The upcoming week from June 21st to June 29th is packed with significant financial and economic events, all times listed are Beijing Time.
Key Events to Watch This Week
On the macroeconomic front, the Federal Reserve's preferred inflation gauge, the May PCE price index, will be released on June 25th. A hotter-than-expected reading could reinforce the Fed's hawkish stance. The final reading for Q1 GDP, also due on the same day, will further validate the economic impact of AI infrastructure investments. Domestically, China's June Loan Prime Rate (LPR) is set for release on Monday, having remained unchanged for 12 consecutive months. May's industrial enterprise profit data is also due. Japan's Tokyo CPI and South Korea's import/export data will be released, with a focus on whether AI chip demand continues to support semiconductor exports.
At the industry level, the spotlight remains on AI. OpenAI's most powerful GPT-5.6 series models are expected to debut next week. The NVIDIA Annual General Meeting will focus on the production ramp of the Blackwell and new Vera architectures and capital return plans. Micron Technology's earnings will directly test whether the memory chip cycle has reached an inflection point. The major tech conference, MWC Shanghai, opens on June 24th, focusing on 6G, mobile AI, embodied intelligence, and other cutting-edge directions. Additionally, the ByteDance Volcano Engine FORCE Conference will be held from June 23rd to 24th, where the Doubao large model may receive an upgrade.
In capital markets, MSCI will announce its annual market classification review on June 23rd, with South Korea potentially entering the watchlist for developed market status, a move that could attract billions in passive fund inflows. SK Hynix may list in the US as early as August, with SEC approval possible as soon as the week of June 22nd. Furthermore, Marvell Technology and Flex will be added to the S&P 500 index.
Economic Indicators
The US May PCE price index and Q1 real GDP data are due on Thursday, June 25th. Market expectations are for the core PCE to rise 0.3% month-over-month, with the year-over-year rate increasing from 3.3% to 3.4%. A strong reading would strengthen the hawkish signals from the June Fed meeting. The final Q1 GDP reading is expected to remain at an annualized quarter-over-quarter rate of 1.6%, with the year-over-year rate rising to 3.4%. The market anticipates a significant jump in equipment spending, benefiting from AI-related infrastructure investment, while consumer spending growth is expected to slow.
China's June LPR will be announced on Monday, June 22nd. The rate has been steady for 12 months. On Saturday, June 27th, China will release May's industrial enterprise profit data. Profits in April showed a faster recovery, growing 24.7% year-over-year.
South Korea will release its import/export data for the first 20 days of June on Monday, June 22nd. The market is watching to see if semiconductor exports can maintain their strong growth momentum, supported by AI chip demand. Japan will release Tokyo's June CPI data on Friday, June 26th, with the core CPI expected to rise 1.6% year-over-year. This data will influence market expectations for a potential Bank of Japan rate hike by year-end, with some expecting a hike to 1.25% in December.
Major Financial Events
The market is closely watching the follow-up to US-Iran negotiations, with reports indicating talks are scheduled for June 21st in Switzerland.
OpenAI's strongest GPT-5.6 series models are expected to be launched next week, with versions including mini, standard, and Pro.
The NVIDIA 2026 Annual General Meeting is scheduled for 9:00 AM Pacific Time on June 24th (12:00 AM Beijing Time, June 25th). The focus will be on the production ramp of Blackwell and the new Vera architecture chips, progress in AI ecosystem commercialization, and plans for capital returns from its substantial cash flow.
The 2026 ByteDance Volcano Engine FORCE Conference will be held from June 23rd to 24th. It is considered a major catalyst for ByteDance's AI industry chain, with themes centered on the upgrade of the Doubao large model, the explosion of the Agent ecosystem, increased investment in computing infrastructure, and the deployment of edge/industry applications.
The 2026 MWC Shanghai, organized by the GSMA, will take place in Shanghai from June 24th to 26th. As a key event in the Asia-Pacific region for mobile communications and digital technology, this year's conference will focus on 6G, 5G-A, mobile AI, integrated space-air-ground networks, embodied intelligence, and other frontier areas.
SK Hynix plans to list in the United States as early as August. The US SEC could approve its ADR listing application as soon as the week of June 22nd. SK Hynix stated in March that it had confidentially filed for a US listing.
MSCI will announce the results of its annual market classification review on June 23rd, which will determine whether South Korea enters the watchlist for developed market status.
Chipmaker Marvell Technology and electronics manufacturer Flex will be added to the S&P 500 index. The change will take effect at the market open on Monday, June 22nd, with Campbell's and Pool Corp being removed from the index simultaneously.
The Bank of Japan will release the summary of opinions from its June monetary policy meeting on June 24th. On June 25th, BoJ Governor Kazuo Ueda will speak at an IMF-hosted central bank lecture. Markets are watching for signals from his public remarks, as he missed the June policy meeting due to illness. Additionally, the central banks of Thailand and Mexico will announce interest rate decisions next week.
Following the June FOMC meeting, several Federal Reserve officials, including New York Fed President John Williams, are scheduled to deliver speeches.
NATO Secretary General Jens Stoltenberg is scheduled to meet with former US President Donald Trump in Washington on June 24th.
The fourth China International Supply Chain Expo will open at the China International Exhibition Center in Beijing from June 22nd to 26th. The 2026 China (Shenzhen) Integrated Circuit Summit will be held on June 26th.
Reports indicate that Apple's first foldable iPhone, the iPhone Fold, will enter mass production on June 25th.
The World Economic Forum's 17th Annual Meeting of the New Champions, also known as the "Summer Davos Forum," will be held in Dalian, Liaoning Province, from June 23rd to 25th. The theme is "Scaling Innovation," with over 1,500 attendees from more than 50 countries expected.
Corporate Earnings
Micron Technology's earnings conference call for its fiscal 2026 third quarter is scheduled for 4:30 PM Eastern Time on June 24th (4:30 AM Beijing Time, June 25th).
Next week, memory chip giant Micron Technology will report its latest earnings. Other companies reporting include Trip.com, Sanrio, Oracle Japan, Gamuda, Bosideng, Luk Fook Holdings, and Bright Smart Securities.
Initial Public Offerings
Sino IC Technology and SG Micro are proceeding with their Hong Kong IPOs. Sino IC plans to issue 12.8 million shares, with pricing expected on June 24th and trading to commence on June 26th. SG Micro plans to issue 54 million shares, also with pricing on June 24th and trading starting June 26th.
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