Swing

• Australia's trade balance shifted to a surplus in June, exceeding market forecasts due to a significant rebound in exports. • The growth was driven by increased iron ore shipments to China, Japan, and South Korea, as well as stronger coal exports to India, Japan, and China. • Solid gains in liquefied natural gas (LNG) exports further contributed to the rise in overall export earnings for the month.

• South Korean stocks experienced their sharpest daily loss in over four months on July 28, 2026, with the Kospi sinking 10.84% to close at 6,023.66. • The decline was driven by an Asia-wide sell-off in semiconductor shares, specifically impacting industry giants Samsung and SK Hynix. • This volatility marks a shift in regional market dynamics, as South Korean semiconductor trends are now driving wider swings in Japanese stocks, reversing the previous pattern.

• Retail investors in Asia are experiencing extreme financial volatility driven by an "AI frenzy" and the rise of single-stock leveraged ETFs. • In South Korea and Taiwan, traders are aggressively betting on memory chip stocks to capitalize on the global AI-driven semiconductor shortage. • Experts warn that governments may have underestimated the risk appetite of retail traders, who have previously shown a tendency to overwhelm hedge funds in US stocks and cryptocurrency.

• Asian stock markets surged on Wednesday, led by Japan’s Nikkei, which climbed 3.0%, and South Korea, which added 4.1%. • The rally was driven by strong corporate earnings and a renewed appetite for technology stocks following record highs on Wall Street. • Oil prices and bond yields declined amid hopes for progress regarding the reopening of the Strait of Hormuz.

• House Democratic leader Hakeem Jeffries launched the "Fighting for an Affordable America" agenda, marking the start of the 100-day countdown to the midterm elections. • The battle for House control is expected to be decided by just 20 key races, with Pennsylvania identified as a critical "swingy" state. • These elections serve as a referendum on the Trump administration's second term, specifically focusing on economic policies and military actions against Iran.

• The S&P 500 rose during early trading on Monday, rebounding after experiencing its first losing week in the last three. • Market stability is being driven by a recovery in chip companies and other stocks that have benefited from the artificial intelligence boom. • This shift indicates a return of investor confidence in high-growth AI sectors following a period of volatility.

Polls suggest many Democratic voters oppose the projects as party leaders champion AI investmentSarah Brabbs used to be a fan of Michigan’s Democratic governor, Gretchen Whitmer.“I have her book; I appreciated her stewardship and guidance during the pandemic,” Brabbs, who has voted Democrat for basically her entire life, says. “I will never not appreciate who she was during that time.” Continue reading...