Brazil’s Presidential Election is officially headed for a runoff.
Source: Benny Johnson
As Flávio Bolsonaro takes lead in first round of Brazil election, the Next Funds Ibovespa Linked ETF traded in Jan surged by more than 11% (this includes a 4% appreciation of the $BRL)
Source: FT
Bolsonaro now has the highest odds of winning the upcoming Brazil elections by a considerable margin
Source: Polymarkets
SK Hynix last 5 days "price discovery"
8/3: -11.47% 7/31: +26.42% 7/30: -3.62% 7/29: -7.54% 7/28: -16.16% Source: zerohedge
MASSIVE REVERSAL IN SOUTH KOREA
₩720 trillion has been added to Korean market today as KOSPI surged 16%. Samsung is up 20% SkHynix is up 25% Source: The Macro paper
Korean stocks just staged one of the biggest rebounds in market history.
After a brutal 3-day, 17% selloff, the KOSPI soared as much as 18% on Friday, its largest single-day gain on record. The turnaround wasn't random. South Korea unveiled a major stabilization package, including ~$13.9 billion for strategic AI investments and tighter leverage rules for ETFs to reduce forced liquidations. At the same time, SK Hynix hit its 30% daily limit, helped by SK Group Chairman Chey Tae-won's first-ever open-market purchase of the company's shares, while Samsung surged as much as 27%. Investors also believe the worst of this week's deleveraging may now be over, while stronger AI spending outlooks from US Big Tech boosted confidence across semiconductor stocks. Adding to the shift, Japan and South Korea reportedly coordinated currency support, signaling policymakers are willing to act aggressively to stop an AI-driven selloff from becoming a broader financial crisis. Source: Bloomberg, Global Markets Investor
South Korea's stock market is in free fall.
Korea Exchange halted all stock and program trading for the second consecutive day after the KOSPI crashed -8%. KOSPI triggered its ninth circuit breaker of the year and is down -18% in just two days. South Korea has fallen from the world's 6th-largest stock market to 11th after the crash. Source: Bull Theory
Capital is voting with its feet.
South Korea stocks are up 126% in 2026. Taiwan stocks are up 73%. China stocks are down 12%. One of the widest performance gaps we've ever seen. Source: Charlie Bilello
