{"id":64338,"date":"2026-07-06T22:08:20","date_gmt":"2026-07-07T02:08:20","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-hormuz-attacks-and-samsung-earnings-miss\/64338\/"},"modified":"2026-07-06T22:08:20","modified_gmt":"2026-07-07T02:08:20","slug":"global-markets-shaken-by-hormuz-attacks-and-samsung-earnings-miss","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/global-markets-shaken-by-hormuz-attacks-and-samsung-earnings-miss\/64338\/","title":{"rendered":"Global Markets Shaken by Hormuz Attacks and Samsung Earnings Miss"},"content":{"rendered":"<h2>Key Takeaways<\/h2>\n<ul>\n<li><strong>Iran&#39;s IRGC launched missile attacks on commercial vessels in the Strait of Hormuz<\/strong>, hitting a Qatari LNG tanker (<strong>Al Rekayyat<\/strong>) and a second merchant ship, reigniting global energy supply fears.<\/li>\n<li><strong>Samsung Electronics (<a href=\"\/stock\/005930\">005930<\/a>) triggered a \u20a9262.3 trillion ($170 billion) rout in South Korean stocks<\/strong> after its Q2 revenue guidance missed analyst expectations, leading the <strong>KOSPI<\/strong> to a 4% decline.<\/li>\n<li><strong>The World Bank projected China&#39;s economic growth to slow to 4.4% in 2026<\/strong>, citing persistent headwinds in the property sector and softening domestic demand.<\/li>\n<li><strong>Japan\u2019s Economy Minister Ryosei Kiuchi signaled respect for Bank of Japan independence<\/strong>, stating the government is not seeking ultra-low rates, which bolstered the <strong>Yen<\/strong> and pushed <strong>40-year JGB yields<\/strong> to 3.935%.<\/li>\n<li><strong>Hong Kong officially launched trial operations for a new <a href=\"https:\/\/stockmarketwatch.com\/metal\/gold\" data-internallinksmanager029f6b8e52c=\"4\" title=\"gold price today\">gold<\/a> clearing system<\/strong>, a strategic move designed to challenge London&#39;s dominance and establish the city as a primary bullion-trading hub.<\/li>\n<\/ul>\n<hr>\n<h2>Middle East Conflict Escalates in Critical Chokepoint<\/h2>\n<p>Geopolitical tensions surged as <strong>Iran\u2019s Islamic Revolutionary Guard Corps (IRGC)<\/strong> resumed attacks in the <strong>Strait of Hormuz<\/strong>, targeting commercial shipping. The <strong>U.S. Military<\/strong> confirmed that at least two missiles were fired, striking the Qatari-operated LNG tanker <strong>Al Rekayyat<\/strong> and another vessel. While no casualties were reported, the <strong>Al Rekayyat<\/strong> suffered a fire in its engine room, and the attacks have immediately revived the &quot;war-risk&quot; premium in global oil and gas markets.<\/p>\n<p>The timing of the strikes is particularly sensitive, occurring during the funeral of the late former Iranian Supreme Leader <strong>Ali Khamenei<\/strong>. Analysts suggest the IRGC&#39;s actions demonstrate a hardline influence independent of moderate factions within Tehran. This escalation threatens to derail a recent <strong>Memorandum of Understanding (MOU)<\/strong> between the U.S. and Iran intended to ensure safe passage through the waterway, which handles roughly 20% of the world&#39;s oil and LNG flows.<\/p>\n<h2>Samsung Guidance Triggers Tech Sell-Off<\/h2>\n<p>In Asia, the <strong>South Korean KOSPI<\/strong> index tumbled over 4%, erasing more than <strong>$170 billion<\/strong> in market value. The rout was spearheaded by <strong>Samsung Electronics (<a href=\"\/stock\/005930\">005930<\/a>)<\/strong>, which saw its shares drop as much as 7.5% despite forecasting a 19-fold jump in operating profit to <strong>\u20a989.4 trillion<\/strong>. Investors focused on a &quot;revenue miss,&quot; as the guided <strong>\u20a9171 trillion<\/strong> in sales fell short of the most bullish market estimates.<\/p>\n<p>The negative sentiment spilled over to other semiconductor players, with <strong>SK Hynix (<a href=\"\/stock\/000660\">000660<\/a>)<\/strong> falling 6.5% and Japan&#39;s <strong>Kioxia<\/strong> dropping nearly 10%. While <strong>Samsung<\/strong> is benefiting from the AI-driven demand for memory chips, analysts noted that its mobile division likely faced losses, and the broader market appears to be entering a &quot;speed adjustment&quot; phase after a prolonged rally in tech stocks.<\/p>\n<h2>Japan Signals Monetary Normalization<\/h2>\n<p>Japan\u2019s Economy Minister <strong>Ryosei Kiuchi<\/strong> provided a boost to the <strong>Yen<\/strong> by clarifying that the government is not pressuring the <strong>Bank of Japan (BoJ)<\/strong> to maintain ultra-low interest rates. Kiuchi emphasized that monetary policy should be driven by economic conditions and market forces rather than political mandates. These remarks reinforced expectations that the <strong>BoJ<\/strong> may continue on its path toward policy normalization if inflation remains stable above its 2% target.<\/p>\n<p>Market reaction was swift, with the <strong>Yen<\/strong> gaining against the <strong>U.S. Dollar<\/strong> and the <strong>40-year Japanese Government Bond (JGB)<\/strong> yield rising 1 basis point to <strong>3.935%<\/strong>. <em>The Wall Street Journal<\/em> warned that rising JGB yields and Yen volatility could spur broader global market instability as Japanese investors reassess their massive overseas holdings.<\/p>\n<h2>China Growth Outlook and Hong Kong Gold Ambitions<\/h2>\n<p>The <strong>World Bank<\/strong> released a somber update for the region, projecting that <strong>China&#39;s GDP growth will slow to 4.4% in 2026<\/strong>. The forecast reflects ongoing structural challenges, including a protracted property sector adjustment and cautious household spending. In response to the broader regional weakness, the <strong>CSI 300 Index<\/strong> fell 0.6% at the open, as investors weighed the impact of slowing Chinese demand on global trade.<\/p>\n<p>Simultaneously, <strong>Hong Kong<\/strong> took a major step in its financial evolution by beginning trial operations of a new <strong>gold clearing and settlement system<\/strong>. Backed by major banks and the government-owned <strong>Hong Kong Precious Metals Central Clearing Company<\/strong>, the system uses unallocated accounts to facilitate faster, cheaper trading. By linking with the <strong>Shanghai Gold Exchange<\/strong>, Hong Kong aims to transition from a &quot;price-taker&quot; to a &quot;price-maker,&quot; directly challenging London&#39;s historical grip on the global bullion market.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Iran&#39;s IRGC launched missile attacks on commercial vessels in the Strait of Hormuz, hitting a Qatari LNG tanker 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