Following the rebound of U.S. stocks, South Korean stocks opened higher, with SK Hynix surging 18%.
According to Bitget market data, South Korea’s KOSPI index rose 11% at the open, SK Hynix surged 18%, and Samsung Electronics jumped 15%.
5 minutes ago
South Korean stocks extended their gains, with SK Hynix and Samsung both rising more than 20%.
According to Bitget's market data, South Korea's KOSPI index saw its early-session gain surge to 13%. Heavyweight stock SK Hynix's gain expanded to 24%, while Samsung Electronics' share price rose over 20%.
5 minutes ago
Apple's fiscal third quarter revenue beats expectations, with its shares falling more than 4% in after-hours trading.
Apple released its third-quarter financial results after U.S. stock market hours. The company’s revenue reached $109.4 billion, beating expectations and rising roughly 16% year-over-year. iPhone and Mac sales were strong, but its fourth-quarter revenue guidance came in below expectations due to memory shortages, while revenue from China and services also missed forecasts, leading to a post-market decline in its share price. This was Tim Cook’s final earnings release as Apple’s CEO, with John Ternus set to take over the role in September. However, the results failed to lift its share price. According to market data from BIT (bit.com), Apple’s shares closed down 1.4% in regular trading ahead of the earnings announcement, and extended losses to over 4% in after-hours trading following the release.
5 minutes ago
South Korea has been revealed to be making rare U.S. dollar sales, with traders suspecting that South Korea and Japan are jointly intervening in the foreign exchange market.
Market sources revealed that South Korea’s foreign exchange authorities carried out a rare dollar-selling intervention on Thursday, pushing the won to a nine-month high. South Korea’s move coincided with Japan’s intervention in the New York market the same day, where Tokyo bought yen and sold dollars, pulling the currency back from a 40-year low. The won rose 2% against the dollar on Thursday, hitting 1,418 won per dollar, its strongest level since October 20 last year. The won hit a 17-year low of 1,561.50 last month, has gained more than 8% this month, and is on track for its largest monthly increase since March 2009. A foreign exchange official at South Korea’s Ministry of Finance declined to confirm the intervention. A South Korean FX trader said markets suspect coordinated intervention between Seoul and Tokyo, as the two countries had previously pledged close coordination on foreign exchange matters. On July 2, South Korea’s Vice Minister of Finance told a press conference that Seoul was maintaining close communication with Japan and other major allies on FX issues. Japan’s top foreign exchange official followed up on July 7, stating Tokyo was in close contact with Seoul’s FX officials, noting that the two countries’ financial markets sometimes exhibit similar volatility trends.
5 minutes ago
Microsoft's market capitalization surges by $450 billion in a single day, setting an all-time record.
According to market data from BIT (bit.com), Microsoft’s U.S. stock closed up 15.5% on Thursday, marking the company’s fourth-largest single-day gain in history and the largest single-day market cap increase for any U.S. individual stock on record. Investors welcomed the tech giant’s strong earnings report, which bucked the recent broad downturn in AI-related stocks. The stock’s year-to-date decline narrowed to 5.8% from roughly 19.3% at Wednesday’s close. Data shows the rally added $450 billion to Microsoft’s market cap, surpassing Nvidia’s $440 billion single-day gain set on April 9, 2025, to become the largest single-day market cap increase for a U.S. individual stock in history.
5 minutes ago
Trump announces Hamas has agreed to full disarmament, and Israel will withdraw its troops.
US President Trump announced on social media that the Peace Committee has reached a historic agreement to fully disarm Hamas and all armed groups in Gaza. The agreement is a key step toward Gaza eventually being governed by a new Palestinian government, which will work closely with the Peace Committee to assist the Palestinian people. Meanwhile, Israel will receive its deserved security guarantees, and Gaza will no longer be used as a base for "terrorist attacks". This is a major milestone in the implementation of Trump's 20-point plan. The agreement will advance in carefully designed phases. Once the disarmament is completed, Israeli forces will withdraw, and an international stabilization force will cooperate with the new Palestinian police force to ensure Gaza's safety for its residents and neighboring countries. Trump said: "We have made historic progress, but there is still much work to be done."
5 minutes ago