Keeps

• South Korea's Kospi index plummeted 4.5% as investors aggressively sold off stocks linked to artificial intelligence. • Other Asian markets showed mixed results, with Taiwan's Taiex falling 0.5% and the Shanghai Composite edging 0.1% lower, while Hong Kong's Hang Seng rose 1.7% to 24,984.24. • TSMC shares climbed 1.3% following a previous 7.3% drop triggered by the company's announcement to invest an additional $100 billion in U.S. chipmaking capacity.

• South Korea's Kospi index plummeted nearly 5% as investors aggressively sold off stocks linked to artificial intelligence. • In contrast, Taiwan's Taiex remained relatively stable, edging down less than 0.1% supported by a 2% rise in TSMC shares. • Other regional markets showed strength, with Hong Kong’s Hang Seng rising 2.1% to 25,105.78 and the Shanghai Composite gaining 1.2% to 3,808.39.

• The Supreme Court's conservative majority issued a ruling allowing presidents to fire leaders of independent government regulators for any reason or no reason. • This decision overturns a 91-year-old legal precedent designed to protect agency heads from political pressure and interference. • Critics argue the ruling prioritizes ideology over impartiality, potentially enabling future presidents to abuse executive power.

• The ASX opened higher following the release of weaker US jobs data, which has reduced market expectations for further interest rate hikes. • Commonwealth Bank's John Oh highlighted the significant impact of emerging markets on global growth, noting that China alone drove 42% of net global growth. • Other key contributors to this growth include Bangladesh, India, Indonesia, Malaysia, Pakistan, Sri Lanka, and Vietnam.

• US stock futures for the Dow, Nasdaq, and S&P 500 are trending upward as the market prepares for the final trading sessions of June. • Tech stocks are leading the rebound, with specific gains noted for companies including Arm, Marvell, and Micron. • A ceasefire between the US and Iran has eased immediate fears of Middle East disruptions, though investors remain cautious about the long-term durability of the truce.

• U.S. stock futures are rising following a mixed week on Wall Street marked by a rotation of investments away from technology stocks. • Diplomatic talks between Washington and Tehran have been temporarily paused, according to a Pakistani source. • Representatives from the U.S., Iran, Pakistan, and Qatar remain stationed in Switzerland to restart discussions upon instruction.

• The 22nd edition of the Mise-en-scene Short Film Festival (MSFF) opened this past Thursday, featuring a high-profile jury of prominent Korean entertainment figures. • The festival has established itself as a critical launchpad for emerging talent, serving as the starting point for acclaimed directors such as Na Hong-jin, Um Tae-hwa, and Jang Jae-hyun. • By bridging the gap between indie shorts and major feature films, the event plays a vital role in discovering the next generation of filmmakers who eventually lead hits like "Exhuma" and "The Wailing."

Higher energy costs due to the closure of strait of Hormuz are expected to boost inflation and slow UK growthBusiness live – latest updatesBank of England policymakers have left interest rates on hold at 3.75%, as they continue to weigh the impact of the Iran conflict on the economy.The decision had been widely expected, even before Wednesday’s inflation figure undershot forecasts to remain at 2.8% in May. Continue reading...

• EU negotiators are quietly accepting an uneven trade deal with the U.S. to avoid further tariff threats from Donald Trump. • The decision stems from a desire to protect European exporters who are already struggling under current economic pressures. • This strategic concession has created internal friction, as several European political groups are struggling to accept the terms of the agreement.

• Chinese AI lab DeepSeek has closed its first external funding round, raising over CNY 50 billion (approximately US$7.4 billion). • The deal values the large-language model developer at more than US$50 billion, establishing it as China's most valuable AI startup. • This massive capital injection underscores the intense competition in the AI sector and DeepSeek's strategic position as a national champion.

• U.S. stock markets are approaching new record highs, driven primarily by the continued growth and momentum of the artificial intelligence boom. • Global markets mirrored this optimism, with indexes rising across Asia and Europe, including a significant 2.5% jump in Hong Kong’s Hang Seng index. • This trend underscores the dominant influence of AI-related stocks in propelling broader market valuations upward.

• Asia-Pacific stock markets mostly declined on Tuesday as investors reacted to renewed uncertainty surrounding peace negotiations between the U.S. and Iran. • Significant losses were seen in Japan, where the Nikkei 225 dropped 1.32% and the Topix fell 1.14%, while South Korea's Kospi plummeted 1.92% and the Kosdaq sank 3.13%. • Australia's S&P/ASX 200 also retreated by 0.71%, though Hong Kong's Hang Seng and mainland China's CSI 300 managed marginal gains of 0.13% and 0.1%, respectively.

• On May 25, 2026, India's startup ecosystem saw significant growth across diverse sectors, highlighted by Yes Madam securing Rs 50 crore in new funding. • Key expansions include the entry of Voy into the Indian market, Graamya's rural spice initiatives in Kerala, and the launch of a Quantum AI lab in Mysuru. • The day also marked advancements in deep-tech and the creator economy, alongside the introduction of new maritime research projects at IIT Madras.

Powerful radar system is providing new data on city’s subsidence, which experts hope will draw more attention to itWalking into Mexico City’s sprawling central Zócalo is a dizzying experience. At one end of the plaza, the capital’s cathedral, with its soaring spires, slumps in one direction. An attached church, known as the Metropolitan Sanctuary, tilts in the other. The nearby National Palace also seems off-kilter.The teetering of many of the capital’s historic buildings is the most visible sign of a phenomenon that has been ongoing for more than a century: Mexico City is sinking at an alarming rate. Continue reading...

• Researchers at UCL and UCLH conducted a trial where patients with stage 2 or 3 colorectal cancer received just nine weeks of pembrolizumab immunotherapy before surgery, challenging the standard approach of surgery followed by months of chemotherapy. • Early results showed 59% of patients had no detectable cancer after completing immunotherapy and undergoing surgery, and after 33 months of follow-up, none of the patients have experienced a relapse. • This outcome represents a significant shift in colorectal cancer treatment protocols, suggesting that short bursts of targeted immunotherapy prior to surgery may deliver more durable results than conventional post-operative chemotherapy regimens.

Beijing seeks to decipher effect of Iran war on US midterms and best way to apply pressure when Trump meets XiThe White House said on Wednesday that China had agreed to postpone Donald Trump’s visit to Beijing, as war in the Middle East rages on, complicating the US president’s position at home and abroad.China has not yet commented on the delay to the highly anticipated trip, in which Trump and the Chinese president, Xi Jinping, will meet in person for the first time since October. Trump previously said he hoped to delay the trip, originally scheduled to run from 31 March to 2 April, for “five or six weeks”. Continue reading...

Head of world’s energy watchdog says it will take time for markets to recover from ongoing crisis in strait of HormuzThe world’s energy watchdog will consider releasing further emergency crude stocks into the global market to cool rising oil prices after warning that it will take time for markets to recover from the ongoing crisis in the strait of Hormuz.Fatih Birol, the head of the International Energy Agency, said its members continued to hold large reserves of emergency oil stocks even after agreeing to the biggest release of government crude in the history of the market, meaning more emergency oil reserves could still be released “as and if needed”. Continue reading...