BUSINESS

South Korea's KOSPI index has plunged over 12% in two days, driven by AI spending concerns, SK Hynix's earnings miss, and intensified market volatility, triggering circuit breakers for the first time.

Mario Kart World is the top-selling Nintendo Switch 2 game, driving console sales to nearly 20 million units worldwide within a year of launch, according to Nintendo's latest sales figures.

Samsung introduces the Galaxy Z Fold 8 lineup with enticing pre-order offers, including free earbuds and significant trade-in credits, as it aims to strengthen its market position before Apple's foldable release.

Japan's Nikkei 225 index fell sharply due to a selloff in AI and semiconductor stocks, despite broader market stability. Geopolitical tensions and currency fluctuations added to investor concerns.

The FTSE 100 index nears record highs, driven by strong corporate earnings from companies like Standard Chartered, despite geopolitical tensions in the Middle East and rising oil prices.

Eagers Automotive's shares rose 5.27% following strategic international expansion and record growth. The company reported $13 billion in revenue and completed a major Canadian investment, boosting its global presence.

Lovisa Holdings' shares surged nearly 8% on the ASX 200, despite no new announcements, amid a volatile market environment and mixed analyst sentiment on its growth strategy.

South Korea's KOSPI index suffered a historic two-day decline, losing over 12.6% as investor concerns about AI spending sustainability led to a sell-off in major chipmaker stocks.

China's smartphone market contracts as rising memory chip prices favour premium brands like Apple and Huawei, reshaping competitive dynamics and squeezing out lower-cost competitors.

Australia's S&P/ASX 200 index climbed to a five-month high, driven by strong earnings from Rio Tinto and a global shift towards defensive stocks, amid regional tech market turbulence.

Samsung Electronics shares fell 13.4% amid fears of Chinese competition, marking their worst one-day drop in nearly two decades. The broader South Korean market also suffered significant losses.

Micron Technology shares fell nearly 10% amid a global memory chip selloff, driven by Chinese competition and cooling AI infrastructure spending, despite strong financial performance and bullish Wall Street ratings.

AbbVie shares reached a 52-week high as investors anticipate the company's second-quarter earnings report, focusing on its immunology portfolio and recent strategic acquisitions.

Johnson & Johnson's shares soared to a record high after agreeing to a $5.5 billion settlement to resolve 76,000 U.S. lawsuits alleging its talc products caused ovarian cancer, removing a major legal overhang.

PepsiCo shares rose 2.73% amid a market rally, despite recent earnings misses and analyst downgrades. International growth offset North American challenges, with a continued focus on dividend increases.

Coca-Cola's shares rose over 6% after surpassing Q2 expectations, driven by global volume growth and FIFA World Cup marketing, leading to an upward revision of its 2026 financial outlook.

McDonald's Corp. shares climbed Tuesday, rising 2.27% to $276.80, adding $6.15 as the fast-food giant benefited from a broader rally among traditional blue-chip stocks even as its own earnings report remains a week away.

Yelp's stock rises as the company expands AI services and strengthens partnerships, including a content licensing deal with OpenAI, enhancing its market position and revenue diversification.

Boeing's Q2 2026 results show revenue growth and positive cash flow, despite challenges with Air Force One charges. The company sees improved operational performance and maintains a strong order backlog.

Sanmina Corporation's shares fell 20.50% despite exceeding earnings expectations, as investor sentiment turned negative due to disappointing revenue guidance for the next quarter.

Verizon is offering up to $1,200 off Samsung's Galaxy Z Fold 8 and Ultra preorders with trade-in and eligible data plans, ahead of their official release.

Amkor Technology shares fell sharply despite reporting record earnings and revenue, as investors focused on a weaker-than-expected outlook and operational challenges in the communications segment.

Itron Inc.'s stock surged 22% after reporting second-quarter earnings that exceeded expectations, despite a revenue decline. The company updated its financial guidance, boosting investor confidence.

Kiniksa Pharmaceuticals' shares rose over 21% following strong Q2 results, surpassing expectations and raising its full-year sales outlook for ARCALYST, the only FDA-approved therapy for recurrent pericarditis.

The Dow Jones Industrial Average rose 0.69% due to strong blue-chip earnings, despite a global selloff in semiconductor and AI stocks impacting the Nasdaq. Oil price drops also supported the Dow's gains.

HYBE, the entertainment company behind BTS, reported record quarterly revenue and profit driven by concert and album sales, despite a significant drop in its stock due to broader market selloff.

Robinhood users reported access issues during a volatile trading session, highlighting the app's history of outages during high-demand periods. The company has faced legal scrutiny over similar past incidents.

Global chipmaker stocks have plummeted due to concerns over AI spending sustainability and rising competition from China, with major declines in South Korea, Japan, and Europe.

Microsoft introduces MAI-Cyber-1-Flash, an AI model designed to identify cybersecurity vulnerabilities, outperforming rivals at lower costs. Integrated into Project Perception, it marks a significant shift in Microsoft's security strategy.