Chinese ETFs and ADRs Jump Premarket; WeRide up 8%; Hesai up 7%; Bilibili up 6%; Alibaba up 4%

TradingKey - On May 20 local time, SB Energy Corp. (ELPC), a digital infrastructure company backed by SoftBank Group, announced that it has confidentially submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC), officially initiating the process for a U.S. initial public offering.

TradingKey - Stock futures jumped on Monday night as oil prices slid and hope grew that a resolution to the U.S.-Iran war was within reach.

Tradingkey - The three major U.S. stock index futures recorded significant gains, with Dow Jones futures up 0.91% at 51,121, S&P 500 futures up 0.91% at 7,559, and Nasdaq 100 futures jumping 1.32% to 29,949. In his latest post on Truth Social, Donald Trump stated that he is using negotiations with Iran as leverage to demand that multiple countries in the Middle East and surrounding regions sign the Abraham Accords, in an attempt to forge an unprecedented Middle East grand alliance that includes Iran.

TradingKey — According to a report by South Korean media outlet THE ELEC on Monday, Micron Technology (MU) is ramping up production capacity for its sixth-generation High Bandwidth Memory (HBM4) twice as fast as its 12-layer HBM3 products, with simultaneous yield improvements. Meanwhile, Micron has transitioned the manufacturing of base dies for its next-generation HBM4E to TSMC, with mass production planned for 2027. Market expectations for Micron have shifted from being "excluded from Nvidia's (NVDA) supply chain" three months ago to becoming a "key supplier" today. Market focus now centers on whether this reversal can propel Micron's stock price past $1,000.

TradingKey — With Elon Musk’s SpaceX set to launch its IPO in mid-June, the space economy theme is becoming the new favorite of global capital markets, with related exchange-traded funds (ETFs) experiencing explosive growth.