Global Market

• European stock markets are experiencing a robust rally, with key indices reaching all-time highs and attracting significant global investor interest. • The surge is primarily driven by strong corporate earnings growth and improving overall economic momentum across the region. • Money managers view this upward trend as a durable shift based on improved fundamentals rather than a temporary market spike.

• Europe's STOXX 600 index achieved its fourth consecutive record closing on Friday, fueled largely by a surge in technology stocks. • The rally mirrored strong performance on Wall Street, following U.S. jobs data that indicated a cooling labor market. • This economic shift is significant as it reduces the probability that the Federal Reserve will implement an interest rate hike in September.

• Asian shares showed mixed performance in early trading as investors shifted focus toward upcoming US jobs data. • Treasury futures declined and the 10-year yield held at 4.68% following a seven basis point climb during the US session. • Rising energy prices have intensified concerns that the Federal Reserve may maintain elevated interest rates to combat inflation.

• European stock markets reached record highs driven by strong corporate earnings and investor optimism regarding a potential peace agreement between the U.S. and Iran. • Key contributors to the rally included resilient technology shares and sectoral advances led by companies such as Deutsche Telekom and Glanbia. • The surge in sentiment is significant as it eases global energy supply concerns and reflects improving earnings expectations across the region.

• The BSE Sensex gained 400 points and the Nifty climbed above 24,600 on Wednesday, driven by positive global cues and strong Asian equity performance. • Market growth was supported by the Reserve Bank of India's (RBI) decision to keep key interest rates unchanged and an upward revision of the GDP forecast. • Key contributing factors included optimism over technology earnings, increased FII buying, lower crude oil prices, and hopes for the reopening of the Strait of Hormuz.

• Major Asian multi-strategy hedge funds experienced sharp losses in July 2026 due to a significant selloff in artificial intelligence and technology stocks. • The downturn was driven by declining tech shares across key markets, specifically Japan, South Korea, and China, which erased gains made earlier in the year. • Despite the rout, these platform funds outperformed pure stock-picking peers because their diversified strategies mitigated some of the losses.

• TSMC and Intel are advancing CoPoS (Chip-on-Panel-on-Substrate) glass substrate packaging to improve semiconductor efficiency. • Intel reports that its EMIB-T packaging yield has exceeded 90%, aiming for mass production by 2027 at approximately half the cost of TSMC’s CoWoS. • This shift occurs as embodied AI moves into a scaling phase, making commercial deployment critical for companies seeking funding.

• A survey of 1,000 IT decision-makers by Alibaba Cloud and NielsenIQ reveals that Malaysia is the only Asian market among eight surveyed where 100% of respondents plan to increase AI investment. • The data highlights a significant regional demand for localized AI, as only about half of the respondents prefer English as their primary language for AI solutions. • Enterprises in Japan, South Korea, Indonesia, and Thailand identified the scarcity of high-quality local-language models as a primary constraint hindering their AI development.

• Over 50% of South Korea's listed companies surpassed market expectations in their second-quarter earnings reports. • These strong financial results indicate that corporate fundamentals remain resilient despite significant volatility currently affecting the Kospi. • The trend is critical as it bolsters investor confidence in the underlying strength of the Korean economy amidst market instability.

• Apple CEO Tim Cook announced that India was among the company's best-performing markets globally during a record-breaking June quarter. • The company achieved revenue records across all geographic segments, with India specifically emerging as one of the strongest markets for Mac products. • Globally, the Mac business generated a record $10.4 billion in revenue, representing a 29% year-on-year increase driven by the MacBook Neo and MacBook Pro.

• The UK stock market rallied today, with the FTSE 100 reaching a new intraday record high near 10,988. • The climb was driven by positive global market momentum, upbeat corporate earnings, and broad-based buying across the FTSE 250, 350, and All-Share indices. • Market performance was heavily influenced by energy giants like Shell and BP, as well as positive economic indicators including strong retail sales and PMI data.

• Asian stock markets showed mixed results on Thursday, driven by a decline in semiconductor shares and volatility following the Federal Reserve's latest policy decision. • U.S. Treasury yields climbed to multi-decade highs, while corporate stocks diverged as Microsoft rose on cloud growth and Meta fell due to its financial forecasts. • South Korea introduced new stabilization measures to support its domestic stock market after experiencing a significant rout.

• On July 31, the Indian stock market showed strong gains, with the Sensex rising over 300 points and the Nifty 50 crossing the 24,400 mark. • The rally was driven by positive global cues, specifically a surge in chipmakers and AI optimism following aggressive infrastructure investment plans from US tech giants Amazon and Microsoft. • International markets mirrored this trend, with South Korea’s Kospi surging up to 17%, led by major electronics firms Samsung and SK Hynix.

• South Korea and Taiwan have dropped to tenth and seventh place, respectively, in global stock market capitalization rankings following a significant selloff. • The decline was triggered by investor concerns regarding the long-term sustainability of capital expenditure within the artificial intelligence sector. • In contrast, India's markets remained resilient with the Sensex gaining 0.6% over the past month, securing India the sixth spot globally with a market cap of $5.1 trillion.

• South Korea and Taiwan experienced a significant decline in their global stock market capitalization rankings following an AI-driven selloff. • Taiwan dropped to seventh place and South Korea fell to tenth globally as investors grew concerned over the long-term sustainability of artificial intelligence capital expenditures. • The downturn follows a period of initial gains, highlighting the volatility and high sensitivity of these tech-heavy markets to AI sector sentiment.

• Crude oil prices surged nearly 5%, exceeding $83 per barrel, as renewed conflict in the Middle East sparked market volatility. • US equity and Treasury futures declined while the US dollar strengthened, reflecting a general trend of risk aversion among investors. • JPMorgan Chase & Co. analysts suggest the probability of a Fed rate hike is below 30%, though there is a 50% chance of a "hawkish hold" to maintain vigilance against inflation.

• The UK stock market traded higher today, with the FTSE 100 gaining 0.44% and remaining near record highs. • This growth was driven by a global "risk-on" sentiment fueled by easing US-Iran tensions, falling oil prices, and strong corporate earnings. • The rally is supported by resilient UK economic indicators, specifically positive PMI data and strong retail sales, which have boosted investor confidence.

• Global financial markets are entering a "super-week" centered on the Federal Reserve's interest rate decision scheduled for July 29. • The week features a critical convergence of central bank policy updates and earnings reports from tech giants, including Apple and Microsoft. • Market analyst Juan Mu-hua warned that the stock market is already showing "cracks" and may be unable to withstand further heavy pressure.

• European stock markets rose following a decrease in geopolitical tensions between the United States and Iran. • A sharp slump in oil prices provided a boost to specific sectors that are highly sensitive to fuel costs. • Investors are now shifting their focus toward upcoming quarterly earnings reports from major US technology companies.

• The US government has accused Chinese AI firms of intellectual property theft following the release of Moonshot AI’s Kimi K3 model. • In response to security concerns and a breach involving a US model, the US administration is introducing the "Kill Switch Act" to shut down models deemed rogue or threatening. • Australian operators argue these accusations are hypocritical and represent an anticompetitive strategy to protect US market dominance against global competition.

• Investors are maintaining an optimistic outlook on India's long-term economic growth, driven by steady foreign investment flows and strong domestic consumption. • Benchmark indices saw significant growth, with banking, financial services, and technology companies emerging as the strongest performers. • This trend is fueled by expectations of sustained credit growth and improved profitability for major Indian banks.

• Major European stock indices, including Frankfurt’s DAX, London’s FTSE 100, and Paris’s CAC 40, posted solid gains during recent trading. • The growth was primarily driven by resilient corporate earnings outlooks, strong performance in technology-heavy sub-indices, and steady domestic consumer demand. • These gains signal market confidence in the industrial sector despite ongoing economic volatility.

• President Lee Jae Myung held a dinner meeting on the 24th in San Francisco with global AI leaders, including NVIDIA CEO Jensen Huang and heads of Samsung Electronics, Hyundai Motor Group, and SK Group. • During the event, President Lee announced the ‘San Francisco AI Declaration’ at the San Francisco AI Summit to strengthen South Korea's role in the global AI supply chain. • The meeting brought together industry giants with a combined market capitalization of 1.7 gyeong (approximately 17 quadrillion won), highlighting the immense economic scale of the AI sector.

• Cboe Global Markets is seeing steady stock performance driven by strong growth in options trading volume, market data, and clearing services. • Investors are closely monitoring derivatives volumes, earnings trends, and index exposure to determine the company's long-term financial trajectory. • The company's strategic priorities and risk management are overseen by a board of directors with expertise in financial markets, technology, and regulation.

• Chinese stocks declined on Thursday as AI and semiconductor shares continued a correction driven by profit booking in high-priced technology stocks. • Losses were partially offset by strength in defensive sectors, specifically banking, gold, and rare earths. • In contrast, Hong Kong markets outperformed the mainland, seeing gains in Tencent and other broad technology shares.

• BNP Paribas reported a 33% increase in second-quarter net profit to €4.35 billion, surpassing analyst expectations. • The growth was primarily driven by strong equity trading, a recovery in retail banking, and gains from its insurance partnership with Ageas. • As the first major European investment bank to report Q2 earnings, the results highlight how the sector capitalized on market volatility and a resurgence in M&A and IPO activity.

• European shares declined as technology stocks faced pressure from weak semiconductor earnings and growing concerns regarding AI spending. • Energy stocks saw gains as escalating tensions in the Middle East drove up Brent crude oil prices. • Investors are currently cautious and focused on the upcoming European Central Bank (ECB) policy decision to determine future interest rate directions.

• The European Central Bank (ECB) is expected to keep interest rates steady during its upcoming policy meeting. • While holding rates, policymakers are likely to signal that further hikes remain a possibility for September. • This cautious strategy is driven by rising energy prices, which threaten to reignite inflationary pressures across the euro area.