Next week's major events: "The Fed’s favorite inflation indicator," Nvidia shareholders meeting, possible new model from OpenAI, Micron earnings report

``` June 21 - June 29: Major Financial Events of the Week (All times Beijing Time): Key points to watch next week: On the macro front, the Fed’s most closely watched inflation indicator — the May PCE Price Index — will be released on June 25. If the data is hotter than expected, it will further reinforce the Fed’s hawkish stance. On the same day, the final value of Q1 GDP will also be published, which will verify the economic boost from AI infrastructure investment. In China, the June LPR will be released on Monday, having remained unchanged for 12 consecutive months; May industrial enterprise profit data will also be published. Japan’s Tokyo CPI, and South Korea's import and export data will be released simultaneously, focusing on whether AI chip demand can support semiconductor exports. Industry-wise, the focus is on AI. OpenAI’s most powerful model, the GPT 5.6 series, is expected to debut next week. Nvidia's shareholder meeting will focus on capacity ramp-up and capital return plans for the new Blackwell and Vera architectures; Micron's earnings will directly test the inflection point in the memory chip cycle; On June 24, the major tech event Mobile World Congress Shanghai will open, focusing on 6G, mobile AI, embodied intelligence, and other cutting-edge directions. In addition, the Volcano Engine FORC conference will be held June 23-24, with an expected upgrade to the Doubao large model. Capital markets: MSCI will announce its annual review on June 23, with South Korea likely to be included in the Developed Markets Watch List, potentially attracting hundreds of billions in passive inflows; SK Hynix is set to list in the U.S. as early as August, with SEC expected to approve it as soon as the week of June 22. Marvell Technology and Flex will be added to the S&P 500. Economic Indicators - U.S. May PCE Price Index, Q1 Real GDP Data On Thursday, June 25, the U.S. will release the May PCE Price Index. Market expectation is for core PCE to rise 0.3% MoM, with YoY rising from 3.3% to 3.4%. If this PCE data is hotter than expected, it will reinforce the hawkish signals from the Fed's June monetary policy meeting. On the same day, the U.S. will release the final value of 2026 Q1 GDP. The market expects it to remain at an annualized 1.6% QoQ, with YoY rising to 3.4%. Driven by AI infrastructure spending, Q1 equipment spending is expected to surge, while consumer spending growth may slow. - China May Industrial Enterprise Profits Above Designated Size, June LPR On Monday, June 22, China will announce the June LPR, which has remained stable for 12 consecutive months. On Saturday, June 27, China will release May national industrial enterprise profit data. In April, profits saw an accelerated rebound, up 24.7% YoY. - Japan Tokyo CPI, South Korea Imports & Exports On Monday, June 22, South Korea will release data for imports and exports for the first 20 days of June. Market focus is on whether South Korea’s semiconductor exports can maintain strong growth driven by AI chip demand; recent prospects of a U.S.-Iran peace deal have eased oil prices, potentially alleviating import cost pressures. On Friday, June 26, Japan will release its Tokyo June CPI data, with the market expecting a 1.6% YoY rise for core CPI. This data will influence expectations for a year-end BoJ rate hike, which is expected by the market in December to reach 1.25%. Financial Events - Closely watch the follow-up to U.S.-Iran talks; reports say both sides will negotiate in Switzerland on the 21st. According to Xinhua (June 20), Pakistan has confirmed that technical-level talks between Iran and the U.S. will be held in Switzerland on the 21st. Iran’s negotiating team departed for Switzerland, possibly including parliament speaker Ghalibaf and foreign minister Aragchi. U.S. Vice President Vance will also go to Switzerland for talks with Iran. - OpenAI’s Most Powerful Model GPT 5.6 Expected to Debut Tech media Testingcatalog reported on June 19 that OpenAI is set to release the GPT-5.6 series next week, including mini, standard, and pro versions. - Nvidia Shareholder Meeting Nvidia's 2026 annual shareholder meeting will be held online at 9:00 AM Pacific Time on June 24 (midnight, June 25, Beijing Time). The focus will be on ramping up capacity for the new Blackwell and Vera chip architectures, commercialization of the AI ecosystem, and capital return plans for their large cash flows. - 2026 Volcano Engine FORC Conference, June 23-24 The 2026 Volcano Engine FORC Conference will be held June 23-24. This is one of the strongest catalysts for ByteDance's AI industry chain, focusing on "Doubao large model upgrade, Agent ecosystem explosion, increased computing infrastructure, edge/industry application implementation." - 2026 Shanghai Mobile World Congress Opens From June 24-26, the 2026 Shanghai Mobile World Congress, hosted by GSMA, will be held in Shanghai. As a major event in mobile communications and digital technology in the Asia-Pacific, it will focus on the latest topics such as 6G, 5G-A, mobile AI, air-space-ground integration, and embodied intelligence. - SK Hynix Plans to List in the U.S. in August, with SEC Approval Possible as Early as the Week of June 22 According to Reuters sources, SK Hynix plans to list in the U.S. as early as August. The SEC is expected to approve the application as early as the week of June 22. SK Hynix had secretly filed for a U.S. listing in March. - MSCI to Announce Annual Market Classification Review; South Korea Expected to Enter Developed Market Watch List MSCI will announce results of its annual market classification review on June 23, when it will decide if South Korea can be included in the developed market watch list. - Marvell Technology and Flex to Join S&P 500 Chipmaker Marvell Technology and electronics manufacturer Flex will soon join the S&P 500 index. Changes take effect as of the U.S. market open on Monday, June 22, with Campbell's and Pool Corp simultaneously removed from the index. - Bank of Japan to Publish June Monetary Policy Meeting Summary of Opinions, Kazuo Ueda to Deliver Public Speech On June 24, BoJ will publish the summary of opinions from its June monetary policy meeting. On June 25, BoJ governor Kazuo Ueda will attend a central bank lecture hosted by the IMF. Previously, Ueda missed the June meeting due to illness—markets will be closely watching his public remarks. In addition, next week the Thai and Mexican central banks will announce rate decisions. - Multiple Fed Officials, Including Williams, to Speak After June FOMC Meeting After the June FOMC meeting, multiple Fed officials will give speeches. On June 26, Minneapolis Fed President Kashkari, Chicago Fed President Goolsbee, and New York Fed President Williams will all deliver speeches. - NATO Secretary General Rutte to Meet Trump in Washington on June 24 NATO Secretary General Rutte is set to meet Trump in Washington on June 24. - The Fourth Chain Expo Opens in Beijing The 4th Chain Expo will be held from June 22 to June 26 at the China International Exhibition Center (Shunyi Hall) in Beijing. On June 26, the 2026 China (Shenzhen) Integrated Circuit Summit will be held. - Apple’s First Foldable iPhone Fold to Enter Mass Production June 25 Reports indicate Apple’s first foldable iPhone Fold will begin mass production on June 25. - “Summer Davos Forum” to be Held June 23-25 in Dalian According to CCTV News, the 17th World Economic Forum Annual Meeting of the New Champions (the “Summer Davos Forum”) will take place June 23-25 in Dalian, Liaoning. This year's theme is “Innovation at Scale,” with over 1,500 attendees from about 50 countries and regions representing politics, business, academia, and international organizations. Earnings - Micron Earnings Call Micron Technology’s fiscal Q3 2026 earnings call will be held at 4:30 PM U.S. Eastern Time on June 24 (4:30 AM June 25 Beijing Time). - Earnings: Micron, Bosideng, Trip.com, Sanrio, etc. Next week, storage chip giant Micron will release its latest earnings. Trip.com, Sanrio, Oracle Japan, Gamuda, Bosideng, Luk Fook Group, and Bright Smart Securities are also set to report earnings. - Xcmini Microfabrication, SG Micro Hong Kong IPOs to Start Trading June 26 Xcmini Microfabrication has approved a Hong Kong IPO to issue 12.8 million shares, with pricing set on June 24 and trading starting June 26. SG Micro to issue 54 million shares, also priced June 24, trading starts June 26. Risk Warning and Disclaimer The market involves risk, and investments should be made with caution. This article does not constitute personal investment advice nor does it consider the unique investment goals, financial situation, or needs of any particular user. Users should consider whether any opinions, views, or conclusions in this article are appropriate for their own circumstances. Investments based on this information are at your own risk. ```