South Korea Stocks Tumble as AI-Fueled Rally Faces Profit-Taking Pressure 
Wall Street Slides as AI Stocks Tumble Following South Korea Tech Sell-Off 
China Keeps Loan Prime Rates Unchanged for 13th Straight Month as Policymakers Prioritize Credit Demand Recovery 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Oil Prices Slip as Iran Sanctions Relief and Hormuz Shipping Recovery Ease Supply Concerns 
Australia Inflation Cools in May, But Core CPI Keeps RBA Rate Hike Risks Alive 
US Dollar Climbs to One-Year High as Fed Rate Hike Expectations Surge 
Russian Stocks End Flat as MOEX Index Hits New 52-Week Low 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
U.S.-Iran Diplomacy Helps Drive Gasoline Prices Down 15% From May Highs 
France Faces Long Road to Economic Rebalancing as Weak Demand and High Rates Weigh, Says Citi 
Yen Near 40-Year Low as USD/JPY Approaches Key 162 Level, Raising Intervention Concerns 
Japan, U.S. Discuss Yen Weakness as Currency Intervention Concerns Grow 
Asian Stocks Slide as AI Rally Pauses, South Korean Chipmakers Lead Regional Decline 
South Korea’s KOSPI Rebounds as Samsung and SK Hynix Lead Tech Stock Recovery 
Israel’s stock market closed higher on Sunday, with the TA 35 index surging 0.95% to reach a new all-time high. Gains in the insurance, real estate, and technology sectors propelled the market, reflecting investor confidence amid a broader global economic slowdown.
Top Performers Lead the Surge
Phoenix Holdings Ltd. emerged as the best performer of the session, jumping 4.31% to hit 5,060.00 points, its highest level in five years. The company’s performance was bolstered by strong quarterly earnings and robust demand in the insurance sector.
Airport City Ltd. also posted impressive gains, climbing 4.03% to 6,141.00 points, while Nova soared 4.01% to 70,090.00 points in late trading, reflecting the resilience of Israel’s technology sector.
In contrast, Camtek Ltd. and Tower Semiconductor Ltd. were among the worst performers, shedding 2.39% and 2.20%, respectively. Teva Pharmaceutical Industries Ltd. also declined, losing 1.93% to close at 6,247.00 points, reflecting challenges in the pharmaceutical industry.
Commodities and Currency Markets
While Israeli stocks gained, commodities saw mixed results. Crude oil prices fell, with January delivery down 1.61% to $67.20 a barrel. Brent oil for February delivery also dropped 1.35% to $71.12 a barrel. Gold futures, however, climbed 0.42% to $2,659.60 per troy ounce, reflecting investor caution amid global market volatility.
Currency markets painted a similar picture. The Israeli shekel strengthened against the U.S. dollar and euro, with USD/ILS down 0.56% to 3.57 and EUR/ILS falling 0.53% to 3.78. The U.S. Dollar Index rose 0.32% to 105.73, indicating continued dollar strength against a basket of major currencies.
