Asia markets mostly lower ahead of big news related to Korean chip giants SEOUL, July 06 (AJP) — Asian equities opened the week cautiously Monday, with investors awaiting a string of major developments for South Korea's semiconductor sector, including Samsung Electronics' earnings guidance and SK hynix's landmark U.S. listing. As of 10:50 a.m., the benchmark KOSPI slipped 0.58 percent to 8,033.76, while the tech-heavy KOSDAQ tumbled 3.60 percent to 837.32. Retail investors were the market's only net buyers, purchasing 1 trillion won worth of KO July 6, 2026

Korea's FX market shifts to 24-hour system in bid to globalize won SEOUL, July 06 (AJP) -South Korea's foreign exchange market began operating on a near 24-hour basis Monday, a milestone reform aimed at making the won more accessible to global investors and strengthening the country's case for inclusion in developed-market indexes. Under the new framework, spot trading will run continuously from 6 a.m. Monday to 6 a.m. Saturday during U.S. daylight-saving time, with the opening and closing shifting to 7 a.m. during U.S. winter time. Deputy Prime Minis July 6, 2026

Canada to announce preferred bidder for 12 submarines Monday SEOUL, July 06 (AJP) -Canadian Prime Minister Mark Carney will make a major defense announcement in Halifax, home to the country's largest naval base, on Monday before departing for the NATO summit in Türkiye, with South Korea and Germany awaiting a decision on Canada's multibillion-dollar submarine procurement program. Canadian daily The Globe and Mail reported Sunday, citing two government sources, that Carney is expected to formally announce whether South Korea or Germany has em July 6, 2026

Young South Koreans sour on Lee's housing policy SEOUL, July 03 (AJP) — More than half of young South Koreans are disgruntled with the current administration's housing policy amid sky-high rent prices. A survey released Friday by polling firm Korea Gallup showed that 46 percent of respondents viewed the President Lee Jae Myung administration's housing policy negatively, compared with 26 percent who viewed it positively. Negative sentiment was strongest among younger adults, with 56 percent of people in their 30s and 51 percent July 3, 2026

KOSPI rebounds 5.8 percent on chip rally SEOUL, July 03 (AJP) - South Korean stocks staged their sharpest rebound of the year on Friday, as institutional buying and a fresh artificial intelligence catalyst for Samsung Electronics erased most of the previous session's rout in a single day. The benchmark KOSPI surged 5.8 percent to close at 8,088.3. The index added 440.3 points, recovering the bulk of Thursday's 7.9 percent plunge, as a report that Anthropic is in talks with Samsung Electronics to manufacture a custom AI chip r July 3, 2026

Korea's Lee to head to NATO summit as Seoul courts defense partners SEOUL, July 3 (AJP) -South Korean President Lee Jae Myung will travel to Türkiye and Mongolia next week for a five-day diplomatic swing aimed at expanding Seoul's security, defense industry and supply chain partnerships, the presidential office said Friday. Lee will attend the North Atlantic Treaty Organization (NATO) summit in Ankara from July 7 to 8 before making a state visit to Mongolia from July 9 to 11, National Security Adviser Wi Sung-lac said at a briefing at Cheong Wa Dae, So July 3, 2026

Samsung defies chip rout as KOSPI sinks SEOUL, July 03 (AJP) -The Seoul market extended losses as foreign selloff continued Friday. Chip stocks were mixed. Samsung Electronics rose 1.6 percent to 290,500 won (about 188 dollars), while SK hynix fell 1.1 percent to 2,163,000 won (about 1,398 dollars). The KOSPI 2.18 percent to 7,281.39. The overnight catalyst was a US chip rout, where the Philadelphia Semiconductor Index fell as much as 6 percent, its worst two-session stretch since early June, as investors questioned stretched AI July 3, 2026

AI panic sweeps Asia, hitting Seoul hardest SEOUL, July 02 (AJP) - South Korean stocks led Asia's selloff on Thursday as another wave of panic over artificial intelligence and semiconductor valuations rattled investors, dragging the benchmark KOSPI below the 8,000 mark and the junior KOSDAQ below 900. The benchmark KOSPI tumbled 7.89 percent to close at 7,648.09, its first finish below 8,000 in 15 trading sessions. The index opened down 4.46 percent at 7,933.10, briefly recovered above 8,100 during the session, but selling accelerate July 2, 2026

Hanwha cuts petrochemical prices amid Gulf cost pressures SEOUL, July 02 (AJP) - Hanwha Solutions said Thursday it will cut prices for major petrochemical products by up to 250,000 won ($161) per ton to ease cost pressures on plastics manufacturers after supply disruptions caused by the Iran war. The company will lower prices for products including polyethylene and polyvinyl chloride by between 100,000 won and 250,000 won per ton. Hanwha Solutions said the move is intended to share savings from government support for naphtha and other key petrochemic July 2, 2026

World Cup 26: England survive DR Congo scare, U.S. advance SEOUL, July 02 (AJP) - England survived a major scare to reach the last 16 of the 2026 FIFA World Cup, while co-host United States advanced despite a red-card setback that left a bitter aftertaste to an otherwise hard-fought win. Belgium also moved on, but only after a dramatic late comeback against Senegal that raised as many questions as it answered. England came from behind to beat DR Congo 2-1 at Atlanta Stadium in Atlanta, Georgia, on Wednesday, in a match that kicked off at noon local ti July 2, 2026