Business Times

• South Korea's stock market is increasingly influencing global equity trends due to the dominant role of AI-driven semiconductor companies. • Industry giants SK Hynix and Samsung Electronics are central to this shift, serving as pivotal suppliers of the high-bandwidth memory chips essential for AI infrastructure. • This trend matters because the performance of these Korean tech firms acts as a bellwether for the broader global AI trade and semiconductor demand.

• President Xi Jinping attended the World AI Conference on Friday, where he advocated for a "people-centred" approach to the development of artificial intelligence. • Xi highlighted China's progress in creating low-cost AI and emphasized the need for equitable access to AI capacity building for developing nations. • The initiative aims to prevent "new historical injustices" and challenge existing technological monopolies by promoting a more open global technological order.

• National Development Minister Chee Hong Tat announced increased support for construction technology firms that innovate and apply robotics and automation solutions. • To facilitate adoption, developers and contractors will be provided with a list of certified technology partners for JTC projects. • The initiative aims to bridge the gap between innovation and industry use by helping startups integrate proven solutions after successful testing.

• Asian stocks, including the MSCI Asia Pacific Index, declined by 0.3% following a selloff of semiconductor chips on Wall Street. • The downturn was primarily driven by investor concerns regarding the valuations of artificial intelligence (AI) stocks, leading to losses in markets across Japan and Australia. • This shift reflects growing volatility in the tech sector as investors question whether AI-driven growth can sustain current high market prices.

• Speakers at the 2026 CEO Summer Forum, hosted by the Federation of Korean Industries (FKI) in Jeju Island on Thursday, outlined the next phase of the AI revolution. • Experts argued that future progress will shift away from simply building larger language models toward improving AI literacy and developing AI-native business models. • A critical technical focus will be the creation of energy-efficient semiconductor designs to sustain AI growth and reduce power consumption.

• Asian stock markets climbed following the release of soft US Consumer Price Index (CPI) data, with MSCI’s Asia Pacific equities gauge rising by 1.2%. • South Korea's Kospi index saw a significant rally of over 6%, driven largely by gains for chipmaker SK Hynix. • Positive momentum was also observed across other major regional markets, including Japan and Australia.

• China's GDP growth in the second quarter slowed to its lowest pace in three and a half years, missing market expectations. • The year-on-year growth rate marks the slowest expansion since the fourth quarter of 2022. • This cooling indicates a significant slowdown in China's economic momentum, raising concerns about the country's overall recovery trajectory.