Dana Gas said it has shut major production facilities at the Khor Mor gas field in Iraq after a credible security threat and escalating regional tensions.

IBK Investment & Securities significantly raised its target price for Samsung Electro-Mechanics, citing continued growth in demand for AI chips as a key driver of the company's profitability. The brokerage also noted that the ongoing inflow of overseas funds into Samsung Electro-Mechanics, even amidst increased market volatility, is noteworthy. In a report released on July 16, IBK Investment & Securities analyst Kim Woon-ho maintained his "Buy" rating on Samsung Electro-Mechanics and significantly increased the target price from 1.05 million won to 1.75 million won. Kim Woon-ho stated, "With continued improvement in operating profit, the company's operating profit is expected to reach 4.8 trillion won by 2028. The increasing proportion of multilayer ceramic capacitors (MLCCs) for servers will be the main driver of profit growth." IBK Investment & Securities believes that a significant increase in capital expenditure will be a crucial support for improved performance. The report projects that Samsung Electro-Mechanics will complete capital expenditures equivalent to the scale of the past 10 years over the next three years, primarily for expanding AI chip-related production capacity, acquiring new customers for FC-BGA semiconductor packaging substrates, and meeting the demand arising from the upgrade of packaging substrates to FC-BGA. Kim Woon-ho also pointed out that Samsung Electro-Mechanics has attracted a large influx of foreign capital and assessed that the company is fully focused on future development. Data shows that foreign ownership of Samsung Electro-Mechanics has been steadily rising since hitting a low of 37.5% on the 22nd of last month, a trend significantly different from other IT companies. Even with a sharp drop in the South Korean KOSPI index, foreign ownership still rose to 39.6% on the 30th of last month, and further increased to 40% by the 15th of this month, indicating continued buying by overseas funds.

The Philadelphia Fed Manufacturing Index for July came in at 41.4, the highest level since November 2021.