PRE-MARKET TAIWAN & SINGAPORE STOCK NEWS: Nasdaq 100 futures eke slight gains after finishing marginally higher the prior day, while Asia also attempts to rebound
The slight gains in Nasdaq futures coupled with Asia's rebound signal a cautious optimism in markets following geopolitical tensions, particularly with increased Chinese activity around Taiwan.
New Zealand's Finance Minister says it is unwelcome to see global oil prices rising and expects that oil impacts pump prices domestically
US Energy Secretary Wright says we're going to continue to attack Iran and what we're doing now is ensuring the flow of oil, gas and other products through the Strait of Hormuz with or without Iran's cooperation
PRE-MARKET TAIWAN & SINGAPORE STOCK NEWS: Nasdaq 100 futures eke slight gains after finishing marginally higher the prior day, while Asia also attempts to rebound
Oracle (ORCL) may face a USD 7bln collateral bill for Wisconsin data centre, according to FT reports
Arab sources reported hearing the sound of several explosions in Sulaymaniyah in Iraq
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TAIWAN
Global Tek Fabrication (4566 TT) - Co. expects H2 revenue growth to exceed H1 levels, driven by volume shipments of key components for artificial intelligence liquid-cooling systems beginning in Q3. (Taipei Times)
TSMC (2330 TT) - Co. does not expect any impact on current operations from reports that Japan’s Central Glass could halt high-purity tungsten hexafluoride production, while Taiwanese prosecutors indicted a former employee over allegations of stealing chip trade secrets to sell to China. (Source on X; Nikkei)
Tech – Nasdaq 100 futures eke slight gains after finishing marginally higher the prior day, while Asia also attempts to rebound.
Geopolitical
Taiwan detected a sharp increase in Chinese Coast Guard and research vessel activity around the nation in June and plans drills simulating Chinese escalations off its Pacific coast. (Taipei Times)
SINGAPORE
Yeo Hiap Seng (THS SP) - Co. said CEO Ong Yuh Hwang is resigning for personal reasons. (Business Times)
This situation could heighten investor anxiety regarding supply chains or tech dependencies, especially for companies like TSMC. The overall sentiment suggests a watchful stance on geopolitical developments that might influence market stability and trade dynamics.
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