U.S. investment manager Jim Chanos said SpaceX's $1.75 trillion IPO valuation is detached from fundamentals and driven by overly optimistic future expectations.

BofA (BAC.N) to launch new compensation-plan tool.

Chinese stocks opened lower and weakened into the midday session; the Shanghai Composite fell 0.73% at the break, the Shenzhen Composite Index was down 1.32% and the ChiNext Index fell 1.79%. Small metals led gains with tungsten names strong — Xianglu Tungsten and Zhangyuan Tungsten both hit limit up. Helium plays extended multi-day strength: Huate Gas surged about 17% and Heyuan Gas hit limit up. Semiconductor-equipment names rallied, with Juguang Technology, Shengjian Technology and Xuguang Electronics hitting limit up. Home appliances recovered; Hisense Home Appliances hit limit up. Early strength also in oilfield services/engineering, lithium mining, agriculture/livestock, broader semiconductor, glass/fiberglass and coal sectors. Film circuits, lottery, AI training-data and blind-box/AI-agent themes underperformed. Turnover across Shanghai and Shenzhen was about 1.59 trillion yuan at midday, down roughly 135.6 billion yuan versus the same period yesterday; roughly 1,000 stocks advanced and about 4,500 declined.