Eurozone M3 money supply YoY 3.3% in June, matching consensus 3.3%; prior 3.2%.

【今日重點關注的財經數據與事件：2026年7月27日 週一】 ① 16:00 德國7月IFO商業景氣指數 ② 18:00 英國7月CBI零售銷售差值 ③ 20:30 美國6月耐用品訂單月率 ④ 22:30 美國7月達拉斯聯儲商業活動指數

Wall Street Journal columnist James Mackintosh says SK Hynix’s US ADR has traded at a 16–51% premium to the Korea-listed shares since the ADR’s US listing two weeks ago, peaking at a 29% premium on July 24. He calls the gap a sign of overheated AI-related trading and notes conversion restrictions on the underlying Korea shares block ordinary arbitrage (buy Korea/convert to ADR/sell US), allowing the premium to persist. That structural impediment raises the risk of large losses for funds if the premium widens further — short positions or borrowed-stock hedges could be squeezed. By contrast, TSMC’s average US premium since the 2022 ChatGPT launch is ~15%, making SK Hynix’s current premium unusually elevated. Mackintosh cautions US ADR buyers are likely to incur losses unless Korea-listed shares rise; use of ADRs for financing would magnify those losses.