Today’s Outlook :
• US MARKET : Wall Street closed lower on Tuesday, pressured by a decline in technology stocks after Samsung Electronics posted disappointing results, weighing on sentiment toward the artificial intelligence (AI) sector. Market sentiment was also dampened by rising oil prices following reports that three tankers had been attacked within the past 24 hours around the Strait of Hormuz. Meanwhile, investors focused on the NATO summit, where U.S. President Donald Trump held a bilateral meeting with Turkish President Recep Tayyip Erdoğan.
The S&P 500 fell 0.5% to 7,501.05, the NASDAQ Composite declined 1.2% to 25,818.69, the Nasdaq 100 dropped 1.8%, while the Dow Jones Industrial Average slipped 0.3% to 52,924.56.
The AI rally had previously been the main driver behind Wall Street’s gains during the Middle East conflict. However, after the U.S. and Iran signed an interim peace agreement in mid-June and oil prices returned to pre-war levels, investors shifted their focus back to the technology sector. Profit-taking and concerns that the AI rally had advanced too far and too quickly began weighing on chip and memory stocks.
Tuesday’s attention centered on Samsung Electronics’ preliminary fiscal first-quarter results and second-quarter guidance. The company has been one of the biggest beneficiaries of the surge in AI investment by global technology companies such as Nvidia, which has driven demand for High Bandwidth Memory (HBM) and DRAM products. The AI boom also lifted Samsung’s market capitalization, making it one of South Korea’s two largest companies alongside SK Hynix.
The Philadelphia Semiconductor Index fell 4.7%, while the S&P 500 technology sector declined 1.6%. Chip and memory stocks including Intel, Western Digital, Marvell, and Sandisk were among the biggest drags on the Nasdaq.
On the corporate front, SpaceX officially joined the Nasdaq 100. However, on its first trading day in the index, SpaceX Class A shares fell nearly 7%. The rocket company’s stock also received several bullish analyst initiations from Bank of America, Citi, Deutsche Bank, and Goldman Sachs following the end of its quiet period.
• EUROPEAN MARKET : European equities closed lower on Tuesday as investors locked in profits following a strong rally over the past week and remained cautious ahead of the release of key global economic data and the latest Federal Reserve meeting minutes.
The STOXX 600 fell 0.7%, extending its pullback after reaching fresh record highs in recent sessions. Other major European indices also declined, with Germany’s DAX down 1.3%, France’s CAC 40 falling 0.5%, and Italy’s FTSE MIB losing 1%.
• ASIAN MARKET : Asian equities fell sharply on Tuesday after a heavy selloff in South Korea briefly triggered a market-wide circuit breaker. Investors dumped semiconductor stocks despite Samsung reporting record operating profit, amid concerns that future AI earnings growth may not justify the sector’s elevated valuations.
The KOSPI plunged as much as 8.1% before trimming losses to around 5.7%, after Samsung Electronics fell about 8%. SK Hynix also dropped around 9% after launching the marketing process for its planned U.S. listing. In Japan, the Nikkei 225 fell nearly 2% and the TOPIX declined 0.6%, while Foxconn slipped 2.1% despite reporting better-thanexpected revenue.
Chinese markets also weakened, with the CSI 300 falling 1.3%, the Shanghai Composite losing 1.6%, and Hong Kong’s Hang Seng declining 0.9%.
• COMMODITIES : Oil prices surged in early Wednesday trading after the U.S. military launched fresh strikes against Iran and reinstated sanctions on the country’s oil sector following attacks on vessels in the Strait of Hormuz.
WTI rose 2.9% to USD72.45 per barrel, while Brent had yet to begin trading after jumping 5.5% to USD75.94 per barrel in the previous session. U.S. Central Command (CENTCOM) said it had launched a series of strikes against Iran in response to attacks on commercial vessels. The renewed escalation and further disruption to shipping through the Strait of Hormuz reignited concerns over global oilsupply disruptions.
Meanwhile, the U.S. also revoked a previous authorization allowing Iran to sell oil internationally, a move that could tighten global oil supplies in the coming weeks. Iran was reportedly behind attacks on several vessels transiting the Strait of Hormuz, further escalating tensions with the U.S. and increasing uncertainty over the strategic shipping route.
• INDONESIA : The JCI closed 1.19% higher on Tuesday at 5,986.5. Current market conditions continue to indicate the potential for a sustained rebound, with the possibility of forming a cup and handle pattern despite relatively light trading volume.
From a technical perspective, the key resistance level remains unchanged. If the JCI fails to move back above 6,000, it could revisit support at 5,300–5,400. However, if it successfully breaks above 6,000, the next upside targets are 6,100 and 6,240.
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