Herman Smetanin, general manager of Ukraine's defense industry group, said on the 14th local time he had stepped down with immediate effect and gave no reason.

SK Hynix fell nearly 10% on its second day of US trading. Underlying volatility in Korea has been acute: after Korean regulators warned of a chip-sector overheat, the KOSPI plunged almost 10% on June 23; three days later (June 26) memory-demand worries triggered an index circuit breaker; on July 13 KOSPI dropped about 9% amid Iran-related risk, again tripping a market-wide circuit breaker. These moves have shown early global transmission—following the June 23 selloff the Nasdaq fell more than 2%, and it closed down 1.55% after the July 13 KOSPI decline. SK Hynix’s US listing, reportedly ~7x oversubscribed, effectively embeds one of Korea’s most leveraged, volatility-prone stocks into US investor portfolios. Market mechanics cited in the note: amplified retail leverage in Korea magnifies chip-sector swings, weighing on global AI demand expectations, while repricing of US Treasuries tightens liquidity—together increasing potential for broader spillovers. This is not a forecast of imminent systemic crisis: semiconductor demand supporting Samsung and SK Hynix remains real and growing, but KOSPI concentration and leverage-driven volatility raise the risk that shocks in Korea propagate more widely than expected.

美国银行基金经理调查：现金水平从4.1%降至3.6%这一“极低”水平，触发了美国银行现金规则下的卖出信号。