ChiNext Index extended gains to 2% before noon; Shanghai Composite rose 0.69%. Humanoid robotics and precious metals led sector gains.

In a CNBC interview, Trump declined to say whether the US would take a 5% stake in OpenAI after a Financial Times report on a potential deal, instead highlighting the US government's stake in Intel. He cited last August's $8.9bn investment in Intel common stock that gave the US government a 10% holding and said he had demanded a 10% stake in return for fixing the company's problems.

BofA says investors sold U.S. equities at the fastest pace since March. A Michael Hartnett-led team, citing EPFR Global, reports $17.2bn of outflows in the week to July 1 — the first weekly redemption in three months after strong inflows earlier this year. Flows favored international stocks: Japan saw the largest inflow in seven weeks at $1.9bn. Continued skepticism over AI-driven valuations weighed on chip names; the Philadelphia Semiconductor Index fell about 11% over the past two trading days.