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• Stock futures declined following reports of another military or political rout in Korea and the release of TSMC's latest financial results. • The market is reacting to heightened geopolitical risks and concerns that the heavy concentration of AI-related stocks leaves little room for error. • Investors are adopting a cautious tone as they evaluate the broader macroeconomic outlook and the sustainability of the AI-driven rally.

• Federal Reserve Governor Christopher Waller stated that another high inflation reading would serve as a "signal" regarding the central bank's future policy direction. • Waller highlighted that the U.S. labor market remains resilient, citing persistently strong job reports and a stable unemployment rate. • These comments matter as the Fed balances the need to curb inflation without triggering a significant economic downturn or spike in unemployment.

• Asian technology markets are entering a volatile quarter as leading AI companies face critical valuation tests. • Market performance was mixed, with South Korea's KOSPI slumping over 3% and Japan's Nikkei 225 falling more than 1% due to declines in heavyweight tech stocks. • Conversely, Taiwan's benchmark index rose 1% and Hong Kong's Hang Seng gained approximately 0.5%, bucking the regional downward trend.

• The KOSPI index plummeted nearly 9% on the 13th, falling below the 7,000 mark in a session dubbed "Another Black Monday." • The crash was primarily driven by a massive sell-off in semiconductor giants Samsung Electronics and SK hynix, with the latter recording its biggest drop in history. • Market volatility is attributed to fears of a semiconductor "peak-out" due to slowing AI investment and escalating geopolitical tensions between the U.S. and Iran.

• South Korea's benchmark Kospi index plummeted nearly 9% on Monday, marking the steepest market sell-off the country has experienced in several months. • The crash was primarily driven by a sharp retreat in semiconductor shares and heightened investor panic stemming from mounting geopolitical tensions. • This "Black Monday" event highlights the extreme vulnerability of the Korean economy to global chip demand and regional instability.

• Island Pharmaceuticals plans to deploy the antiviral drug galidesivir to Uganda to treat patients during the current Ebola outbreak. • The company acquired galidesivir last year and is seeking FDA approval for Marburg virus disease via the "animal rule," which allows sign-off based on animal data for life-threatening conditions. • This deployment is critical as it provides a rare opportunity to gather real-world clinical evidence from Ebola-infected individuals to support broader global regulatory approvals.

Neso asks for extra supplies from electricity generators to cope with added demand on Thursday nightGreat Britain’s energy system operator has warned that “extreme temperatures” could hit power supplies on Thursday night, as the UK entered its third heatwave of the year.The National Energy System Operator (Neso) issued a notice overnight asking for extra supplies from power generators to cope with the added demand from households turning on fans and air conditioners to cope with the high temperatures. Continue reading...