Author: Staff Writer

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Corporate

South Korea’s Kospi slumps by 8%

South Korea’s stock market saw another rough session as a sharp selloff in artificial intelligence and semiconductor shares dragged the benchmark Kospi index down by more than 8%, briefly forcing a trading halt. The steep fall showed how nervous investors have become about whether the recent rally in AI-linked stocks had gone too far and whether future profits can justify such high valuations.

The biggest pressure came from technology heavyweights Samsung Electronics and SK Hynix, which together make up more than half of the Kospi’s total market value. Shares of both companies fell by around 9% during trading, prompting the Korea Exchange to activate a 20-minute circuit breaker to cool the market. The index later recovered some ground, but the mood among investors remained cautious.

The latest drop is part of a wider global technology selloff. Investors have grown more careful after signs that the cost of building and running advanced AI systems is rising quickly. Higher semiconductor prices, heavy spending on AI infrastructure and doubts over whether demand will keep pace have led many traders to book profits after months of strong gains.

The weakness was not limited to South Korea. Japan’s Nikkei index also fell sharply as technology shares came under pressure. Companies closely tied to the AI boom, including major chipmakers and tech investors, recorded notable losses. That showed how concerns about the AI sector are spreading across Asian markets.

For investors, the latest swings are a reminder that fast-growing technology sectors can also see fast changes in sentiment. As companies prepare to report earnings and update markets on AI investments, volatility is likely to stay high, with each new development shaping confidence across the global tech sector.

Market analysts say the correction does not necessarily mean the AI story is over. Instead, they believe investors are rechecking valuations after a powerful rally that had made South Korea one of the world’s best-performing markets earlier this year.

Also Read: OpenAI taps Prabhjeet Singh to lead India expansion

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1 Minute-Read

US judge delays Adani case dismissal

A US federal judge has refused to immediately drop the criminal case against Gautam Adani and others, asking the Justice Department to explain its decision in more detail.

Judge Nicholas Garaufis said the DOJ’s request was too brief and did not give enough reason for dismissal. Prosecutors must file a fuller response by July 13.

The case, filed in 2024, accuses Adani, his nephew Sagar Adani and others of fraud and bribery linked to solar contracts in India. Adani Group has denied all charges. For now, the case remains open and unresolved.

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Technology

YouTube Shorts adds cleaner viewing tools

YouTube has announced a series of updates to its Shorts platform, introducing new features that make watching short videos faster, simpler and less distracting. The changes are rolling out gradually and are based on user feedback gathered over the five years since YouTube Shorts was launched. The company says the goal is to create a cleaner and more intuitive viewing experience while giving users greater control over how they watch content.

One of the biggest additions is Clear Screen mode. With a simple tap, viewers can temporarily hide all on-screen buttons, captions and other interface elements, allowing the video to fill the screen without distractions. This feature is especially useful for users who want to focus entirely on the content, similar to experiences already offered by some competing short-video platforms.

YouTube has also introduced 2x playback speed for Shorts. Users can now press and hold either edge of the screen to watch videos at double speed, making it easier to quickly browse content or replay favourite moments. In addition, a new mute option lets viewers silence videos with a single tap, offering more flexibility while watching in different environments.

The update also changes how users provide feedback on Shorts. The traditional Dislike button is being removed from the player. Instead, YouTube is encouraging viewers to use options such as “Not Interested” and “Don’t recommend this channel” to personalise their recommendations. According to the company, these tools provide clearer signals to its recommendation system and help deliver more relevant content.

To help users manage their viewing habits, YouTube is also introducing a sleep timer for Shorts in selected regions. This feature allows users to set a timer that automatically stops playback after a chosen period, making it easier to avoid endless scrolling, particularly late at night.

The latest update reflects YouTube’s continued effort to improve the Shorts experience as competition in the short-video market intensifies.

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Beyond

RBI simplifies government securities trading

The Reserve Bank of India (RBI) has proposed a new set of draft rules to simplify the way government securities are traded, a move that could make investing in government bonds easier for retail investors while bringing greater clarity to the market.

The draft framework consolidates regulations for outright purchases, ‘when-issued’ trading and short-selling of government securities into a single set of directions. At present, these activities are governed by separate rules, making the regulatory framework more complex for market participants.

According to the RBI, the proposal aims to create a simpler and more consistent regulatory structure without changing the basic principles governing government bond trading. The central bank has invited comments from stakeholders before finalising the new rules.

One of the biggest takeaways is the potential benefit for retail investors. A more streamlined framework is expected to make it easier for individuals to understand and participate in the government bond market, which has traditionally been dominated by banks, insurance companies and other institutional investors.

The draft also seeks to improve transparency and liquidity by providing a uniform set of operational guidelines for different types of government securities transactions. Market experts believe this could encourage wider participation and support the development of India’s bond market.

Government securities are considered among the safest investment options because they are backed by the sovereign. They are commonly used by investors looking for stable returns with relatively low risk. Easier access and clearer regulations could make these instruments more attractive to individual investors seeking to diversify their portfolios.

The RBI said the proposed directions are part of its broader efforts to modernise financial markets and align regulations with evolving market practices. A simpler rulebook is also expected to reduce compliance challenges for market participants while improving operational efficiency.

Also Read: Apple hikes MacBook, iPad prices

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Corporate

Anthropic claims Alibaba targeted Claude in AI data raid

Artificial intelligence company Anthropic has accused Chinese tech giant Alibaba of using thousands of fake accounts to copy the capabilities of its AI chatbot, Claude.

The company claims nearly 25,000 fraudulent accounts generated around 28.8 million interactions with Claude between April and June in an alleged attempt to train Alibaba’s Qwen AI models without permission.

Anthropic described it as the largest known AI “distillation” campaign and has urged US lawmakers to introduce stronger safeguards against unauthorised AI model extraction. Alibaba has not responded publicly to the allegations. The dispute highlights growing competition in the global AI industry.

 

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Corporate

IBM develops world’s first sub-1 nanometer AI chip

IBM has unveiled what it calls the world’s first sub-1 nanometer chip technology, marking a major breakthrough in semiconductor research that could power the next generation of artificial intelligence (AI), cloud computing and advanced electronic devices.

The new chip is built using a 0.7-nanometer (7-angstrom) transistor architecture called Nanostack, allowing engineers to pack nearly 100 billion transistors onto a chip roughly the size of a fingernail. According to IBM, this is nearly twice the transistor density of its 2-nanometer chip introduced in 2021.

IBM said the new design can deliver up to 50 per cent better performance or 70 per cent higher energy efficiency than its earlier 2-nanometer technology. The company believes the breakthrough will help meet the growing computing demands of AI systems while reducing power consumption in data centres and high-performance computers.

A key innovation behind the chip is IBM’s new Nanostack architecture, which stacks transistors vertically instead of relying only on shrinking them horizontally. This approach enables more computing power to be packed into a smaller space, helping overcome the physical limits that have slowed traditional chip miniaturisation in recent years.

The technology is still at the research stage and is not yet ready for commercial production. IBM expects it could take around five years before the chip reaches large-scale manufacturing through industry partners. The company no longer manufactures chips itself but licenses its technology to semiconductor firms.

While consumers are unlikely to see products using the new technology anytime soon, IBM’s announcement highlights how chipmakers are continuing to push the boundaries of semiconductor design. If successfully commercialised, the sub-1 nanometer technology could help power faster smartphones, more capable AI systems, energy-efficient data centres and the next generation of computing devices.

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Leaders

Amazon CEO meets PM Modi, commits $48 bn

Amazon has announced a massive $48 billion investment plan for India through 2030, reaffirming its long-term commitment to one of its fastest-growing markets. The announcement was made by Amazon CEO Andy Jassy after meeting Prime Minister Narendra Modi in New Delhi.

The new commitment includes an additional $13 billion for expanding artificial intelligence (AI) and cloud infrastructure, taking Amazon’s planned investment in India between 2026 and 2030 to $48 billion. The latest funding builds on the $35 billion investment plan the company announced last year. Overall, Amazon’s cumulative investments in India from 2010 to 2030 are expected to cross $88 billion.

A significant portion of the fresh investment will be used to strengthen Amazon Web Services (AWS) by expanding data centre capacity in Mumbai and Hyderabad. The company said the move will help startups, businesses and government organisations access advanced AI tools, cloud technologies and computing infrastructure to accelerate innovation.

Amazon is also stepping up its e-commerce and logistics network. This year, it plans to open more than 20 new fulfilment centres and over 100 delivery stations, with a stronger focus on improving services in smaller cities and expanding faster delivery options. The company is simultaneously scaling up its quick-commerce business as demand for rapid deliveries continues to grow across urban India.

Speaking about India’s growth story, Jassy said Amazon’s priorities closely align with the country’s focus on AI adoption, digital transformation, job creation and support for small businesses. He described India as an increasingly important global hub for cloud computing and AI, citing strong demand for digital infrastructure.

Amazon said its long-term plans also include supporting 3.8 million jobs, enabling $80 billion in cumulative exports, helping millions of small businesses adopt AI technologies and expanding digital skills initiatives.

Also Read: Gold slides to ₹1,41,320, silver down to ₹2,34,900

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Beyond

Gold slides to ₹1,41,320, silver down to ₹2,34,900

Gold prices edged lower on Friday, extending their recent decline, while silver also weakened as subdued global bullion trends continued to weigh on the precious metals market.

According to the latest market rates, 24-carat gold slipped ₹10 to ₹1,41,320 per 10 grams, while 22-carat gold eased to ₹1,29,540 per 10 grams. Silver also witnessed a marginal decline, falling ₹100 to ₹2,34,900 per kilogram.

Although the day’s correction was modest, the broader trend remains weak. Gold has been under pressure over the past few weeks as investors reassess the need for safe-haven assets amid improving global risk sentiment. Expectations of higher interest rates, firm bond yields and a stronger US dollar have also reduced the appeal of non-yielding assets like gold.

International bullion prices have also softened, with spot gold briefly slipping below the psychologically important $4,000-an-ounce mark before recovering slightly. Analysts say the metal could remain volatile in the near term as markets closely watch signals from the US Federal Reserve and upcoming economic data for clues on the interest-rate outlook.

Silver, which is influenced by both investment demand and industrial consumption, has also remained under pressure. Analysts believe its sharper swings compared to gold reflect concerns over global economic growth as well as reduced appetite for riskier commodities.

For jewellery buyers, the continued softness in prices may provide a better opportunity to make purchases after months of elevated rates. However, market experts advise consumers and investors to avoid making decisions based solely on short-term price movements, as precious metals are likely to remain sensitive to global economic developments and central bank policy decisions.

With uncertainty over the global interest-rate trajectory still lingering, bullion prices are expected to remain volatile, making international cues the key factor to watch in the coming weeks.

Also Read: Elon Musk loses trillionaire status after market rout

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Corporate

Sensex up by 100 points, Nifty closes above 24,050

Markets ended Thursday on a firm note, with the BSE Sensex closing 109 points higher and the NSE Nifty finishing above the 24,050 mark as investors continued to buy into heavyweight stocks.

The benchmark indices moved higher through the session, supported by gains in banking, financial and information technology shares. The broader mood on Dalal Street remained positive as traders reacted to supportive global cues and easing concerns over recent geopolitical tensions.

Market participants said sentiment improved after signs of stability in overseas markets and steady foreign investor interest. Positive trends across Asian markets also helped lift confidence, while strong buying in blue-chip names such as HDFC Bank, ICICI Bank, Infosys and TCS kept the indices in the green. Among the top gainers, banking and IT counters led the charge, while select FMCG and auto stocks, including Hindustan Unilever, ITC and Maruti Suzuki, were among the laggards.

Banking stocks were among the biggest contributors to the rally, with investors betting on healthy credit growth and a steady domestic economy. Financial and IT shares also saw sustained demand, helping the market hold on to gains despite some intraday volatility. On the other hand, profit-booking in a few consumer and automobile names kept the upside in check.

Even so, experts cautioned that global growth worries and trade-related uncertainties have not gone away. They said markets may remain volatile in the near term, but the broader trend still looks constructive as long as economic indicators stay supportive.

For investors, Thursday’s close offered another sign of resilience in Indian equities after a period of uneven trading earlier this year. Many are now watching whether the benchmark indices can build on this momentum and move closer to fresh highs in the coming weeks.

The rupee traded in a stable range, while crude oil prices and global bond yields remained on traders’ radar. Attention now shifts to upcoming economic data and corporate earnings, which are likely to guide market direction in the days ahead.

Also Read: Vishal Sikka launches AI firm Hang Ten, secures $32 mn

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Technology

Google relaxes Play Store billing

Google is set to roll out one of the biggest changes to its Play Store business model in recent years, giving developers more freedom to choose how payments are processed on Android apps.

The company has expanded its Play Billing Choice programme, allowing eligible app developers to offer alternative payment systems alongside Google’s own billing service. The updated policy takes effect next week and is expected to reduce the fees developers pay for transactions made through external payment providers.

For years, developers have argued that mandatory use of Google’s billing system increased costs and restricted competition. The latest changes are designed to address some of those concerns while still keeping Google Play Billing available as an option for users.

Under the revised programme, developers using alternative payment systems will receive fee reductions compared to standard Play Store commissions. Google says the lower fees reflect the fact that some payment-related services will be handled by third-party providers instead of the company itself.

The policy shift comes amid increasing scrutiny from regulators worldwide. Governments and competition watchdogs have pushed major app store operators to provide more choice and reduce barriers for developers. In response, both Google and other technology giants have gradually adjusted their marketplace rules.

Developers are expected to benefit from greater flexibility and potentially higher earnings. Companies offering subscription services, streaming platforms and digital content could see lower operating costs, allowing them to invest more in product development and customer acquisition.

Google has stressed that security, transparency and consumer protection will remain central to the Play Store experience. Users will continue to see clear payment information regardless of which billing option they choose.

As the new rules come into effect, developers will be watching closely to assess whether lower fees and additional payment choices translate into meaningful business benefits. For the broader app ecosystem, the changes represent another chapter in the ongoing debate over platform control, competition and digital marketplace fairness.

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