Today’s Outlook :
• US MARKET : Wall Street closed higher on Thursday, supported by the continued rebound in semiconductor stocks amid several positive developments across the technology sector. Meanwhile, oil prices eased after U.S. President Donald Trump said Iran had contacted Washington expressing its willingness to reach a deal following the latest U.S. strikes.
The S&P 500 rose 0.8% to 7,541.83, the NASDAQ Composite surged 1.3% to 26,206.89, while the Dow Jones Industrial Average gained 0.3% to 52,487.44.
After plunging nearly 14% over the previous four sessions, the Philadelphia Semiconductor Index rebounded more than 5% over the past two days. Semiconductor stocks led gains on the NASDAQ, with Arm, Sandisk, and Lam Research among the top performers. The rebound followed profit-taking since mid-June and concerns that the AIdriven rally had advanced too far, too quickly.
Technology sentiment was also supported by a Reuters report stating that Meta Platforms plans to begin production of its in-house AI chip in September and intends to double its computing capacity to 14 gigawatts next year.
In addition, investor enthusiasm increased ahead of SK Hynix’s U.S. IPO, which was reportedly oversubscribed by more than seven times. The company is expected to price the offering at USD149 per share, potentially raising more than USD26 billion.
Separately, Bloomberg reported that Starbucks is developing in-house AI software to replace applications currently supplied by external vendors such as Microsoft and IBM. Although the news initially weighed on software stocks in pre-market trading, the sector rebounded during the regular session, with the iShares Expanded Tech-Software Sector ETF rising 1.7%.
• EUROPEAN MARKET : European stocks mostly closed higher on Thursday after suffering their steepest one-day decline in nearly four months in the previous session. The recovery was driven by a rebound in global technology stocks, although markets remained cautious amid Middle East geopolitical tensions that had recently pushed oil prices higher and revived inflation concerns.
The STOXX 600 Index rose 0.8% after falling 1.6% a day earlier, marking its steepest daily decline since mid-March. Germany’s DAX gained 0.8%, France’s CAC 40 advanced 0.9%, Italy’s FTSE MIB climbed 1.1%, while the UK’s FTSE 100 slipped 0.2%. Semiconductor stocks led the gains alongside the recovery in global technology shares. Soitec jumped 5%, while ASML gained 4%.
• ASIAN MARKET : Most Asian stock markets closed higher on Thursday after mixed Chinese inflation data reinforced expectations for additional policy stimulus from Beijing. However, market sentiment remained tempered by renewed U.S. military strikes on Iran and lingering concerns over lofty valuations of artificial intelligence (AI)-related stocks.
In South Korea, Samsung Electronics fell 1.7% and LG Innotek declined more than 4%. In contrast, SK Hynix surged nearly 3% after demand for its planned USD28 billion U.S. share offering exceeded seven times the number of shares available. The KOSPI rose around 0.6% but remained in bear market territory after falling more than 20% from last month’s record high.
Japan outperformed regional peers, with the Nikkei 225 climbing nearly 1.9% and the TOPIX rising 0.2%, supported by renewed buying in semiconductor stocks. Murata Manufacturing jumped nearly 4%, TDK gained more than 2%, while Kioxia Holdings surged more than 7% after Bain Capital confirmed it had fully exited its investment.
In China, June inflation data strengthened expectations for additional stimulus to support domestic demand. The CSI 300 advanced around 1.8% and the Shanghai Composite gained nearly 0.9%. Meanwhile, Hong Kong’s Hang Seng Index fell around 0.8%, giving back part of its recent gains.
• COMMODITIES : Oil prices fell around 2% on Thursday as concerns that rising inflation and slowing economic growth could weigh on global oil demand outweighed ongoing supply constraints caused by the U.S.-Iran conflict, which has delayed the full reopening of the Strait of Hormuz. Before the conflict, around 20% of global oil supplies passed through the strategic waterway.
Brent crude futures declined USD1.72, or 2.2%, to USD76.30 per barrel, while West Texas Intermediate (WTI) crude futures fell USD1.44, or 2.0%, to USD72.08 per barrel. In the previous session, Brent had closed at its highest level since June 19, while WTI reached its highest levelsince June 22.
On the geopolitical front, Iran’s military launched attacks on U.S. military infrastructure in Gulf countries on Thursday in response to U.S. strikes on Iran’s southern coastal and eastern provinces, further straining the three-week-old ceasefire agreement.
• INDONESIA : The JCI closed 0.67% higher at 5,912.44 on Thursday. Over the medium term, the market is expected to remain range-bound, consolidating within the 5,300– 5,900 range while awaiting stronger catalysts.
From a technical perspective, the key resistance level remains unchanged. If the JCI fails to move back above 6,000, there is potential for another correction toward the 5,300– 5,400 support area. A breakout above 6,000 would open the way for further gains toward 6,100 and 6,240.
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