IPO Watch (AI/Autonomous Driving): Momenta Global kicked off Hong Kong IPO bookbuilding, targeting about HK$5.89b (US$751m) and pricing at HK$295.60 per share, with trading set for July 8; the firm plans to put 60% of proceeds into R&D (including AI computing and data storage) and 20% into scaling robotaxi rollout. Market Rotation (HK Equities): China and Hong Kong stocks rose as investors rotated out of some AI supply-chain names into consumer and healthcare, lifting Hang Seng while tech-linked indexes cooled. Semiconductor Supply Chain (Foundry/Power Chips): Counterpoint Research said “foundry 2.0” revenue rose 23% YoY to US$86b in Q1 2026 on AI GPU/ASIC demand; separately, Soitec and ZenSemi agreed to scale 300mm BCD-on-SOI production for next-gen power electronics. Textiles Circularity (HKRITA): HKRITA announced a Green Machine Circular Textile Ecosystem with Jeanologia and Looptworks to accelerate recycling of blended textiles, aiming at high-purity polyester recovery. Logistics/Air Cargo (Boeing Orders): China Southern and CSA Cargo signed for up to 10 Boeing 777 freighters (including first 777-8F commitments), citing cross-border e-commerce and Greater Bay Area growth. Policy for Rural Tourism (HK): Hong Kong eased licensing rules for rural guest houses and holiday camps, allowing more flexible structural and fire-safety proposals to expand accommodation options. Energy/Geopolitics (Oil): Oil prices edged up as US-Iran tensions flared again, keeping Strait of Hormuz risk in focus. Commercial Property (Office Pressure): Ares and New World cut asking prices up to 57% for units at 83 Wing Hong Street, highlighting ongoing vacancy pressure outside core areas. Tech & Fraud (Cybercrime): Research flagged DCloud Uni-App as a mass-production layer for scam domains, with 236,000+ fraudulent second-level domains linked to reused build patterns. Aviation/State Carriers (Fleet): China Eastern ordered 25 A330neo widebodies from Airbus, while China Southern’s cargo order supports fleet expansion through 2034.