KOSPI Closes at 7,096.89, Up 299.19 Points (4.40% Up) - The Asia Business Daily

• The Quant Growth & Income (QG&I) portfolio is currently outperforming the S&P 500 by leveraging a data-driven strategy to navigate market volatility. • The strategy focuses on three top stocks that provide a combined average yield of 3.56%, balancing capital appreciation with steady income.

• A recent inspector general report revealed that Federal Reserve Board and reserve bank staffers were "untimely" in updating bank supervisory marks. • The report found that examiners often took several months to close supervisory findings even after the identified issues had been resolved.

• Wall Street shares declined during the U.S. session as investors reacted negatively to massive spending increases from tech giants Alphabet and Tesla. • UniCredit CEO Andrea Orcel informed CNBC that the bank has reached an optimal outcome regarding its acquisition of Commerzbank shares, benefiting both institutions.

• JPMorgan Chase issued a research report warning that the "earnings fuel" driving U.S. stock growth is depleting as the upside for earnings revisions narrows. • Despite strong second-quarter results and raised full-year guidance from companies like BNY Mellon, Johnson & Johnson, and ServiceNow, the S&P 500 faces significant resistance at record highs.

• The Australian June Labour Market Report released during the Asian session on July 23, 2026, showed results significantly stronger than market expectations. • The Swiss National Bank (SNB) continues to monitor the franc, maintaining the option for foreign-exchange intervention to prevent excessive appreciation from threatening price stability.

• The stock market experienced a decline today, driven by a combination of rising crude oil prices, weak quarterly earnings, and significant selling in the banking sector. • Financial stocks were among the hardest hit, with IndusInd Bank seeing heavy profit-booking following a recent rally, which limited the benchmark indices' ability to recover.

• Paramount has secured a time extension to oppose a prolonged halt regarding its merger, amid lawsuits from the Writers Guild of America and a California-led state coalition. • Opponents argue the merger would stifle industry competition and reduce the overall demand for professional screenwriters.

• The KOSPI index experienced a significant surge, rising from a low of 2,284.72 on April 9 of last year to 9,385.59 by June 19 of this year. • Concurrent economic shifts include the Japanese Yen hitting a 40-year low against the US Dollar, highlighting regional financial instability.

• Emcure Pharmaceuticals has acquired the remaining 12.05% stake in Gennova Biopharmaceuticals for Rs 231.87 crore, turning the company into a wholly owned subsidiary. • Sumeet Industries approved the allotment of 16.84 crore equity shares via a rights issue at Rs 11.86 per share, raising its paid-up equity share capital to Rs 138.95 crore.

• The Sensex and Nifty indices have declined for four consecutive sessions, driven by rising crude oil prices and escalating tensions between the US and Iran. • Market analysts highlight significant risks including rising inflation, bearish technical indicators, and persistent volatility affecting investor sentiment.

• Global markets are monitoring key economic indicators, including U.S. jobless claims, Japan's inflation data, and the European Central Bank's (ECB) upcoming monetary policy decision. • The semiconductor and Asian tech sectors are seeing support from strong cloud demand, though they remain vulnerable to high valuations and fluctuating bond yields.