{"id":65388,"date":"2026-07-25T04:38:20","date_gmt":"2026-07-25T08:38:20","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-wrap-china-hits-trip-com-with-770m-fine-zelensky-signals-peace-readiness-via-trump\/65388\/"},"modified":"2026-07-25T04:38:20","modified_gmt":"2026-07-25T08:38:20","slug":"global-market-wrap-china-hits-trip-com-with-770m-fine-zelensky-signals-peace-readiness-via-trump","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-wrap-china-hits-trip-com-with-770m-fine-zelensky-signals-peace-readiness-via-trump\/65388\/","title":{"rendered":"Global Market Wrap: China Hits Trip.com with $770M Fine; Zelensky Signals Peace Readiness via Trump"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-wrap-china-hits-trip-com-with-770m-fine-zelensky-signals-peace-readiness-via-trump\/65388\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-wrap-china-hits-trip-com-with-770m-fine-zelensky-signals-peace-readiness-via-trump\/65388\/#China_Targets_Tripcom_in_Major_Antitrust_Move\" >China Targets Trip.com in Major Antitrust Move<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-wrap-china-hits-trip-com-with-770m-fine-zelensky-signals-peace-readiness-via-trump\/65388\/#Zelensky_Signals_Diplomatic_Shift_in_Interview\" >Zelensky Signals Diplomatic Shift in Interview<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-wrap-china-hits-trip-com-with-770m-fine-zelensky-signals-peace-readiness-via-trump\/65388\/#UK_Nationalization_Sparks_Tensions_with_Beijing\" >U.K. Nationalization Sparks Tensions with Beijing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-wrap-china-hits-trip-com-with-770m-fine-zelensky-signals-peace-readiness-via-trump\/65388\/#Crypto_Markets_%22Wall_Street_Is_Going_Onchain%22\" >Crypto Markets: &quot;Wall Street Is Going Onchain&quot;<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-market-wrap-china-hits-trip-com-with-770m-fine-zelensky-signals-peace-readiness-via-trump\/65388\/#SpaceX_Advances_Starship_and_Starlink_V3\" >SpaceX Advances Starship and Starlink V3<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>China\u2019s market regulator fined Trip.com Group (<a href=\"\/stock\/TCOM\">TCOM<\/a>) $770 million<\/strong> for abusing its dominant position in the online hotel-booking market through exclusive deals and traffic manipulation.<\/li>\n<li><strong>Ukrainian President Volodymyr Zelensky expressed readiness to sign a peace agreement with Russia<\/strong> at a venue of Donald Trump\u2019s choosing, specifically mentioning the Oval Office or Mar-a-Lago.<\/li>\n<li><strong>The U.K.\u2019s new Prime Minister, Andy Burnham, faces a diplomatic crisis<\/strong> as Beijing lashes out over the recent nationalization of British Steel, formerly owned by China\u2019s Jingye Group.<\/li>\n<li><strong>SpaceX successfully completed its 13th Starship test flight<\/strong>, briefly deploying the first batch of upgraded Starlink V3 satellites designed for direct-to-cell connectivity.<\/li>\n<li><strong>VanEck\u2019s Matthew Sigel identified Robinhood (<a href=\"\/stock\/HOOD\">HOOD<\/a>) and Hyperliquid as leaders<\/strong> for the next crypto bull market, citing a massive shift of Wall Street capital &quot;onchain.&quot;<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"China_Targets_Tripcom_in_Major_Antitrust_Move\"><\/span>China Targets Trip.com in Major Antitrust Move<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>China\u2019s State Administration for Market Regulation (SAMR) has imposed a massive <strong>$770 million (5.2 billion yuan) penalty<\/strong> on Trip.com Group (<a href=\"\/stock\/TCOM\">TCOM<\/a>). The regulator found that the travel giant used its market dominance to secure <strong>exclusive agreements with hotels<\/strong> and forced operators to guarantee the lowest prices on its platform, effectively stifling competition.<\/p>\n<p>The penalty includes the confiscation of <strong>$245 million in &quot;illegal gains&quot;<\/strong> and a direct fine of <strong>$520 million<\/strong>. Trip.com, which operates Ctrip and Skyscanner, has reportedly accepted the decision and pledged to implement corrective measures to restore fair market competition.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Zelensky_Signals_Diplomatic_Shift_in_Interview\"><\/span>Zelensky Signals Diplomatic Shift in Interview<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In a high-profile interview with American commentator Laura Loomer, President Volodymyr Zelensky stated he is <strong>ready to sign a peace agreement with Russia<\/strong> at any location designated by Donald Trump. Zelensky specifically cited the <strong>Oval Office and Mar-a-Lago<\/strong> as potential venues, emphasizing that the timing of the deal is more critical than the location.<\/p>\n<p>Zelensky also noted that a <strong>2025 meeting at the Vatican<\/strong> served as a turning point in his relationship with Trump. He reiterated that Ukraine\u2019s priority remains preserving lives, suggesting that a <strong>ceasefire is a &quot;better alternative&quot;<\/strong> to a decades-long conflict, provided security guarantees are met.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"UK_Nationalization_Sparks_Tensions_with_Beijing\"><\/span>U.K. Nationalization Sparks Tensions with Beijing<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>New British Prime Minister Andy Burnham is facing an immediate foreign policy test following the <strong>nationalization of British Steel<\/strong>. The U.K. government seized the assets to protect &quot;industrial resilience&quot; after the previous owner, China\u2019s <strong>Jingye Group<\/strong>, threatened to shut down blast furnaces in Scunthorpe.<\/p>\n<p>The Chinese Ministry of Commerce expressed <strong>&quot;strong dissatisfaction,&quot;<\/strong> claiming the move deals a serious blow to the confidence of Chinese enterprises investing in the U.K. Analysts suggest this friction could complicate Burnham&#39;s broader economic agenda as he seeks to balance <strong>national security interests with global trade relations<\/strong>.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Crypto_Markets_%22Wall_Street_Is_Going_Onchain%22\"><\/span>Crypto Markets: &quot;Wall Street Is Going Onchain&quot;<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Matthew Sigel, Head of Digital Assets Research at VanEck, believes the next crypto bull market will be defined by the <strong>convergence of traditional finance and blockchain<\/strong>. Sigel highlighted Robinhood Markets (<a href=\"\/stock\/HOOD\">HOOD<\/a>) as a primary beneficiary, noting that the company&#39;s new Layer-2 blockchain attracted <strong>$300 million in deposits<\/strong> within its first two weeks.<\/p>\n<p>Sigel also pointed to the decentralized exchange <strong>Hyperliquid<\/strong> as a key player, noting it is on pace to generate <strong>$800 million in annualized revenue<\/strong>. <em>Market sentiment appears to be shifting toward infrastructure plays<\/em> that facilitate tokenization and on-chain capital markets rather than purely speculative assets.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"SpaceX_Advances_Starship_and_Starlink_V3\"><\/span>SpaceX Advances Starship and Starlink V3<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>SpaceX launched its <strong>13th Starship test flight<\/strong> from its Starbase facility in Texas, marking another milestone in the vehicle&#39;s development. The mission successfully deployed <strong>20 upgraded Starlink V3 satellites<\/strong>, which are designed to provide higher bandwidth and eventually support <strong>direct-to-cell satellite service<\/strong>.<\/p>\n<p>While the Starship upper stage completed a successful suborbital hop to the Indian Ocean, the <strong>Super Heavy booster experienced a &quot;hard&quot; splashdown<\/strong> in the Gulf of Mexico. Five of the booster&#39;s 33 Raptor engines failed to relight during the descent, though SpaceX officials described the overall mission as a <strong>critical step toward routine orbital operations<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways China\u2019s market regulator fined Trip.com Group (TCOM) $770 million for abusing its dominant position in the online hotel-booking 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