Blockbuster

• Asian stock markets declined as investor concerns over artificial intelligence valuations outweighed Samsung's strong earnings report. • Major indices saw losses, including the Shanghai Composite falling 1.2% and the CSI 300 dropping 1%, while Australia's S&P/ASX 200 slipped 0.4%. • Regional economic data showed Thailand's June inflation slowed to 2.4% from 2.8%, primarily driven by lower energy costs.

• Tate Modern is hosting a major summer exhibition focusing on Frida Kahlo's evolution into a global icon, though the show features a limited number of her original works. • The exhibition explores how Kahlo intentionally initiated her own iconic status, a perspective supported by leading feminist art historians. • The scarcity of works reflects broader tensions, such as the April protests in Mexico City over the long-term loan of key pieces, including the 1933 "Self-Portrait with Necklace," to Spain.

• Financial strategists maintain a bullish outlook on Asian stock markets, specifically focusing on South Korea and Taiwan as primary growth drivers. • Goldman Sachs Asia-Pacific strategist Timothy Moe has set a target of 12,000 for the KOSPI Composite index, projecting a potential 32% gain from Thursday's close. • This optimistic forecast is driven by the expectation that corporate earnings in the region will continue to rise significantly.

• Several European stocks have experienced a blockbuster rally, with some gaining over 100% this year driven by the global AI investment frenzy. • Companies like Nokia are positioned to support AI infrastructure, though they face a more restrictive regulatory environment than their U.S. counterparts. • The expansion of AI in Europe is currently hindered by power grid constraints, data center moratoriums, and strict compliance requirements under the EU AI Act.

• The Los Angeles Lakers acquired All-Star guard Devin Booker from the Phoenix Suns in a multi-team trade, pairing him with LeBron James for the 2026-27 season. • The Lakers sent four future first-round picks and three young players to complete the deal worth approximately $180 million in payroll implications. • NBA insiders describe the trade as a championship-caliber move designed to compete immediately in the Western Conference.