Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Samsung, SK Hynix to Unveil Record AI and Semiconductor Investment Plans Worth Over $646 Billion 
Samsung, SK Hynix to Unveil $1.3 Trillion AI and Semiconductor Investment Plan 
Canada Grants C$7 Million to Greenland Molybdenum Mine to Strengthen Critical Minerals Supply 
Bayer Wins Major U.S. Supreme Court Roundup Lawsuit, Shares Surge 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
US Judge Seeks Explanation for DOJ’s Decision to Drop Gautam Adani Bribery Case 
SK Hynix Targets $29.4 Billion Nasdaq Listing to Expand AI Chip Business 
Baidu Shares Rally as Kunlunxin Eyes $50 Billion Hong Kong IPO 
Alibaba Shares Fall After Anthropic Alleges Massive AI Model Distillation Campaign 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Kakaku.com Shares Rise as Bain Capital and LY Corp Prepare Higher Takeover Bid Than EQT 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Italy Investigates Microsoft Over Microsoft 365 AI Subscription Price Hike 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Hyundai Rotem Co. and Hanhwa Defense have signed a deal with Poland’s defense unit for the supply of battle tanks and self-propelled howitzers. The South Korean manufacturer of defense products and equipment may produce more items and expand their supply contracts further.
According to The Korea Economic Daily, the deal that was signed by Hyundai Rotem and Hanwha Defense with Poland is worth $5.8 billion. The country’s Defense Acquisition Program Administration revealed late last week that the Korean firms inked their first implementation contracts to deliver the following: a K2 Black Panther, K9 self-propelled howitzer, and a next-generation main battle tank.
The defense items are set to be brought directly to the Polish military authority at a mechanized unit in the country. It was reported that the DAPA has not yet revealed the main details and exact value of the deals, but the South Korean defense industry made a guess that Hyundai may have gotten an order of 180 units of its K2 Black Panther worth $3.4 billion while Hanwha may have secured a $2.4 billion deal for 212 units of the K9 howitzers.
At any rate, the signing was said to be a formality to the earlier agreement where Hyundai Rotem and Hanhwa Defense won export deals with Poland last month worth a total of around KRW20 trillion or about $15 billion. At that time, Poland agreed to purchase 980 units of the K2 battle tanks, 48 units of the FA-50 combat aircraft, and 648 units of the K9 howitzers.
The Korean firms are reportedly planning to gradually sign more contracts for more defense supplies. Many believe that Poland will be signing a formal contract for the import of the FA-50 aircraft this year. “We expect to implement contracts for the FA-50 to be smoothly signed by September,” Eom Donhwan, DAPA Minister, said in a statement.
Finally, the contract that was inked in Poland last week is part of the biggest deal that South Korea has ever had in the arms trade. The agreement was originally clinched last month as Poland has been seeking to boost its military amid the Russian invasion of Ukraine, which is a neighboring country, Reuters reported.
"As defense exports are extremely important in terms of sharing weapon systems, mutual logistics support and strengthening security alliances, this export deal is expected to contribute to our efforts to build solidarity with European countries and expand the boundaries of our security capabilities," the DAPA added.
