, and liquidation price of around $78.3. It has an unrealized loss of about $367,000, a return rate of -288.2%, equivalent to 2.88 times its initial position cost of $127,000. The whale first opened a long position near $198.45 on the evening of July 6 and has not sold since; at 10:12 today, it added 409.1 contracts against the trend at $129.6. - 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.

The State Council Information Office held a press conference to brief on the development of industry and information technology in the first half of 2026. Xie Cun, spokesperson of the Ministry of Industry and Information Technology (MIIT) and Director-General of the Department of Information and Communication Development, stated that over the past two years, more than 70 major computing power corridors have been built around national computing power hub nodes, with network performance between these hub nodes improved by 10%. The current explosive growth of large AI models and agent applications has driven a continuous rise in demand for intelligent computing power. Going forward, the MIIT will continue to follow the systematic work approach of "point, chain, network, dimension, and system" to optimize the deployment of computing infrastructure resources, build interconnected computing power nodes, and enhance the utilization efficiency of computing power resources. In terms of focusing on key points, the MIIT will optimize the deployment of computing power resource supply, coordinate factors such as industrial development and energy supply, promote the construction of intelligent computing clusters and the coordinated development of computing power and electricity, build a tiered computing power layout, and strengthen overall monitoring of computing power. Additionally, it will issue guidelines for the construction of a computing power standard system, and promote the establishment of standards including computing power service capability evaluation and market-based pricing for computing power.

Moody's Analytics noted in a report that South Korea's second-quarter economic growth is likely to slow to 0.9% from 1.8% in the first quarter. Driven by an AI-fueled semiconductor boom, exports—especially semiconductor shipments—will again act as the key growth driver. South Korea's domestic demand is projected to stay weak, with consumption seeing only a marginal improvement. High energy costs have amplified inflationary pressures, while government measures can only partially ease the strain. South Korea's preliminary second-quarter GDP figure will be released on Thursday.

South Korean exchange KRX triggered the sidecar mechanism due to KOSPI index volatility, suspending program trading for approximately five minutes. The sidecar mechanism is designed to address sharp short-term fluctuations, restricting only program trading while manual trading remains normal. Unlike the circuit breaker mechanism, the sidecar does not halt entire market operations, functioning more like a "speed bump" during periods of market volatility. By contrast, circuit breakers are typically used in extreme market scenarios, suspending all trading across the market when triggered to prevent panic-driven volatility from escalating further.

Citigroup has adjusted its rating on South Korean stocks from "overweight" to "neutral" amid sharp volatility in chip stocks over recent weeks, as the bank seeks to reduce its exposure to artificial intelligence (AI) themed investments. A poster child for the global AI trading frenzy, South Korea’s KOSPI index has become the world’s best-performing stock market this year. However, in recent weeks, the market has faced sharp swings due to retail investors’ enthusiasm for single-stock leveraged ETFs and valuation concerns. Citigroup remains structurally bullish on the AI sector’s outlook, but has shifted its stance on the South Korean market to neutral.

According to Hyperinsight monitoring, SK Hynix (SKHX) on Hyperliquid saw sharp volatility after opening this morning. The token opened at $1168.1, surged to a high of $1270.1 within half an hour, marking an ~8.7% gain, before quickly pulling back. At 9:55 a.m., it hit a low of $1185.3, down ~6.7% from its peak. During this swing, three whales sequentially opened long positions on SKHX, holding a total of 11,620.674 contracts worth roughly $14.036 million. Based on SK Hynix’s current quoted price of $1198, all three long positions are now underwater: - Whale starting with 0xf4b: New long position with 10x leverage, holding ~$2.715 million, average entry price of $1210.6, unrealized loss of ~$9,000, liquidation price of $1130.4. - Whale starting with 0x564: New long position with 10x leverage, holding ~$4.918 million, average entry price of $1238.9, unrealized loss of ~$125,000, liquidation price of $851.5. - Whale starting with 0x2ab: Converted from a short position to long and continued adding to longs, with 10x leverage, holding ~$6.403 million, average entry price of $1212.8, unrealized loss of ~$25,000, liquidation price of $650.3. Notably, the 0xf4b whale is closest to liquidation. When SKHX dipped to $1185.3 intraday, the gap between its entry price and liquidation price narrowed to just ~$54.9; as the price rebounded to $1298, the gap has since widened to ~$68.