What happened in China this week:
1. MSCI China entered bear market territory, falling 20% from its October 2025 peak.
2. Meanwhile the AI-heavy STAR 50 and ChiNext indices kept surging, gaining more than 9% in this week alone.
3. That AI wins, others lose dynamic played out in dramatic fashion. Optical networking firm Innolight overtook Moutai in market cap for the first time.
4. In Hong Kong, Zhipu AI and Kingboard Laminates surged 85% and 29% respectively in a single week.
5. PCB direct imaging equipment maker CFMEE wants to ride the AI wave with a Hong Kong listing, looking to raise up to HK$3.2 billion.
6. Yum China is buying the Pizza Hut China brand outright for US$1.2 billion. No more royalty fees. Full control.
For more insights, read [Premium]: https://growthdragons.substack.com/p/growth-dragons-weekly-ai-stocks-soar
1. MSCI China entered bear market territory, falling 20% from its October 2025 peak.
2. Meanwhile the AI-heavy STAR 50 and ChiNext indices kept surging, gaining more than 9% in this week alone.
3. That AI wins, others lose dynamic played out in dramatic fashion. Optical networking firm Innolight overtook Moutai in market cap for the first time.
4. In Hong Kong, Zhipu AI and Kingboard Laminates surged 85% and 29% respectively in a single week.
5. PCB direct imaging equipment maker CFMEE wants to ride the AI wave with a Hong Kong listing, looking to raise up to HK$3.2 billion.
6. Yum China is buying the Pizza Hut China brand outright for US$1.2 billion. No more royalty fees. Full control.
For more insights, read [Premium]: https://growthdragons.substack.com/p/growth-dragons-weekly-ai-stocks-soar
Substack
Growth Dragons Weekly: AI Stocks Soar, MSCI China Drops 20% Into Bear Territory
What happend in China this week:
Oil glut bets back in play as crude sinks after US-Iran deal
https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-glut-bets-back-play-crude-sinks-after-us-iran-deal
https://www.businesstimes.com.sg/companies-markets/energy-commodities/oil-glut-bets-back-play-crude-sinks-after-us-iran-deal
The Business Times
Oil glut bets back in play as crude sinks after US-Iran deal
But the market could turn around and rally again if the agreement were to fall apart Read more at The Business Times.
Soaring profits in emerging markets build the case for a raging bull market
https://www.businesstimes.com.sg/companies-markets/soaring-profits-emerging-markets-build-case-raging-bull-market
https://www.businesstimes.com.sg/companies-markets/soaring-profits-emerging-markets-build-case-raging-bull-market
The Business Times
Soaring profits in emerging markets build the case for a raging bull market
Asian tech firms are driving the results, but profits are also improving in other sectors Read more at The Business Times.
Ray-Ban heir escalates fight for control of family fortune
https://www.businesstimes.com.sg/companies-markets/ray-ban-heir-escalates-fight-control-family-fortune
https://www.businesstimes.com.sg/companies-markets/ray-ban-heir-escalates-fight-control-family-fortune
The Business Times
Ray-Ban heir escalates fight for control of family fortune
LEONARDO Maria Del Vecchio, an heir to the Ray-Ban empire built by his late father, publicly challenged his family’s holding company to back his 10 billion euro (S$14.8 billion) buyout of two siblings... Read more at The Business Times.
Italian PM Meloni’s G7 photo spat with Trump shows readiness to risk a bigger fight
https://www.businesstimes.com.sg/international/italian-pm-melonis-g7-photo-spat-trump-shows-readiness-risk-bigger-fight
https://www.businesstimes.com.sg/international/italian-pm-melonis-g7-photo-spat-trump-shows-readiness-risk-bigger-fight
The Business Times
Italian PM Meloni’s G7 photo spat with Trump shows readiness to risk a bigger fight
The choice between appeasing the US president or playing along is one many allies have agonised over Read more at The Business Times.
Singapore cements position as Asia-Pacific wealth hub as region’s AUM set to hit US$34.5 trillion by 2030: PwC
https://www.businesstimes.com.sg/wealth/singapore-cements-position-asia-pacific-wealth-hub-regions-aum-set-hit-us34-5-trillion-2030-pwc
https://www.businesstimes.com.sg/wealth/singapore-cements-position-asia-pacific-wealth-hub-regions-aum-set-hit-us34-5-trillion-2030-pwc
The Business Times
Singapore cements position as Asia-Pacific wealth hub as region’s AUM set to hit US$34.5 trillion by 2030: PwC
The city-state aims to capture opportunities in cross-border wealth, tokenisation and sovereign capital Read more at The Business Times.
A stock trader’s guide to navigating rare ‘Super El Nino’: 5 sectors to watch as risks build
https://www.businesstimes.com.sg/international/stock-traders-guide-navigating-rare-super-el-nino-5-sectors-watch-risks-build
https://www.businesstimes.com.sg/international/stock-traders-guide-navigating-rare-super-el-nino-5-sectors-watch-risks-build
The Business Times
Stock trader’s guide to navigating rare ‘Super El Nino’: 5 sectors to watch as risks build
Impact already being felt across various regions, from a delayed start to the Indian monsoon to a temporary halt to Peru’s fishing season Read more at The Business Times.
#FundFlow
AI capex cycle drives institutional inflows and gains for Singapore’s listed tech manufacturers
https://www.businesstimes.com.sg/companies-markets/ai-capex-cycle-drives-institutional-inflows-and-gains-singapores-listed-tech-manufacturers
AI capex cycle drives institutional inflows and gains for Singapore’s listed tech manufacturers
https://www.businesstimes.com.sg/companies-markets/ai-capex-cycle-drives-institutional-inflows-and-gains-singapores-listed-tech-manufacturers
The Business Times
AI capex cycle drives institutional inflows and gains for Singapore’s listed tech manufacturers
Stocks focused on semiconductor equipment and testing, or AI-driven hardware, mostly see valuation expansions Read more at The Business Times.
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Warning: The S&P 500 Could Be on the Verge of Doing Something for the First Time in 155 Years, and It's Not Good News for Investors
https://finance.yahoo.com/markets/stocks/articles/warning-p-500-could-verge-150500024.html
https://finance.yahoo.com/markets/stocks/articles/warning-p-500-could-verge-150500024.html
Yahoo Finance
Warning: The S&P 500 Could Be on the Verge of Doing Something for the First Time in 155 Years, and It's Not Good News for Investors
The S&P 500 CAPE ratio is at its second-highest reading in history.
Down 17%, Is Netflix a Buy After Walking Away From Warner Bros. and Roku?
https://finance.yahoo.com/markets/stocks/articles/down-17-netflix-buy-walking-145800499.html
https://finance.yahoo.com/markets/stocks/articles/down-17-netflix-buy-walking-145800499.html
Yahoo Finance
Down 17%, Is Netflix a Buy After Walking Away From Warner Bros. and Roku?
The stock is being discounted while nothing has changed the company's growth trajectory.
Course enrolments soar as AI fever grips Singapore
https://www.straitstimes.com/business/course-enrolments-soar-as-ai-fever-grips-singapore
https://www.straitstimes.com/business/course-enrolments-soar-as-ai-fever-grips-singapore
The Straits Times
Course enrolments soar as AI fever grips Singapore
The boost in earnings has been significant for some training providers. Read more at straitstimes.com. Read more at straitstimes.com.
While You Were Sleeping: 5 stories you might have missed, June 22, 2026
https://www.straitstimes.com/world/while-you-were-sleeping-5-stories-you-might-have-missed-june-22-2026
https://www.straitstimes.com/world/while-you-were-sleeping-5-stories-you-might-have-missed-june-22-2026
The Straits Times
While You Were Sleeping: 5 stories you might have missed, June 22, 2026
While You Were Sleeping: 5 stories you might have missed, June 22, 2026 Read more at straitstimes.com. Read more at straitstimes.com.
China AI rally broadens as funds move past overvalued first-tier winners to indirect beneficiaries
https://www.businesstimes.com.sg/companies-markets/china-ai-rally-broadens-funds-move-past-overvalued-first-tier-winners-indirect-beneficiaries
https://www.businesstimes.com.sg/companies-markets/china-ai-rally-broadens-funds-move-past-overvalued-first-tier-winners-indirect-beneficiaries
The Business Times
China AI rally broadens as funds move past overvalued first-tier winners to indirect beneficiaries
Second-tier players are moving to the fore as share prices of direct players mature Read more at The Business Times.
Taiwanese brothers amass US$1 billion from boom in display chips
https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/taiwanese-brothers-amass-us1-billion-boom-display-chips
https://www.businesstimes.com.sg/companies-markets/telcos-media-tech/taiwanese-brothers-amass-us1-billion-boom-display-chips
The Business Times
Taiwanese brothers amass US$1 billion from boom in display chips
Himax Technologies products can be found in everything from Lamborghinis to smartwatches, and have turned the duo into billionaires Read more at The Business Times.
Why it’s nearly impossible to build a robot without China
https://www.businesstimes.com.sg/international/global/why-its-nearly-impossible-build-robot-without-china
https://www.businesstimes.com.sg/international/global/why-its-nearly-impossible-build-robot-without-china
The Business Times
Why it’s nearly impossible to build a robot without China
The country has been making and installing factory robots at a pace unmatched by any other country Read more at The Business Times.
S&P 500 holds on to bullish momentum amid increasing volatility
https://www.businesstimes.com.sg/companies-markets/sp-500-holds-bullish-momentum-amid-increasing-volatility
https://www.businesstimes.com.sg/companies-markets/sp-500-holds-bullish-momentum-amid-increasing-volatility
The Business Times
S&P 500 holds on to bullish momentum amid increasing volatility
AS AT Jun 18, the S&P 500 continued to trade within a strong bullish trend, extending the recovery that began after the market bottomed in April 2026. The sharp reversal from the January to April dec... Read more at The Business Times.
While the world scrambles for oil, China sits on full tanks
https://www.businesstimes.com.sg/international/while-world-scrambles-oil-china-sits-full-tanks
https://www.businesstimes.com.sg/international/while-world-scrambles-oil-china-sits-full-tanks
The Business Times
While the world scrambles for oil, China sits on full tanks
Oil sales to the Asian nation have accounted for 6% or more of the economies of Iran and Russia in recent years Read more at The Business Times.