Today’s Outlook :
• US MARKET : Wall Street closed higher on Friday, driven by the strong Nasdaq debut of SK Hynix, whose shares ended nearly 13% above the IPO price. The market also posted gains for the first full trading week of July, supported by a rebound in semiconductor stocks, while investors largely looked past the latest escalation in U.S.-Iran tensions. President Donald Trump reiterated that Iran wanted to continue negotiations, although he maintained that the ceasefire had ended.
The S&P 500 rose 0.4% to 7,573.79, the NASDAQ Composite gained 0.3% to 26,281.61, and the Dow Jones Industrial Average advanced 0.3% to 52,637.09.
SK Hynix raised USD26.5 billion through the largest U.S. IPO by a foreign company, pricing its ADSs at USD149 each. The stock opened at USD170 and closed 12.8% higher at USD168.01. Alongside Samsung Electronics and Micron Technology, SK Hynix is one of the leading producers of DRAM and HBM memory chips widely used in AI computing. Strong AI demand continues to support memory chip prices and demand.
In the Middle East, Oman and Pakistan called for de-escalation after the U.S. and Iran exchanged military strikes. In retaliation for attacks on three commercial oil tankers in the Strait of Hormuz, the U.S. military struck around 170 targets in Iran, including air defense systems, missile and drone storage facilities, and more than 60 IRGC vessels. Iran later responded by attacking U.S. military bases in the region.
Market attention now turns to next week’s U.S. inflation data, with the June CPI due on Tuesday and the June PPI on Wednesday. Analysts expect May inflation to have marked the peak after oil prices briefly surged due to the Iran conflict before easing in recent weeks.
Among notable movers, Meta Platforms jumped 6%, becoming the top performer on both the S&P 500 and Nasdaq. The gain was driven by the launch of a new AI model, a shift toward a paid developer strategy, and plans to begin producing its own AI chips in September while doubling computing capacity to 14 gigawatts next year.
• EUROPEAN MARKET : European stocks traded in a narrow range on Friday as optimism surrounding the blockbuster U.S. tech IPO faded, giving way to concerns over escalating U.S.-Iran military tensions. The conflict has disrupted global shipping routes and reignited inflation concerns.
The STOXX 600 closed flat after rebounding in the previous session on the back of an AI stock rally. Germany’s DAX slipped 0.1%, while France’s CAC 40 and the UK’s FTSE 100 each gained around 0.2%. Italy’s FTSE MIB rose 0.4%.
On a weekly basis, the STOXX 600 was on track for a decline of nearly 2%, marking its steepest weekly loss since mid-April as investors reassessed the impact of the Middle East conflict on the global economic outlook.
• ASIAN MARKET : Asian stock markets advanced on Friday, led by a rebound in semiconductor shares as investors refocused on the long-term AI investment theme despite ongoing U.S.-Iran tensions.
South Korea’s KOSPI surged 4.2%, recovering part of the previous session’s losses after officially entering bear market territory. Samsung Electronics rose 4.9%, while SK Hynix gained 1.5% after its USD26.5 billion U.S. IPO was more than seven times oversubscribed.
In Japan, the Nikkei 225 climbed 2% and the TOPIX gained 0.7%, supported by reports that the GPIF may increase its allocation to domestic equities. Murata Manufacturing rose 3.9%, while Kioxia Holdings surged 5.7%.
Investors are now awaiting several key economic releases next week, including China’s GDP and trade data, Singapore’s advance GDP estimate, India’s inflation data, and the Bank of Korea’s policy meeting.
Meanwhile, Hong Kong’s Hang Seng gained 1.8%, while China’s CSI 300 and Shanghai Composite rose 0.2% and 0.4%, respectively, supported by expectations of additional policy stimulus from Beijing.
• COMMODITIES :Oil prices jumped on Monday after Iran expanded attacks on Gulf states following U.S. strikes, raising concerns over disruptions to energy shipments through the Strait of Hormuz. As of 22:04 GMT, Brent crude rose USD2.67, or 3.51%, to USD78.68 per barrel, while West Texas Intermediate (WTI) gained USD2.48, or 3.47%, to USD73.89 per barrel.
• INDONESIA : The JCI edged up 0.2% on Friday to close at 5,924.36. The index’s movement suggests investors remain in a wait-and-see mode while awaiting fresh catalysts from both global and domestic markets, with trading activity expected to remain in a consolidation phase.
From a technical perspective, our view remains unchanged. The 6,000 level continues to be the key confirmation point for a return of bullish momentum. As long as the JCI remains below this level, the index is expected to trade sideways with the potential to retest the 5,300–5,400 support area if selling pressure intensifies. Conversely, a sustained breakout above 6,000 would reopen the path toward 6,100 and 6,240.
Download full report HERE.
