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Thursday Jul 16 2026 03:53
1 min
Asian markets closed the week on a turbulent note. South Korea's Kospi slid as much as 7.3% on Thursday, with SK Hynix and Samsung Electronics leading losses just a day after a near-7% rebound — extreme swings that regulators now link to single-stock leveraged ETFs, with new measures expected soon. Selling pressure was amplified ahead of Friday's market holiday in Seoul.
The AI story itself, however, got fresh support from Europe: ASML beat expectations and raised its full-year outlook for the second time this year, citing strong AI-driven demand and order visibility stretching into 2027–28. Attention now turns to TSMC's results later today, a key test of whether chip sentiment can stabilize.
On the macro front, Fed Chair Warsh wrapped up his Senate testimony with a firmly hawkish tone despite June's softer-than-expected CPI, stressing that restoring price stability remains the priority. A July hike looks unlikely, but September remains in play.
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