Market Overview
The following is a partial recap of the market analysis shared during today’s morning Discord call.
U.S. markets extended their decline yesterday, driven primarily by sharp losses across technology and semiconductor stocks. The selloff was triggered by elevated crude oil prices amid ongoing Middle East tensions, alongside 30-year U.S. Treasury yields surging to 19-year highs. These macro headwinds reignited fears over rising corporate borrowing costs, sparking a broad valuation reset across high-growth AI and chip names. Elsewhere in the U.S. market, precious metals continued to pull back from recent highs, while Baidu shares plunged after a disappointed earnings report.
KOSPI
In Asian markets, the Korea Composite Stock Price Index (KOSPI) tumbled nearly 6% as global macroeconomic pressures and surging bond yields prompted heavy liquidations in technology equities. Steep declines in major heavyweight constituents dragged the entire benchmark lower, led by severe drops in SK Hynix (-9.75%), Samsung Electronics (-7.82%), and SK Square (-11.54%), mirroring the weakness observed in Wall Street tech names.
Bidu Inc (BIDU)
Baidu Inc. reported its Q2 2026 financial results yesterday, missing consensus expectations on both top and bottom lines. The stock subsequently plummeted 12.73% to close at $90.87. Against Wall Street expectations of RMB 9.84 per ADS on revenue of RMB 31.95 billion, Baidu delivered earnings per ADS of RMB 7.22 on revenue of RMB 31.33 billion.
Local Stocks
EXX
All eyes are on Exxaro Resources ahead of its earnings release tomorrow. The counter fell 3.02% after issuing its H1 2026 trading statement five days ago, which warned that HEPS and AEPS are projected to drop between 18% and 23% to 1,327c–1,414c per share (down from 1,724c in H1 2025). While initial selling pressure dragged the price down to a low of R175.04, it has managed a modest bounce off those levels.
Earnings, Economic Data and Ex-Dividends
Pre-Market Earnings
Target (TGT)
Target (TGT) operates a large-scale general merchandise retail chain offering affordable consumer goods, apparel, home decor, and groceries through physical stores and digital channels.
Estée Lauder (EL)
Estée Lauder (EL) manufactures, markets, and sells prestige skincare, makeup, fragrance, and hair care products globally under a portfolio of luxury and premium brands.
After-Market Earnings
BILL Holdings (BILL)
BILL Holdings (BILL) provides cloud-based software that automates back-office financial processes, accounts payable, accounts receivable, and spend management for small and midsize businesses.
Coty (COTY)
Coty (COTY) manufactures and distributes prestige fragrances, mass cosmetics, and skincare products using a mix of owned brands and high-end licensed fashion names.
Ex-Dividend
The following stocks are set to go Ex-div today.
| Stock | Price | Dividend | Ex-Div Price | Change |
| INP | R 145.46 | R 4.72 | R 140.74 | -3.24% |
| INL | R 143.17 | R 4.72 | R 138.45 | -3.30% |
| KIO | R 243.11 | R 7.90 | R 235.21 | -3.25% |
| VAL | R 1 412.68 | R 57.00 | R 1 355.68 | -4.03% |
| MNP | R 190.45 | R 1.79 | R 188.66 | -0.94% |
| AGL | R 842.25 | R 3.85 | R 838.40 | -0.46% |
| ANG | R 1 572.99 | R 11.62 | R 1 561.37 | -0.74% |
Economic Data
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