🇰🇷📈KOSPI jumps as much as 14% in record intraday gain
South Korea stocks rebounded on Friday as large tech capex plans rekindled AI-driven buying. The benchmark KOSPI rose as much as 14% intraday, its largest single-day intraday gain on record. SK Hynix surged up to 28% after SK Group chairman Choi Tae-won made an unusual direct share purchase; Samsung Electronics climbed as much as 26%. The KOSPI had fallen 17% over the prior three sessions amid concerns about rising leverage at major global tech firms. The AI-led rally, which accelerated after leveraged products launched in May, has become highly volatile. NH Investment & Securities head of Korea cash equities Shawn Oh said recent AI tech sell-offs driven by deleveraging, risk reduction, liquidations and other liquidity factors may be stabilizing. Japan’s Nikkei 225 also gained around 4% in early trade, breaking above 64,000. (https://t.co/6FqfIdzOeV)
I’m extremely disappointed that President Trump has chosen to walk away from a trading relationship that for decades has made life better for millions of workers on both sides of the border.
I wish we weren’t here. I wish Ontario and Canada were working together with our American friends and allies to make our two countries the richest, most successful, safest, most secure on the planet. Instead, President Trump has chosen to move forward with tariffs that will only hurt America and make Americans poorer. Canada now has no choice but to hit back and hit back hard.
As Premier of Ontario, the federal government has my full support for a strong and forceful response that matches U.S. tariffs dollar for dollar. Canada has so much of what America needs: high-grade nickel and other critical minerals, energy and electricity, uranium, potash, aluminum. We need to maximize our points of leverage and use them to maximum effect. The federal government needs to also pursue every legal route to challenge these unfair, unjustified and illegal tariffs.
The coming days and weeks will be incredibly difficult. Trump’s tariffs will devastate our economy. They’ll put 450,000 jobs at risk across the province. Every sector and region will feel the impact.
With a strong, stable, four-year mandate that outlives and outlasts the Trump administration, I’ll do whatever it takes to protect Ontario, our workers, businesses and communities. I’ll invest tens of billions to retrain workers for new opportunities, retool companies for new customers, reshore supply chains and rebuild roads and highways to create new jobs. I’ll make tough choices to make Ontario’s economy the most competitive place to invest, create jobs and do business.
None of us want to be here, but Canada and Ontario have faced down this kind of challenge before. Each time, we’ve emerged stronger, more united, more determined than ever. Canada and Ontario will once again answer the call.
Together, we’ll meet this moment. We’ll stand united. We’ll stand strong.
Together, we’ll protect Ontario.
77% of Canada’s exports go to America, resulting in a $200b trade surplus
Conversely, just 17% of overall US exports go to Canada.
This is called “leverage”.
We must put CANADA FIRST.
That is why Common Sense Conservatives condemn President Trump’s massive, unjust and unjustified tariffs on Canada’s already weak economy. Canada is the United States’ closest neighbour, greatest ally and best friend. We share the longest undefended border and fought alongside Americans in two world wars, Korea and Afghanistan, where 158 of our brave men and women died helping the U.S. avenge the 9/11 attacks. There is no justification whatsoever for this treatment.
The Liberals must put aside their partisan interests and recall Parliament now to pass a Canada First Plan that will:
1. Retaliate with dollar-for-dollar tariffs carefully aimed at maximizing impact on American companies while minimizing impact on Canadian consumers. That means targeting U.S. products that we can make ourselves, buy elsewhere or do without. For example, we must retaliate against American steel and aluminium, as Canadians can make those vital products at home.
2. Put all the tariff revenues into help for affected workers and businesses; Government should not keep a dime of the new revenue.
3. Pass a massive emergency Bring It Home Tax Cut to bolster the economy, stop inflation and save and create jobs. Canada needs a massive tax cut on work, investment, energy, homebuilding and making stuff at home. The Liberal carbon tax and capital gains tax hikes must be the first on the chopping block.
4. Immediately scrap the Liberal anti-resource law C-69 and greenlight LNG plans, pipelines, mines, factories, and port expansions to overseas markets.
5. Bring in truly free trade within Canada by knocking down interprovincial barriers to help replace lost north-south trade with east-west trade and to make us self-reliant.
6. Rebuild our military and take back control of our borders to regain the confidence of our partners, assert our sovereignty, protect our people and put Canada First.
We will protect our economy, defend our sovereignty, bring home production and paycheques and never back down. We will put Canada First—now and always.
my daily routine as a wall street quant 🥰🤓
- 5:30am: wake up + cold brew
- 8:00am: look up fun stocks :)
- 2:00pm: uh oh! emergency team meeting!
- 2:30pm: ignore call from Morgan Stanley
- 5:00pm: secretary says I lost “approximately $20 billion” in 2 days ?? wtf so mean
Political narratives used to explain (ex post)moves up in #stocks in the last few weeks
Trump win is good
Divided govt is good
Blue wave is good
Divided govt is good
Now: All good as no street violence.
Better explanation
Repeated evidence of central bank support for asset prices
For good reason many people are worried about what @realDonaldTrump might do over the next 10 weeks. But there is also reason to worry about what he won't do, namely, take on Covid-19. By inauguration day it is all too possible some 2000 Americans will be dying each & every day.
Fun fact: While Earth revolves around the sun *now*, the long-term behavior of the solar system is not fully known but most likely chaotic- both Mercury/Venus and Pluto/Neptune could possibly collide and trigger massive gravitational instabilities in the remaining planets orbits!