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Person dies after landslide hits apartment building in southern city of Geoje as torrential rains lead to power cuts and mass evacuationsTorrential downpours that pounded southern parts of South Korea since Saturday have killed one person and injured four others, officials have confirmed.Heavy rains have been recorded in South Gyeongsang province, including the city of Geoje, where an 800mm (31in) deluge over the weekend triggered a landslide, the interior and safety ministry said. The rain continued on Monday, bringing the cumulative rainfall total to 912mm by 6pm. Continue reading...

• US stock markets, including the S&P 500, Nasdaq, and Dow, rose as falling crude oil prices and softer inflation data boosted investor sentiment. • Core Producer Price Index (PPI) rose 0.2%, coming in below the 0.3% forecast, following a July Consumer Price Index (CPI) increase of 0.1%. • These subdued inflation readings are significant because they have led traders to reduce expectations for a potential interest rate hike in September.

• OpenAI has suspended specific development phases of its upcoming Astra model following an internal security review. • The pause occurred after the model reached a "critical cybersecurity threshold," demonstrating the ability to independently identify and execute attacks against secure real-world systems. • This move highlights the growing tension between advancing AI capabilities and the risk of creating tools that could be weaponized for large-scale cyber warfare.

• Asian equities declined on Thursday, August 6, as the recent technology-driven rally on Wall Street lost momentum. • South Korea's Kospi experienced the sharpest drop, tumbling 3.71%, while Japan's Nikkei fell 1.68% and the MSCI Asia Pacific Index slipped 0.2%. • The downturn signals a shift toward regional caution, with Hang Seng futures also pointing 0.9% lower.

• U.S. stocks slid on August 5, 2026, following a period of record-breaking highs for the Dow Jones Industrial Average and S&P 500 driven by strong corporate earnings. • Investors are currently pausing to evaluate several volatile factors, including rising oil prices and the status of ongoing diplomatic negotiations between the U.S. and Iran. • Market attention is now shifting toward upcoming financial reports from major companies, specifically Disney, Shopify, and Kimberly-Clark.

• Asian stock markets surged on Wednesday, with the MSCI Asia-Pacific index (excluding Japan) rising 2.3% and Chinese blue chips gaining 1.5%. • The rally was driven by strong corporate earnings and a renewed appetite for technology stocks, mirroring record highs on Wall Street and boosting Japan's Nikkei by 3.5%. • South Korea's market experienced significant volatility with a 4.3% increase, while oil prices and bond yields declined amid hopes for progress regarding the Strait of Hormuz.

• Oil prices tumbled on Monday, August 3, while global stocks mostly rose following US President Donald Trump's announcement that he is preparing for new talks with Iran. • The market shift is driven by hopes that these diplomatic efforts will lead to a deal ending the ongoing war in the Middle East. • Conversely, Asian technology stocks faced heavy losses, with South Korea's Kospi index dragged down by chipmakers SK Hynix and Samsung.

Cotality data shows a drop in Brisbane, Adelaide and Perth, as nation’s median home price falls about $19,000 below its March peakGet our breaking news email, free app or daily news podcastHouse prices have fallen in Brisbane, Adelaide and Perth as the market downturn spreads across Australia.New Cotality data, released on Monday, showed prices have fallen across most of the nation since May. Continue reading...

• Qualcomm shares fell 2.55% to $147.74 today, continuing a period of sustained downside momentum. • The selloff occurred despite the company's strategic push into AI compute and a new partnership with BMW. • Investors remain cautious due to persistent weakness in Qualcomm's core handset segment, which is offsetting growth initiatives.

• Asian stock markets experienced a significant decline, highlighted by South Korea's KOSPI sinking 8% and Taiwan's benchmark index falling nearly 4%. • The sell-off was driven by a combination of AI-related jitters, geopolitical tensions following Iranian attacks, and fears that China's growing semiconductor ecosystem will pressure established chipmakers. • Other regional markets also retreated, with Hong Kong’s Hang Seng easing about 1.5% and mainland China’s Shanghai Composite and CSI 300 both declining over 0.5%.

• South Korea's benchmark Kospi index plunged 6% on Wednesday, closing at 5,663.24, its lowest level since early April. • The decline was driven by a massive selloff in chipmakers after SK Hynix reported quarterly earnings that missed analyst expectations despite growing nearly sixfold year-over-year. • The crash reflects growing investor anxiety regarding the sustainability of AI spending and the future demand for semiconductor components.

• Asian stock markets experienced a significant decline, highlighted by South Korea's KOSPI sinking 8% and Taiwan's benchmark index falling nearly 4%. • The sell-off was driven by a combination of AI-related jitters, geopolitical tensions following Iranian attacks, and fears that China's growing semiconductor ecosystem will pressure established chipmakers. • Other regional markets also retreated, with Hong Kong’s Hang Seng dropping about 1.5% and mainland China’s Shanghai Composite and CSI 300 declining over 0.5%.

• South Korea’s KOSPI index extended its decline with a 12% drop on Wednesday, led by a 20% plunge in SK Hynix shares. • Despite posting record quarterly earnings, SK Hynix faced investor skepticism regarding high valuations and the long-term sustainability of AI-driven demand. • The downturn mirrored a broader regional retreat in semiconductor stocks across Japan and Taiwan, fueled by concerns over the massive capital costs of AI infrastructure.

• Chip stocks experienced a significant decline across US and Asian markets on Tuesday as investor anxiety regarding the AI sector increased. • South Korea's Kospi index suffered a sharp 8% slump, triggering a temporary pause in trading to stabilize the market. • Amidst the volatility, an unnamed company announced plans to utilize the majority of its IPO proceeds to expand production and fund research and development.

• ASML shares dropped more than 5% in early trading on Tuesday following reports of a chipmaking breakthrough by a Chinese competitor. • The decline stems from potential competition in the production of extreme ultraviolet (EUV) lithography machines, which ASML currently monopolizes globally. • This development is significant because these machines are essential for manufacturing the world's most advanced, cutting-edge semiconductors.

• Global futures markets declined as a significant sell-off in technology stocks continued, leading to a sharp downturn in semiconductor investments. • The South Korean Kospi index experienced a severe crash, plummeting 10% and triggering a trading halt to stabilize the market. • Analysts suggest the rout is a legitimate opportunity for investors to diversify their portfolios and lock in profits after previous gains.

• Asian chip stocks have declined due to fears of increasing competition from China in the AI trade. • CXMT is seen as a rising competitor, particularly in commodity DRAM, although it still lags behind Korean competitors in HBM. • The concerns over China competition are rattling the AI trade, with U.S. chip stocks also extending losses.

• European shares remained subdued on Tuesday as a global selloff in technology stocks was offset by gains in luxury and consumer sectors. • Market stability was further supported by a decline in oil prices, balancing the volatility seen in the tech industry. • Investors are closely monitoring upcoming earnings reports from major U.S. tech firms to determine if the AI-driven market rally is sustainable.

• Asian stocks fell sharply on Tuesday, led by a widespread sell-off in semiconductor shares due to growing skepticism regarding the financial returns on AI spending. • South Korea's KOSPI index was heavily dragged down by double-digit drops in chip giants SK Hynix and Samsung, while Japan's Nikkei 225 hit a two-month low. • Mainland Chinese equities also ended lower, though the Hang Seng Index managed modest gains supported by robust IPO activity and strong capital inflows.

• Indian shares are projected to open higher on Monday, potentially breaking a five-session losing streak. • The positive outlook is driven by a sharp decline in oil prices following a pause in strikes between the United States and Iran over the weekend. • GIFT Nifty futures were at 23,974.50 as of 7:59 a.m. IST, suggesting the benchmark Nifty 50 will open above its Friday close of 23,767.45.

Rolling coverage of the latest economic and financial newsYet another company has been picked off London’s stock exchange this morning: DCC Energy has agreed to a £5.75bn takeover by private equity investors KKR and Energy Capital Partners.Shareholders in the FTSE 100 energy distributor will receive £65.25 per share ‌in cash, a proposed ‌final dividend of 147.22p per share, and a potential payment of up ‌to £1.25 per share if DCC can sell its technology unit for at least $800 million.Whilst the DCC Energy Board remains confident in the energy strategy and associated 2030 Ambition announced in 2022, the Board believes the Consortium’s offer represents a compelling opportunity for shareholders to crystallise value in cash at an attractive premium to DCC Energy’s historical trading price.We are confident that the Consortium will be strong stewards of DCC Energy’s 50-year heritage and support the business during its next phase of growth.” Continue reading...

• The Union cabinet approved a stringent anti-paper leak Bill that introduces penalties of up to 10 years in prison and fines of Rs 10 crore to combat exam fraud. • In Himachal Pradesh's Lahaul-Spiti district, at least 13 people are feared dead after a taxi was crushed by boulders during a monsoon-triggered landslide. • The Central government is delaying a decision on Education Minister Dharmendra Pradhan's resignation following unsuccessful talks with NEET protest leaders.

• The US stock market experienced a significant downturn, sliding nearly 2% as investors shifted toward a risk-off sentiment. • The decline was driven primarily by losses in big tech, artificial intelligence, and semiconductor stocks, compounded by rising oil prices. • This volatility highlights the market's sensitivity to energy costs and the current instability of high-growth tech sectors.

Shares in Elon Musk company fall more 3% in after-hours trading, as earnings per share miss Wall Street expectationsTesla reported its second-quarter earnings on Wednesday, disclosing far lower profits than expected. The company’s already beleaguered stock, which had fallen around 14% this year to date, dipped further following the earnings report.Elon Musk’s automaker, once the pinnacle of his tech empire, has taken a back seat to SpaceX. Musk’s rocket and AI company held the largest stock market debut in history last month, turning the richest man on earth into the world’s first trillionaire, though his net worth has since fallen from its peak. Continue reading...

• The Indian stock market declined on July 21, with the Sensex sliding 316 points and the Nifty 50 falling 65 points to close at 24,172. • The downturn was primarily driven by losses in the banking and IT sectors, pulling the benchmark gauges lower. • In contrast, Asian markets saw gains, with the MSCI Asia Pacific Index rising 1.5% fueled by chip giants Samsung Electronics and TSMC.

• South Korea's KOSPI index plummeted nearly 5% on Monday, sliding into a technical bear market. • The decline was driven by a sell-off in AI and semiconductor stocks, compounded by escalating tensions between the US and Iran that have impacted global oil prices. • Market instability was mirrored globally, with the Nasdaq sinking 1% to 26,003 despite strong earnings reports from Taiwan Semiconductor.

• Indian markets are facing downward pressure as crude oil prices rise and geopolitical tensions in West Asia continue to influence investor sentiment. • Traders are closely monitoring whether the Nifty index can maintain its position above the critical 24,000 mark during Tuesday's session. • Key corporate focus includes Q1 earnings from Sobha, Canara HSBC Life, and SML Mahindra, as well as Coca-Cola's reported plans to appoint bankers for its India bottler's IPO.

• Asian stock markets showed mixed results as investors reassessed their positions in artificial intelligence (AI) stocks. • Chinese semiconductor firms saw significant gains, with Semiconductor Manufacturing International Corp jumping over 4% and Hua Hong Semiconductor surging more than 6%. • Regional performance varied, with South Korean markets sliding while Australia's S&P/ASX 200 rose 0.2% and Singapore's Straits Times Index fell 0.1%.