Next week's major events: SpaceX official IPO, Apple WWDC, China and US inflation data

Next week's major events: SpaceX official IPO, Apple WWDC, China and US inflation data

June 8 - June 14 Major Financial Events of the Week, all times are Beijing Time: Next week (June 8 - 14), the global capital market will usher in the most intensive “super event week” of the year. Technological front: Three major events will erupt on the same day. The largest IPO in history — SpaceX will be priced on June 11 and listed on June 12, raising $75 billion with a valuation of $1.77 trillion, bringing Musk’s net worth close to the trillion mark. Meanwhile, Apple’s WWDC developer conference will be held. JPMorgan predicts a major overhaul for Siri, launching an independent app, and possible integration with Google Gemini models. On the Hong Kong Stock Exchange, the two major AI star stocks, Zhipu and MiniMax, are expected to be included in the Hang Seng Tech Index on June 8, with a combined weight of 5%-7%, resulting in $1.25 to $1.75 billion passive fund inflows, although the pressure from the July unlocking period cannot be ignored. Macroeconomic front: U.S. and Chinese inflation data to be released sequentially. U.S. May CPI is expected to rise to 4.1%, becoming the peak for the year, while core CPI is modest; China’s CPI is expected to grow year-on-year to about 1.4%, PPI may rise to 3.5%. In addition, the European Central Bank is expected to raise rates by 25 basis points, while the Bank of Canada will hold steady, further intensifying divergence in global monetary policy. Other highlights: The 2026 USA-Canada-Mexico World Cup officially opens on June 11; Huawei Developer Conference, Shanghai Carbon Neutral Expo, and Asia Consumer Electronics Show will be held concurrently. Hua Hong company will officially rename itself. Oracle and Adobe earnings reports are also noteworthy. Economic Indicators China May Imports, CPI, PPI China’s May import data will be released on June 9, followed by CPI and PPI data on June 10. Next week, May’s financial data will also be published. Inflation: Huachuang Securities expects PPI year-on-year rise from 2.8% to about 3.5%, and CPI to about 1.4%. CPI’s year-on-year rise is due to better-than-seasonal food prices, policy underpinning improving expectations, and stabilized pork prices. Last year’s low base is also a factor. Financial data: Focus should be on direct financing; May’s new social financing is expected to be 1.4 trillion, 0.7 trillion less than last year. Social financing stock growth is estimated at about 7.5%. M2 in May is expected to grow year-on-year at about 8.3%; new-caliber M1 year-on-year at about 4.6%. Imports and exports: Huachuang Securities expects May dollar-denominated exports to rise about 10% year-on-year, imports 19%. The Middle East continues to drag down exports, and May’s container ships to four Middle Eastern countries were significantly down year-on-year. Midstream demand is expected to remain robust, with electronics likely to stand out. U.S. May CPI, PPI U.S. May CPI and PPI will be released on June 10 and 11 respectively. Market expects, driven by higher gasoline prices, total CPI in May year-on-year will rise to 4.1%, possibly the peak for the year, but core CPI’s month-on-month increase is only expected to be 0.24%, relatively mild. For PPI, overall May PPI is expected to leap to 6.5% year-on-year, mainly driven by rising transportation costs. Key focus is whether consumer caution continues to hold back broader price increases, despite energy and metal price shocks. Japan and South Korea Q1 GDP Data Japan’s Q1 GDP data will be released June 8, and Korea’s Q1 GDP data on June 9. Market attention is on the resilience of both economies amid changes in external demand, especially Japan’s domestic demand recovery and the impact of Korea’s semiconductor exports. Additionally, yen and won exchange rate trends’ effects on trade terms are important indicators for future economic momentum. ECB & Bank of Canada Rate Decisions ECB and Bank of Canada will announce rate decisions June 10-11. Market expects ECB will raise rates by 25 basis points; attention is on whether Lagarde signals further hikes in July or September. Bank of Canada is expected to hold steady, its head stressing inflation pressure is under control, making a moderately accommodative stance appropriate in the short term. Financial Events Biggest IPO in History Incoming! SpaceX to officially list SpaceX is expected to begin issuing and determine final price on June 11. Official listing is on June 12, stock will trade on Nasdaq and Nasdaq Texas with ticker "SPCX". Additionally, reports say SpaceX will hold a large investor event on June 11, inviting 1,500 retail investors. SpaceX plans to issue about 555.6 million shares at $135 each, raising $75 billion, corresponding to a market cap close to $1.77 trillion. $75 billion financing easily surpasses Saudi Aramco’s 2019 record $29.9 billion IPO, making it the largest in history. According to Bloomberg Billionaire Index, calculated at $135 issuance price, Musk’s net worth will reach $988 billion, just one step from being the world’s first "trillionaire". Share price only needs to rise another 2.2% to $138 for this historic moment. Apple WWDC Developer Conference, upgraded Siri may debut Apple’s 2026 Worldwide Developers Conference (WWDC 2026) will be held June 8-12 local time (Beijing time June 9-13). JPMorgan predicts Apple’s AI moment is here. Apple is expected to announce a major overhaul for Siri at WWDC, with Siri launching an independent app, and underlying model possibly switching from self-developed to Google’s Gemini. Multiple third-party AI model options may open to users, with ChatGPT no longer as the sole third-party option. On product lines, foldable iPhone and touchscreen Mac will debut, and iPhone 18 series may increase in price by around $50. Zhipu, MiniMax expected to be included in Hang Seng Tech Index The strongest two IPO stocks on HKEX — Zhipu and MiniMax — are expected to be included in the Hang Seng Tech Index on June 8, with a combined weight of 5%-7%, resulting in approximately $1.25-$1.75 billion passive fund inflows, and Hong Kong Stock Connect will gradually open. However, the real stress test comes in July with unlocking: Zhipu will have 5.83% unlocked, MiniMax nearly 50% unlocked, so liquidity premium faces a test. World Cup Opens The 2026 USA-Canada-Mexico World Cup will run from June 11 to July 19, 2026 local time. 8th Asia Consumer Electronics Show Opens in Beijing CES Asia 2026 (8th Asia Consumer Electronics Show) will be held June 10-12 in Beijing. 2026 Shanghai International Carbon Neutral Expo Opens 2026 Shanghai International Carbon Neutral Technology, Products, and Achievements Expo will be held June 10-12 at Shanghai New International Expo Center. Huawei Developer Conference June 12-14 Huawei Developer Conference (HDC) 2026 will be held June 12-14, 2026 in Songshan Lake, China. Japan Aerospace Agency to Launch H3 Rocket Japan Aerospace Agency will launch the H3 rocket on June 10. Earnings Releases Next week, Oracle, Adobe, VFS, Chow Tai Fook, etc., will release their earnings. Oracle will hold its FY 2026 Q4 financial results conference call at 4:00 PM Central Time on June 10. Beijing time is 6:00 AM, June 11, 2026 (Thursday). Other corporate events include: Foxconn Industrial Internet: Plans a cash dividend of 6.5 yuan per 10 shares, holds annual shareholders’ meeting June 9 Foxconn Industrial Internet will hold the 2025 annual shareholders’ meeting on June 9, 2026. The meeting will review 9 motions including “2025 Board Work Report” and “2026 Related Party Transaction Expectations”, and review the profit distribution plan of 6.5 yuan per 10 shares. Hua Hong Company: Stock short name changed to “Hua Hong Grace” from June 8 Hua Hong announced that its A shares’ short name will change from “Hua Hong Company” to “Hua Hong Grace” from June 8, 2026. The extended A-share short name will change from “Hua Hong Semiconductor Company” to “Hua Hong Grace Semiconductor”, A-share stock code “688347” remains unchanged. In Hong Kong Stock Exchange listings, the Chinese short name changes from “Hua Hong Semiconductor” to “Hua Hong Grace”, English short name changes to “Hua Hong Grace”, stock code “01347” unchanged. Next week’s HKEX earnings disclosure calendar: Risk Warning and Disclaimer The market carries risks, investment needs caution. This article does not constitute personal investment advice, nor does it consider individual users’ special investment goals, financial situations, or needs. Users should consider whether any opinions, views, or conclusions in this article suit their particular circumstances. Investing based on this carries self-assumed responsibility.