U.S. stock markets saw significant gains, with the S&P 500 and Nasdaq Composite reaching new record highs, rising 0.61% and 1.19% respectively, while the Dow Jones Industrial Average declined by 0.23%.
Chip stocks performed strongly, with the Philadelphia Semiconductor Index climbing 5.53% to a fresh all-time high. Memory chip giant Micron Technology closed sharply higher by over 19%, marking its largest single-day gain since November 2011, and its total market capitalization surpassed $1 trillion for the first time. Year-to-date, Micron Technology has accumulated a gain of 210%. With this achievement, Micron joins other industry giants such as NVIDIA, Microsoft, TSMC, and Broadcom as the latest semiconductor company to enter the "trillion-dollar club." According to reports, UBS raised its target price for Micron from $535 to $1,625, implying an upside potential of over 100%.
Other notable gainers included Western Digital, up more than 8%; SanDisk and Advanced Micro Devices, both rising over 7%; KLA-Tencor and Marvell Technology, each advancing more than 6%; Qualcomm and Seagate Technology, up 4%; and Intel, gaining over 3%.
In the space sector, Rocket Lab increased by more than 5%, reaching another new high. Optical communications stock Ciena rose over 3%, with its share price exceeding $600 for the first time.
Most Chinese concept stocks advanced, with the Nasdaq Golden Dragon China Index up 0.57%. Futu Holdings surged nearly 20%, ACM Research jumped close to 18%, JOYY climbed over 17%, UP Fintech Holding gained almost 15%, Qifu Technology rose more than 8%, XPeng and NetEase increased around 6%, while Pony.ai and Tencent Music advanced over 4%. On the downside, Kingsoft Cloud fell more than 8%, and MINISO declined over 4%.
In commodities, international oil prices were mixed. WTI crude oil closed down 2.81% overnight, while Brent crude futures rebounded to finish up 3.6%. Gold experienced a substantial decline, with spot gold falling below $4,500 per ounce. Spot silver edged slightly higher. Concerns over potential production cuts, combined with ongoing supply disruptions in the Middle East, pushed LME aluminum futures up 0.8%, having earlier reached a more than four-year high during the session.
Cryptocurrencies declined across the board, with Bitcoin dropping below $76,000. As of 6:20 AM Beijing time on the 27th, it had fallen over 2% in the past 24 hours. Ethereum and Solana both decreased approximately 2%, while Hype fell more than 4%. Globally, over 97,000 individuals faced liquidations, with total liquidation amounts nearing $350 million.
In related news, reports indicated that Iran's Islamic Revolutionary Guard Corps Navy Deputy Commander Mohammad Akbarzadeh stated that the U.S. and European economies are highly dependent on energy prices and vulnerable to regional developments, using this pressure as leverage to place the U.S. in a position of "request" regarding agreements with Iran. Additionally, the IRGC Navy Public Relations Department reported that in the past 24 hours, 25 vessels, including oil tankers, container ships, and other merchant ships, passed through the Strait of Hormuz with permission and under the coordination and security provided by the IRGC Navy.
Separately, reports highlighted that U.S. national debt has reached $39 trillion, with immeasurable risks stemming from soaring U.S. government borrowing costs. Gary Chen, a senior analyst, warned that in a worst-case scenario, if the U.S. Treasury market—which sees daily trading volumes exceeding $1 trillion, far surpassing U.S. stocks—were to face a crisis, panic and selling would undoubtedly spread to every corner of the financial markets.
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