Hong Kong-listed Zhipu (02513.HK) rose more than 10%; trading turnover exceeded HK$3.8 bln.

Quilter Cheviot strategist Ben Barringer said Micron Technology's very strong results suggest the traditionally cyclical memory-chip market is becoming more reliable. Results confirm demand still outstrips supply. Crucially, Micron's shift to long-term customer contracts is providing steadier earnings and reducing exposure to sharp demand swings; the deals effectively set price floors and ceilings and include take-or-pay commitments, smoothing a historically volatile market.

June 24, Beijing — Ren Hongbin, president of the China Council for the Promotion of International Trade (CCPIT), met Austrian foreign minister Beate Meinl-Reisinger, Hungarian ambassador to China Bai Sidi and Malaysian Manufacturers Federation president Li Zuguo. Discussions focused on international supply-chain cooperation, development of emerging industries and collaboration in artificial intelligence. Ren invited participation in the Chain Expo and said CCPIT will act as a bridge to support foreign firms expanding in the Chinese market.