News linked to both this project and an event.
Odaily News: Gate Research has released its latest report on Gate TradFi connecting global markets, noting that the four markets—US, Japan, South Korea, and Hong Kong—have different sources of returns: US stocks rely on corporate earnings and technology investment, Japanese stocks benefit from governance reform and improved capital efficiency, Korean stocks are primarily driven by the semiconductor cycle, and Hong Kong stocks depend on Chinese corporate earnings, capital flows, and changes in risk premiums.Since 2016, US and Korean stocks have delivered similar annualized returns, but Korean stocks have notably higher volatility and drawdowns; Japanese stocks offer some diversification value, while Hong Kong stocks have undergone a longer valuation recovery cycle. Backtesting shows that cross-market diversification can reduce reliance on any single market, and trend rotation can help improve drawdowns, but neither can eliminate systemic risk, and higher turnover may increase trading costs.Gate TradFi incorporates US, Japanese, Korean, and Hong Kong stocks into a unified stock account, covering over 10,000 US stocks and ETFs, more than 1,500 Hong Kong stocks, over 1,000 Korean stocks, and approximately 300 Japanese stocks, totaling coverage of more than 12,800 stock and ETF assets globally. The platform further connects index, forex, and metals market data, enabling investors to conduct cross-regional market comparisons, asset screening, and portfolio management within the same trading environment, expanding multi-asset observation and trading scenarios.
Odaily News — Strategy is using large-scale buybacks to push the price of its perpetual preferred stock STRC back toward its $100 par value, in a bid to restore its Bitcoin financing capacity. Between July 20 and September 13, Strategy repurchased a total of 9.96 million STRC shares for approximately $950 million, accounting for about 18% of the trading volume during the same period. Of that, roughly $765 million can be traced to sales of MSTR common stock, while another approximately $161 million came from Bitcoin reductions.STRC had previously fallen to around $70, and has recently rebounded to as high as about $99. Analysts believe that only when STRC's price approaches or climbs above its $100 par value can Strategy effectively reissue the security and use the proceeds to purchase Bitcoin. However, after Strategy pulls back and reduces its buybacks, whether STRC can continue to hold near par value remains uncertain. (Bloomberg)
"1011 Insider Whale" representative Garrett Jin released a weekly analysis stating that while he previously suggested gradually positioning in memory chips and buying on dips, the market did not experience the expected pullback. He has sold half of his previous rebound positions during the surge, not because the investment logic has changed, but due to concerns regarding the capital structure driving the rise, stating, "This looks more like a short squeeze than a final confirmation of fundamentals by the market." Rapid capital covering short positions can create short-term gains for memory chip stocks like SK Hynix, but cannot sustain the trend alone. Risks associated with Korean leveraged ETFs have not been fully released, but the decline in asset size is mainly due to NAV shrinkage rather than investor exit. Currently, cumulative net subscriptions for related financial products remain at historic highs and have not turned negative. Garrett Jin emphasized that the decline in Korean leveraged ETF size does not indicate market bearishness on memory demand. SK Hynix's 2026 capacity is already sold out, and Micron's orders are covered until 2028, with demand remaining strong through the second half of 2027. However, the memory industry is essentially still cyclical. Stock prices have already surged by hundreds of percentage points in advance, and cyclical stocks are typically difficult to sustain long-term growth driven solely by valuation expansion. The current market is entering a new phase of the AI capital expenditure cycle, shifting from "rewarding investment" to "evaluating investment returns." Regarding Bitcoin, Garrett Jin stated it continues to meet the bottoming conditions established since the July lows, and he currently maintains the position view established near $60,000.