BOK vows to tame inflation, KOSPI hits new high on chip rally, President Lee attends G7 to discuss economic imbalances, 18-month prison term sought for Seoul Mayor Oh, and PPP to file petitions over local election ballot shortages.
A potential US-Iran deal is causing oil prices to fall, benefiting airline stocks. The agreement could release Iranian funds, reopen the Strait of Hormuz, and allow free oil sales, easing jet fuel costs. However, the full impact on airline profits will take time to materialize.
Nvidia CEO Jensen Huang announced a new PC chip, the N1X, developed with Microsoft, potentially reinventing personal computers. This news spurred a rally in software and computer-related stocks, with ServiceNow, IBM, and Hewlett Packard seeing significant premarket gains, while rival Intel shares declined.
Memory stock gains, fueled by AI demand, are under scrutiny. Analysts warn of the industry's historical cyclicality and potential disruption from new AI technologies, despite current supply constraints.
Memory stock rally fueled by AI demand faces warnings of cyclicality and potential disruption from new technologies like Google's TurboQuant. Analysts caution investors against assuming the industry's boom-and-bust past is over, especially with South Korean markets heavily reliant on Samsung and SK Hynix.
NVIDIA CEO Jensen Huang's visit to Taiwan has reignited interest in AI-related stocks, boosting the Taiwan Stock Exchange. The index has gained nearly 46% year-to-date, ranking it fourth globally. Analysts suggest continued strength above 42,200 points could signal a new bullish phase.
South Korea's consumer sentiment index (CCSI) jumped 6.9 points to 106.1 in May, the fastest rise in a year, fueled by strong semiconductor exports and a stock market rally.
President Donald Trump signed an executive order on Saturday aimed at accelerating psychedelics research, directing agencies to expand clinical trials and Right to Try access for psilocybin, MDMA and ibogaine. The order leaves drug scheduling unchanged and comes amid stalled cannabis rescheduling efforts, raising questions about whether psychedelics will face similar federal delays. Psychedelic stocks rallied significantly following the announcement, with AtaiBeckley jumping roughly 25%.
Jim Cramer analyzes the market outlook as bond yields remain stable despite oil volatility and Middle East tensions. The 'Magnificent Seven' megacap tech stocks are resurging as the market recognizes their strong balance sheets and AI infrastructure spending is paying off. With the S&P Short Range Oscillator at positive 7.89% indicating an overbought market, Cramer suggests focusing on earnings rather than oil-related fears, while highlighting opportunities in AI agents, data center infrastructure, and energy buildout.
