Global markets are experiencing a holiday-induced lull with US exchanges closed for Independence Day, leaving investors to digest shifting geopolitical dynamics and domestic liquidity trends. In South Korea, a stark divergence is emerging between recent equity market exuberance and retail investor behavior, as high borrowing costs drive a flight to the safety of bank deposits.
Korea. In the latest available session from July 3, the KOSPI registered a massive 5.76% surge, while the Won strengthened 0.62% against the dollar. Despite this equity rally, domestic sentiment appears increasingly defensive; reports indicate a significant rotation of capital out of the stock market and into bank deposits as local mortgage rates threaten to breach the 8% threshold.
US. US markets are closed in observance of Independence Day, with prior-session data from July 2 reflecting a mixed performance where the Dow advanced 1.14% while the Nasdaq retreated 0.80%. In the absence of fresh Wall Street trading, broader risk sentiment remains anchored by a slight uptick in gold and a softer dollar, as markets monitor ongoing conflict in Ukraine and extreme weather threats in the US Pacific territories.
🏛️ NYSE closed today — Independence Day (Observed)
Ukrainian President Volodymyr Zelensky said on Sunday that fighting was continuing for the eastern town of Kostyantynivka, rejecting Moscow's claim that Russian forces had captured the strategic settlement. Zelensky also warned Russia was preparing a new wave of large-scale attacks ahead of this week's NATO summit in Turkey, where he is expected to meet US President Donald Trump.
France 24
Wu Xinbo is the dean of the Institute of International Studies at Fudan University in Shanghai and a leading Chinese researcher on the US. In this interview, he analyses how shifts in US foreign policy are changing the relationship between the two countries. This interview first appeared in SCMP Plus. For other interviews in the Open Questions series, click here. As the United States celebrates its 250th anniversary, how do you assess US foreign policy and the future direction of its relations...
SCMP
People in Guam and the Northern Marianas moved to emergency evacuation centres and made last-minute preparations on Sunday, hours before a “super typhoon” was projected to bulldoze through the US Pacific territories. Super Typhoon Bavi was forecast to roar westwards over the area at around 10.00am (0000 GMT) on Monday with winds of 260 kilometres (160 miles) per hour – equivalent to a category 5 hurricane – and gusts of up to 315kph. The National Weather Service (NWS) called the typhoon “very...
SCMP
France's far-right chief Marine Le Pen faces a key ruling next week that will determine if she can run in the 2027 presidential elections, in what is seen as her best chance at the top job. A lower court handed the 57-year-old politician a five-year ban from public office last year and a two-year sentence over a fake jobs scam at the European Parliament, dashing her ambition to head the EU state. FRANCE 24's Philip Turle brings you this analysis.
France 24
Arcare says it is unable to comment on the federal court case in which it is alleged it illegally charged feesFollow our Australia news live blog for latest updatesGet ourbreaking news email,free appordaily news podcastResidents at one of Australia’s largestaged careproviders have launched a class action lawsuit alleging fees for services such as high teas and exercise classes were illegally charged to clients who cannot use them due to immobility and other issues.The suit, filed in the federal court, alleges residents of more than 50 Arcare aged care facilities across four states were charged a daily “additional services fee” by Arcare embedded within a “signature package” between July 2020 and July 2026. This includes fees paid by residents who are immobile, unable to swallow, or cognitively impaired.Continue reading...
The Guardian
As the entire country enters the monsoon season, heavy rain of 20-30mm per hour is expected in various regions on the 6th. According to the Korea Meteorological Administration, the country will be generally cloudy today, with rain primarily in the Seoul Metropolitan Area, Chungcheong, Honam, and Yeongnam inland regions. Expected rainfall amounts are: Seoul/Incheon/Gyeonggi, Five West Sea Islands 20-60mm; Gangwon inland/mountainous areas 20-60mm; Gangwon East Coast 5-20mm; Daejeon/Sejong/Chungnam, Chungbuk 20-60mm; Jeonbuk, Gwangju/Jeonnam 30-80mm; Daegu/Gyeongbuk, Gyeongnam inland 5-50mm; Jeju 5-40mm. In particular, heavy rain of 20-30mm per hour is expected from today until the 8th, so caution is advised for flooding, property damage, and other safety incidents. However, the rain is not expected to cool down the heat. Temperatures nationwide will be similar to or slightly higher than average (minimum 19-22 degrees, maximum 25-29 degrees). The daytime high temperature today is forecast to be 26-32 degrees Celsius. Daytime high temperatures are expected to exceed 30 degrees Celsius, especially in inland areas, with southern inland regions experiencing a maximum sensible temperature of over 32 degrees Celsius, and other areas...
동아일보
As loan interest rates rise sharply, borrowers' concerns are deepening. Furthermore, as loan rates have increased... According to the Bank of Korea, bank deposits in May increased by 48.8 trillion won compared to the previous month, which is more than May of last year (20.2 trillion won)...
뉴시스
(Seoul = Yonhap News) Reporter Lee Tae-soo = Group ATEEZ has topped the U.S. Billboard Album Chart with their fourteenth mini-album 'GOLDEN HOUR : Part.5'...
연합뉴스
[OSEN = Reporter Lee In-hwan] Real Madrid's right flank is changing again. Denzel Dumfries has left Inter Milan to join Real Madrid. The transfer announcement came after the Netherlands national team's World Cup schedule concluded. Real made defensive reinforcement its first priority for the summer, signing a 30-year-old defender with a strong physique and direct attacking prowess for the right-back position. Real Madrid announced Dumfries' signing on the 5th (Korea time).
조선일보
Analysis of deposit balances at 5 major banks: As the stock market fluctuates, a preference for safety emerges, leading to increased bank deposits after profit-taking. Demand deposits increased by 48 trillion won this year, and time deposits also rose due to high interest rates. In the first half of this year, the total deposits of major domestic commercial banks...
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