Public Markets 8-Hour Briefing
×Asian Markets
The Kospi has surged over 40% this year, breaking above the 6,000 level for the first time. The South Korean benchmark's advance driven by memory chip demand has been fueled by a global memory boom. Asian stocks opened higher after a tech-led rebound in US markets, with Japanese stocks also benefiting from potential corporate governance reforms that could unlock $840 billion in cash.
US Markets
US stock futures traded flat ahead of President Trump's address and Nvidia's earnings report. The Nasdaq bounced back after AMD-Meta deal on AI chips, while markets grapple with AI-induced volatility. A report by Citrini triggered stocks selloff, and the AI-linked fears continue roiling Wall Street after years of hype and gains.
Commodities
Gold edged higher in early Asian trading on possible position adjustments, though it dipped for a second day on prospects of prolonged rate holds. Oil rose as traders weighed the outlook for a US-Iran nuclear deal, with the market remaining on edge due to American military deployments in the Middle East.
Corporate Earnings
Fortescue's half-year earnings climbed on record shipments, sending shares higher. In Australia, Wise Tech jumped on upbeat half-year results and AI-driven job cuts, while Woolworths surged on strong half-year earnings. HSBC faces an earnings test after its stock rallied 89% from lows. PayPal extended its rally after reports suggesting Stripe may be interested in acquiring parts of the company.