Finance

South Korean semiconductor giant SK Hynix launched its U.S. listing on the Nasdaq, raising $26.5 billion in what became the largest ever share offering by a foreign company. The stock surged 13% during its first day of trading, reaching a market capitalization of over $1.2 trillion. The debut of this major Nvidia supplier pressured domestic competitors like Micron Technology as investors reassessed the memory chip landscape.

Financial markets remain sensitive to renewed hostilities between the U.S. and Iran, which have triggered fluctuations in oil prices and Treasury yields. While crude prices eased slightly on Friday to around $76 for Brent, the ongoing conflict has kept the 10-year Treasury yield elevated at approximately 4.56%. Analysts noted that while the Strategic Petroleum Reserve may cushion supply shocks, the threat of continued disruptions in the Strait of Hormuz remains a primary concern for global trade.

New economic data released for July 2026 revealed that existing home sales fell unexpectedly to 4.09 million units in June, missing analyst expectations. This decline is attributed to record-high median home prices and unfavorable affordability conditions shaped by current interest rate levels. Concurrently, a significant housing reform bill is set to become law, aiming to lower costs and limit institutional investment in single-family rental homes.