Overtakes

• South Korea has surpassed India to become the world's sixth-largest stock market by market capitalization. • The shift was driven by a massive surge in the valuation of semiconductor heavyweights, which are critical to the global artificial intelligence infrastructure buildout. • This transition highlights the significant economic impact of the AI boom on South Korea's chip-centric economy compared to India's growth trajectory.

• South Korea has surpassed India to become the world's sixth-largest stock market. • The East Asian nation achieved this ranking in 2024 by vaulting past several major economies, including Canada, Germany, the UK, and France. • This shift highlights a significant increase in the valuation and global competitiveness of South Korean equity markets relative to other G7 and emerging nations.

German-owned discounter’s sales rise 8.8% year on year as households seek ways to keep bills downLidl has overtaken Morrisons to become the UK’s fifth largest grocer as its sales were powered ahead by households seeking to keep a lid on their weekly bills.The German-owned discounter increased its sales by 8.8% year on year – making it the fastest-growing store-based grocer – to hit a record high market share of 8.6% over the 12 weeks to 17 May, according to figures from the market analysts Worldpanel by Numerator. That compared with an 8.3% share for Morrisons in the period as the Bradford-based chain grew its sales by only 1.3% compared with a year earlier. Continue reading...

• A new social media group dubbed the 'Cockroach' group has gone viral in India, surpassing the Instagram follower count of the ruling Bharatiya Janata Party (BJP) within just five days of its creation. • The group focuses on mobilizing Gen Z by discussing critical socio-economic issues, including inflation, unemployment, and national politics, utilizing a humorous tone to engage young audiences. • This surge in popularity highlights a growing trend of youth-led digital activism and a shift in how India's younger generation expresses political discontent.

• Asia has emerged as the new center of the global AI boom, surpassing Silicon Valley, fueled by surging demand for AI chips that propelled Asian tech stocks higher. • The AI-driven rally boosted South Korea's Kospi to a fresh record close of 7,981.41, up 1.8%, supported by technology shares amid robust corporate results in Japan. • Investors monitored U.S. approvals for around 10 Chinese firms, including Alibaba and Tencent, to purchase Nvidia AI chips, highlighted during Trump’s China visit with Nvidia CEO Jensen Huang.