Escalating geopolitical conflict in the Middle East and rising energy costs are beginning to weigh heavily on global risk sentiment, ending a period of relative market indifference. Concurrently, intensifying US protectionism—highlighted by a newly announced 12.5% tariff on South Korean goods—threatens to disrupt global supply chains and export-reliant economies.
Korea. In the prior session on July 23, South Korean equities rallied with the KOSPI up 4.40% and KOSDAQ up 5.22%, while the USD/KRW eased slightly to 1,474.11. However, domestic sentiment faces headwinds from a newly reported 12.5% US tariff on South Korean exports and ongoing domestic debates over real estate holding tax reforms.
US. US equity markets retreated in the July 23 session, led by a 2.15% drop in the Nasdaq and a 1.21% decline in the S&P 500, as the VIX volatility index surged 12.38%. This sell-off coincided with a 6.24% spike in WTI crude to $92.25, suggesting that investors are increasingly concerned about the inflationary impact of the US-Iran conflict on energy and manufacturing costs.
Iranian strikes targeted Kuwait’s desalination and power plants for the fourth consecutive day on Monday. The attacks are putting unprecedented pressure on a Gulf country heavily dependant on desalination for its water supply. Iran is attempting to wage a “psychological war” on a country with few options for striking back, according to some analysts.
France 24
At Zion Foodtrucks in the US state of Colorado, American-made steel and aluminium are combined with globally sourced stoves, refrigerators, vents and titanium piping to transform everyday vehicles into mobile restaurants. But instead of benefiting from Donald Trump’s push to revive US manufacturing, the company says it has been squeezed by higher costs and tougher competition. Since taking office, the US president’s import taxes on steel and aluminium have hit 50 per cent tied to his “beautiful”...
SCMP
After staying flat as the U.S.-Iran war heated up again, equities tumbled on Thursday after oil prices crossed $100 per barrel.
CNBC
Mid-July should have been a moment of quiet satisfaction in Beijing. Fresh data showed China’s favourability surpassing that of the United States in 25 of 37 nations surveyed by Pew Research Centre, including key European countries. Domestically, the second-quarter gross domestic product growth of 4.3 per cent, while softer than the first financial quarter, kept the annual target within reach. The logic was simple: with the US distracted by Donald Trump’s erratic trade wars and isolationist...
SCMP
This live blog is now closed.Sign up for US Breaking News emailUS gas prices have continued to rise since the conflict with Iran resumed this month.According to the American Automobile Association (AAA), a gallon of fuel is now just over $4–almost a dollar more than a year ago.It comes asBrent Crude, the international oil benchmark,is now up by almost 2% to $90.92 a barrel.Continue reading...
The Guardian
The Prime Minister's Office announced today (the 23rd) that the 'Real Estate Policy National Public Debate' will be held on the afternoon of the 27th at the Korea Chamber of Commerce and Industry in Jung‑gu, Seoul, chaired by Prime Minister Han Seong‑suk. The event is an extension of the presidential‑hosted 'Real Estate Policy National Public Debate' held that day...
JTBC
President Lee Jae‑myung targeted the so‑called 'Smart One‑Unit' phenomenon head‑on at the 'Real Estate Policy National Public Debate' held on the 23rd at the KBS annex in Yeouido, Seoul. The practice of concentrating assets in a single high‑price apartment to evade multi‑homeowner regulations has instead...
한국경제
The president said at the Real Estate Policy National Public Debate hosted at the KBS annex in Yeouido, Seoul, that when a participant remarked “the goal of real‑estate policy must be set first,” he replied, “Policymakers may have different views, but I’ll state my own opinion.”
연합뉴스
President Lee Jae‑myung said on the 23rd that “I generally agree that the property‑holding tax should be strengthened,” adding that “the key is determining the scope, degree, and differentiation of the increase.” He clarified that the tax will be differentiated by imposing higher rates on ultra‑high‑price, non‑resident and multiple‑home properties alongside the overall increase. At the Real Estate Policy National Public Debate held at the KBS annex, he stated regarding the holding tax, “Even if we aim for a level comparable to typical advanced countries, we would need to raise it threefold. But raising it threefold could trigger a situation akin to a riot,” and noted, “This should have been done in the past, but house prices have already risen too much.” He continued, “The housing‑price problem will eventually burst, and when it does it will be catastrophic. Even if it costs me political damage, I think we must prepare for it.” He added, “Based on a standard of one primary residence, we will set an appropriate basic holding burden and provide relief for owner‑occupied homes, housing for low‑ and middle‑income families, and regional factors, while conversely imposing higher rates on luxury and ultra‑high‑price properties…
동아일보
[Breaking] The United States has imposed new tariffs on 60 countries and economic zones, with a total of 12.5% on Korean‑origin goods. (Article) International – United States & Latin America. [Breaking] The United States has imposed new tariffs on 60 countries and economic zones, with a total of 12.5% on Korean‑origin goods. By reporter Kim Won‑chul, updated 2026‑07‑24 07:17. Expand 0:00 Your browser does not support the audio element.
한겨레