BUSINESS

South Korea's KOSPI index plunged 10.84% due to a massive selloff in semiconductor stocks, triggering emergency trading halts and raising concerns over China's growing chip industry.

Viva Energy's shares rose 8.61% after a first-half trading update exceeded expectations, driven by a surge in refining margins. The company also reduced net debt, enhancing financial flexibility.

Maritime traffic in the Strait of Hormuz shows early signs of recovery as a pause in US-Iran hostilities enters its second day, though regional risks persist.

DroneShield Ltd. shares fell 12.02% as easing Middle East tensions and governance concerns impacted the stock, despite strong business fundamentals and new contracts.

The ASX 200 index rose 0.45% to 8,933.8 points, driven by easing Middle East tensions, falling oil prices, and strong corporate earnings, despite pressure on energy stocks.

Dekáf Coffee Roasters elevates decaf coffee by using dedicated workflows and roast profiles, treating it with the same care as specialty coffee, and offering a range of caffeine levels.

Oil prices fell sharply as US-Iran tensions eased, raising hopes for diplomatic solutions. Despite the pause, shipping traffic through critical waterways remains limited, with analysts cautious about long-term stability.

Wix shares rose 9.64% amid restructuring and AI initiatives, following a challenging year marked by legal scrutiny and disappointing earnings. Investors await the upcoming earnings report for further insights.

China's CXMT has surged in the stock market, challenging Samsung and SK Hynix with aggressive pricing, rapid expansion, and government backing, posing a significant threat in the global memory chip market.

Shares of Chinese memory chipmaker CXMT Corp exploded on their Shanghai trading debut Monday, surging 465.82% to close at 49.00 yuan, instantly catapulting the company to the top of China's stock market by valuation and marking one of the most spectacular initial public offerings in recent financial history.

SK Hynix shares fell 8.69% following a major IPO by Chinese rival CXMT, sparking a sector-wide selloff. The decline comes ahead of SK Hynix's crucial earnings report, adding to market volatility.

American Express shares rose 2.41% after reporting strong Q2 results, with increased revenue and card member spending. The company plans to reinvest in growth, focusing on premium products and younger customers.

Mastercard shares rose 2.19% as investors anticipate strong second-quarter earnings, driven by bullish analyst forecasts and resilient consumer spending. Analysts expect continued growth and positive financial performance.

SAP shares rose 6.77% following strong quarterly earnings and a new stock buyback program, reversing recent lows and boosting investor confidence in the company's cloud and AI initiatives.

Oracle's shares rose 4.59% following major U.S. government contracts, despite recent declines and mixed analyst sentiment. The contracts provide a stable revenue stream amid cloud infrastructure expansion.

Microsoft shares rose 2.05% as investors anticipate a pivotal earnings report, focusing on AI investments and Copilot integration. The tech sector sees broader gains amid Big Tech earnings week.

Nvidia's shares fell sharply after reports of a $250 billion financial guarantee for OpenAI's data center project, raising investor concerns about circular financing and insider selling.

IonQ's stock surged over 10% amid a volatile quantum computing market, as investors anticipate the company's upcoming earnings report, highlighting strong revenue growth despite ongoing unprofitability.

Google will increase prices for its Pixel smartphones due to soaring memory costs driven by AI demand, affecting both upcoming and existing models. The company aims to mitigate impacts through software optimisations.

Micron Technology's stock rebounds from bear market territory, driven by strong AI demand and strategic moves in the automotive sector, despite recent volatility in the semiconductor market.

Rigetti Computing's stock surged over 12% following the announcement of a new collaboration to develop a hybrid quantum-classical supercomputing testbed, supported by a $5 million NSF grant.

Bitcoin sees modest gains amidst a prolonged bear market, influenced by geopolitical tensions and market dynamics. Analysts remain divided on its future, with key events ahead potentially shaping its trajectory.

Bitmine Immersion Technologies' stock rose 12% after revealing $11.8 billion in crypto holdings, driven by Ethereum. The company continues its share buyback program and focuses on Ethereum accumulation.

The Dow Jones Industrial Average rose as tensions in the Middle East eased and oil prices dropped, alleviating inflation concerns. Investors focus on upcoming corporate earnings and Federal Reserve decisions.

The Nasdaq Composite rose as U.S.-Iran tensions eased, leading to a drop in oil prices. Investors focus on upcoming earnings reports and Federal Reserve policy decisions amid market optimism.

SpaceX's journey from early rocket prototypes to the ambitious Starship missions highlights significant advancements in space technology, aiming to make life multiplanetary. Recent tests demonstrate progress towards operational status.

Palantir CEO Alex Karp predicts AI will significantly increase wealth disparity, benefiting a narrow elite while posing a threat to social cohesion. He criticises the AI industry's fear-mongering tactics.

Korean beauty products are becoming everyday staples in the US, with brands like Medicube leading sales and search rankings, expanding from online popularity to major retail presence.

Japan's top automakers, Toyota, Nissan, and Honda, are experiencing significant sales declines in China due to their slow transition to electric vehicles, while Chinese brands rapidly gain market share.