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- 🌍 Asia Condemns Israel’s Attack on Iran
🌍 Asia Condemns Israel’s Attack on Iran
Reading time: 4 min 44 sec
☕️ Good morning comrades,
We’re calling this a truly toxic relationship: a crafty Chinese businessman made a fortune selling MAGA caps after the assassination attempt on Donald Trump. Now, because of U.S. tariff policy, he’ll likely have to close his factories.
His take on Trump? “Moody and unreliable!”
Speaking of moody: Chinese military experts were far from impressed by Trump’s military parade…
🔢 Facts & Figures
3600 °C
The temperature that China’s new carbide ceramic can withstand in an oxidizing environment. A world record—and a potential breakthrough for hypersonic jets and power plants.
35 billion CNY
Size of the renewed currency-swap agreement between the central banks of China and Turkey (term: three years, extendable).
50,000
Maximum annual vehicle sales in Hong Kong. Leapmotor is entering the market there with two right-hand-drive models to showcase its brand to global buyers and investors.
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| 🇨🇳 Shanghai | 3.402,66 | –0,75 % | +3,51 % | 3.674,41 |
Top Bit: 🌍 Asia Reacts to Israel’s Strike on Iran
What happened?
Israel has, by its own account, struck “dozens of military targets” in Iran, including facilities in its nuclear program. Several Asian countries—China, Japan, Indonesia, and Malaysia—strongly condemned the attack, warned of further escalation in the Middle East, and urged their citizens to evacuate the region immediately.
Details
🛑 Sharp condemnations: China, Japan, Indonesia, and Malaysia have denounced the action as a violation of international law and warned of retaliatory strikes.
✈️ Travel warnings: Tokyo has raised Iran and Israel to Level 3 (“no travel”), while border areas remain at Level 4 (“immediate evacuation”).
📉 Market reaction: Oil prices jumped 13 %, Asian stock markets slid, and shipping companies report renewed disruptions in the Gulf.
🛡️ G7 agenda: Japan’s Prime Minister Ishiba announced he will raise the conflict at the G7 summit, calling for “maximum restraint by all parties.”
Why it matters
Oil supply risk: Threats to Gulf-region oil exports could drive up energy prices and global inflation.
Supply-chain impact: Increased risks for just-in-time models could again disrupt Asian exporters.
Geopolitical tension: Further Middle East instability heightens global tensions on the eve of the G7 meeting.
Background
The strike took place one day after an IAEA resolution accused Iran of violating the Nuclear Non-Proliferation Treaty. Israel maintains that Tehran is “closer than ever” to acquiring an atomic bomb, while Iran insists its program is peaceful.
The US is standing diplomatically with Israel even as it continues negotiations with Iran. For Asia’s economies, the priority is ensuring stable energy imports through the Strait of Hormuz.
Further Reading: Nikkei, Kyodo News
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Head Of The Day
Liu Jingkang
🎥 From Campus to Billion-Dollar Business: After earning his computer science degree at Nanjing University, Liu Jingkang founded Insta360 in 2015 straight from his student dorm, coding the first 360° video–stitcher prototype on an old laptop.
Shortly after its IPO on the Shanghai Stock Exchange, investors catapulted the company’s valuation to ¥71 billion (about $9.9 billion). Liu, who owns roughly 26.8 % of the shares, saw his net worth jump to $2.7 billion, earning him a spot on the Forbes billionaire list.
Market Bit: 🚀 Climate-tech Pioneer Sanhua Targets $1B IPO in Hong Kong
Details
💰 Share issuance: Up to 360 million H-shares at a maximum of HK$ 22.53 each—raising approximately US$ 1.03 billion.
📅 Listing date: HKEX debut scheduled for June 23.
🔄 Market trend: Hong Kong IPOs in 2025 have already raised US$ 9.7 billion—a sharp jump from US$ 1.05 billion the year before.
🌏 Expansion goal: The secondary listing will finance international production and distribution networks.
Why it matters
HK capital-market recovery: Larger listings signal renewed confidence from global investors in Chinese equities.
Green-tech financing: Sanhua’s climate-friendly thermal-management solutions will reach global markets faster with fresh capital.
Diversification of funding sources: More mainland companies are choosing Hong Kong to reduce dependence on US financial centers.
Top Reads
💱 Asia’s Insurers Support Regional Currencies: Dollar hedging in anticipation of USD weakness has pushed the TWD, JPY, and KRW up by 8–11 % since the start of the year; sales of greenbacks to hedge large US bond holdings are driving local currencies. More on this.
☢️ China’s Nuclear Arsenal Grows Immensely: According to SIPRI, the People’s Republic now possesses at least 600 warheads, an increase of about 100 per year. Its inventory of intercontinental missiles could match that of the US and Russia by 2030. More on this.
💸 China’s Consumers Tighten Their Belts: Stagnant wages and job insecurity mean 61 % prefer to save; consumer prices have fallen for four months. Many are turning to cheaper products or relocating to smaller, more affordable cities, while youth unemployment remains at 15 %. More on this.
Optional Reads
India: India aims to develop its own rare-earth deposits and position itself as an alternative to China. More on this.
China: One person killed and four injured in Chongqing after a driver plowed into a crowd. More on this.
Kazakhstan: Second China–Central Asia summit kicks off in Astana—Xi Jinping travels there to deepen trade and security ties. More on this.
🍸 A deer-antler cocktail, please: bars in Chengdu and beyond are spiking drinks with ginseng, deer antler, and other TCM ingredients. Price: ¥100 per glass (around $14). The herbs are macerated in alcohol for months and touted as a “healthy” alternative.
Legal experts warn that unauthorized medicinal herbs like deer antler violate China’s Food Safety Law and could incur fines or even license revocation.
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Thomas, Michael & the Team of asiabits.
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