Trump cancels Iran strikes subject to deal being made 'rapidly'
The US president claims Iran and other Middle Eastern countries asked Washington to hold off on any attack as the "perimeters" of a deal had been agreed.
BBC World
Daily Brief
EN → 한국어
Sunday, August 2, 2026
Today's Brief
Today’s Key Insight
Global markets enter a critical juncture as investors digest the prior session’s movements from July 31 alongside major geopolitical and domestic policy shifts over the weekend. South Korean President Lee is scheduled to convene an immediate, closed-door meeting on real estate and stock markets upon his return on August 3, highlighting policy urgency. Concurrently, US President Trump’s foreign policy maneuvers regarding Iran and Ukraine are set to reshape global risk parameters and energy market expectations.
Market Overview
Korea. In the latest available data from the July 31 session, South Korean equities recorded a substantial surge, with the KOSPI rising 17.91% to 6,595.45 and the KOSDAQ advancing 11.63% to 719.76. The Korean Won also strengthened in the prior session, with the USD/KRW rate falling 1.50% to 1,420.60, though domestic policymakers remain highly alert as evidenced by the upcoming presidential market review.
US. US equity benchmarks closed higher in the prior session on July 31, led by a 1.00% gain in the Nasdaq and a 0.70% rise in the S&P 500 to 7,489.72. Market volatility subsided as the VIX fell 6.44% to 15.99 on July 31, even as the US 10-year Treasury yield edged up 1.76% to close at 4.74%.
Cross-Market Signals
- Geopolitical Diplomacy and Energy Volatility: President Trump’s cancellation of strikes on Iran in anticipation of a rapid deal could alleviate supply fears, potentially capping gains for WTI crude oil, which stood at $84.67 in the prior session.
- Domestic Policy Vigilance and Currency Alignment: President Lee’s immediate post-tour briefing on domestic markets suggests potential regulatory or supportive measures, which may influence the USD/KRW rate after it closed at 1,420.60 on July 31.
- Divergent Risk Assets and Safe Havens: While US equities rose and the VIX fell on July 31, a 2.95% drop in Bitcoin and a marginal 0.17% rise in Gold suggest that underlying geopolitical anxieties, such as the ongoing conflict in Ukraine, keep safe-haven demand active.
Markets as of 2026-07-31 close 🟢 Risk-On
VIX -6.4% ↓↓ · USD/KRW -1.5% (달러 약세)
S&P Sectors
Tech -0.2%
Finance -0.1%
Health -0.6%
Energy +1.0%
Industrial +0.8%
Staples -0.5%
Utilities -0.7%
Real Estate -0.5%
Materials -2.3%
Comms +1.6%
Discretionary +3.3%
World
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Overnight Russian barrage kills nine in Kyiv, as air defense struggle with U.S. continues
Ballistic missiles tore into five districts of the Ukrainian capital before dawn Saturday. President Trump is now walking back a promised boost to Ukraine's missile defense systems.
NPR
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Is Turkey putting pressure on China in Africa’s infrastructure market?
Two years after Kenya’s deal with India’s Adani Group to modernise Jomo Kenyatta International Airport collapsed, the state-owned China Road and Bridge Corporation (CRBC) has won a US$1.2 billion contract to do just that. The same pattern played out when France’s Vinci lost a major highway deal in Kenya and CRBC took over as developer alongside another Chinese firm. Under the original 30-year concession, the national government would bear all the risk in the deal, raising public cost...
SCMP
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EVs and hybrids approach half of Australian new car sales amid ongoing fuel crisis
Australians bought EVs and hybrids at nearly same rate as petrol cars between April and June, Australian Automobile Association data showsGet ourbreaking news email,free appordaily news podcastAustralians are now buying electric and hybrid vehicles at the same rate as traditional petrol-powered cars, according to new data that shows EV sales doubled in the months after the peak of the fuel price spike.Fuel prices are againon track to top $2 a litre, after the federal government’s fuel excise reductions – introduced to offset the impact of the ongoing crisis in the Middle East – come to an end on Sunday.Continue reading...
The Guardian
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At least 57 people die as tens of thousands cross to Spanish enclave of Ceuta from Morocco
Pedro Sánchez decries ‘violation of territorial integrity’ as other EU countries criticise Madrid over incidentAt least 57 people have died trying to reach the Spanish enclave of Ceuta after as many as 50,000 migrants entered the tiny territory from Morocco in what Spain’s prime minister, Pedro Sánchez, called “a violation of Spain’s territorial integrity”.The huge influx, which took place over the course of just 24 hours, overwhelmed the city of 85,000 people, triggered a political crisis for Madrid and led to a mixed reaction from other EU countries, including calls for Spain to be suspended from the Schengen free-movement zone.Continue reading...
The Guardian
Korea
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President Lee to Review Real Estate and Stock Market Immediately After Tour... Private Meeting on the 3rd (Roundup)
(Seoul = Yonhap News) Reporters Ko Dong-wook and Seol Seung-eun = As soon as President Lee Jae-myung returns from his tour of the United States and South America on the 3rd, he will review economic issues such as real estate and the stock market...
연합뉴스
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[Exclusive] Tour Schedule Concludes... Real Estate and Stock Market Review Meeting Immediately After Return
President Lee is scheduled to arrive in Korea tomorrow after embarking on his return journey following a meeting with overseas Koreans. SBS has confirmed that he plans to preside over a review meeting on real estate policy and the stock market immediately upon his return. The meeting will include Prime Minister Han Seong-sook and...
SBS
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Lee: 'Refueling Was Needed, and Frankfurt Was Chosen... I Wanted to Meet You'
'I had to refuel somewhere on my way back from South America, and when I thought about which region I absolutely had to visit, Frankfurt seems to have been chosen.' President Lee Jae-myung said this at a luncheon meeting with overseas Koreans held in Frankfurt, Germany, his final tour destination, on the 2nd (local time), calling it 'a somewhat unusual meeting,' which drew laughter from the attendees. He continued, 'Whatever the opportunity, I wanted to meet many overseas Koreans. This gathering was made to share the situation of our homeland with you and to reflect your words as much as possible in South Korea's state affairs.' President Lee will embark on his return journey today after completing a 7-night, 11-day tour of five countries, including San Francisco in the U.S., three South American nations, and Germany. President Lee said, 'In particular, this year marks exactly 60 years since our senior nurses first set foot at Frankfurt Airport in 1966. That is why this gathering holds a special meaning.' He added, 'What the first generation of dispatched workers to Germany achieved in deep coal mines and by the side of sick patients was not just economic achievement.'
동아일보
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President Lee to Address Real Estate and Stock Market as Soon as He Returns... Calls Private Meeting
President Lee Jae-myung will arrive in Korea on the 3rd after wrapping up his 7-night, 11-day tour with his schedule in Germany. As soon as President Lee returns from his tour, he will hold a private meeting at the Blue House to address economic issues such as real estate and the stock market...
매일경제
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[Photo] LG Loses to Doosan 3-8
The match between LG and Doosan held at Jamsil Baseball Stadium in Seoul on the 2nd. LG players, who lost to Doosan 3 to 8, are leaving the stadium. Jamsil = Reporter Jeong Jae-geun cjg@sportschosun.com/2026.8.2/ ▲ Shocking death of famous anchor's mother immediately after kidnapping... Kidnapper's letter revealed: 'Buried in nature' ▲ Popular actor who complained of 'not feeling well' found dead at home... Age 43 ▲ Park Na
조선일보