Piper Sandler initiates coverage of SpaceX with a MAINTAIN rating and PT $156.

Southbound Stock Connect flows net bought CNY 5.039 bln today. Via Shanghai Stock Connect, Zhipu AI and Alibaba were the largest net buys at HKD 1.84 bln and HKD 1.191 bln respectively; Xiaomi was the biggest net sell at HKD 0.687 bln. Via Shenzhen Stock Connect, Alibaba and Tencent were top net buys at HKD 1.642 bln and HKD 1.541 bln respectively; Kingboard Laminates led net sells at HKD 1.07 bln.

The Bank of Korea Monetary Policy Committee on the 28th said it will continue to maintain a tightening stance after announcing the first rate hike in three-and-a-half years. The committee said exports and investment—supported by a strong semiconductor cycle—should keep growth robust and that inflation is likely to remain above target for an extended period, with this year’s GDP growth now expected to be materially higher than the May forecast of 2.6%. It also flagged rising financial-stability risks: won-dollar volatility has widened, housing-related and other loans have risen in tandem, driving a sharp increase in household credit and a further firming of Seoul-area house prices. On balance, the committee judged it necessary to maintain a policy tightening stance.