Finance

Semiconductor giant SK Hynix saw its shares soar 13% above their offering price during its high-profile U.S. listing on the Nasdaq. The company raised over $26 billion in one of the year's largest equity offerings, fueling optimism for the memory-chip sector. This successful debut is viewed by analysts as a confirmation that the capital required for massive AI infrastructure buildouts remains readily available.

The second-quarter earnings season is set to begin in earnest next Tuesday, with five of the 'Big Six' U.S. banks scheduled to report results. Analysts are closely watching Citigroup, which has seen strong returns this year but still faces pressure to meet performance targets. Market sentiment leading into these reports is cautious, as institutional buying pressure has shown signs of slipping according to recent money flow data.

U.S. Treasury yields have been fluctuating as investors weigh the impact of renewed hostilities between the U.S. and Iran. While the 10-year note yield settled near 4.56%, recent spikes in crude oil prices have reignited fears that persistent inflation could force the Federal Reserve to maintain higher interest rates. Economists have recently raised their 2026 inflation forecasts to 3.4%, reflecting these ongoing energy and supply chain pressures.