spike

Seoul stocks rose by more than 4 percent Friday, as investors snapped up tech heavyweights amid hopes the war between the United States and Iran could end soon.

The benchmark Korea Composite Stock Price Index (KOSPI) closed up 359.67 points, or 4.63 percent, at 8,123.62 after rising as high as 8,434.40.

After opening sharply higher on renewed hopes that the war between the U.S. and Iran is near its end, the index trimmed earlier gains on profit taking ahead of the closing bell.

Trade volume was heavy at 490.3 million shares worth 51.1 trillion won (US$33.6 billion). Winners outnumbered losers 753 to 144.

On Thursday (U.S. time), U.S. President Donald Trump said he has reached a “great settlement” that would resolve the monthslong conflict with Iran and the deal would be signed as early as over the weekend, possibly in Europe.

Media outlet Axios also reported that four U.S. Air Force C-17 planes departed for Europe on Thursday, moving equipment for possible travel by Vice President J.D. Vance, raising the possibility a signing ceremony could take place in Geneva, Switzerland.

“Market sentiment improved as foreign investors shifted to net buying after a 25-session selling streak, on anticipations for peace negotiations,” said Lee Kyoung-min, an analyst from Daishin Securities.

But the rise was limited, amid reports that global banks are curbing hedge funds’ leveraged bets on the country’s two semiconductor heavyweights: Samsung Electronics and SK hynix, Lee added.

Foreigners and institutional investors net purchased a combined 4.4 trillion won. Retail investors net sold 4.3 trillion won.

In Seoul, shares closed higher across the board.

Market top-cap Samsung Electronics rose 7.86 percent, to 322,500 won, while its chipmaking rival SK hynix moved up 2.33 percent to 2,150,000 won.

Semiconductor equipment maker Hanmi Semiconductor vaulted 24.05 percent to 361,000 won, after the company said in a regulatory filling it is seeking to invest in SpaceX, Elon Musk’s space company set to make its Nasdaq debut on Friday (local time).

Shipmakers also gathered ground as investors went bargain hunting. Hanwha Ocean added 7.85 percent to 112,700 won and HD Hyundai Heavy Industries increased 0.62 percent to 650,000 won.

Portal operator Naver jumped 10.27 percent, to 247,000 won, financial firm KB Financial climbed 6.4 percent to 161,200 won, and top car maker Hyundai Motor added 1.68 percent to 607,000 won.

The Korean won was quoted at 1,519.8 won against the U.S. dollar as of 3:30 p.m., up 9.1 won from the previous session’s close.

Bond prices, which move inversely to yields, closed higher. The yield on three-year Treasurys fell 9.6 basis points to 3.808 percent, and the return on the benchmark five-year government bonds declined 10.9 basis points to 3.971 percent.

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Migrants say they are living in fear after a campaign group gave people living illegally in South Africa until June 30 to leave. Nigeria’s diplomatic mission in South Africa says many of those returning no longer feel safe to continue living or working in the country.

Anna Maxwell Martin takes on an intimidating new role that’s miles away from Motherland in this gripping Apple TV drama

The new Cold War thriller features some very recognisable names.

Apple TV’s highly anticipated For All Mankind spin-off Star City is finally here and has received rave reviews across the board.

Taking viewers back to the 1970s in this alternate version of history in which the Soviet Union won the space-race, the series picks up with the Russian politicians, engineers, cosmonauts, and KGB agents overseeing more missions to the Moon.

While the USSR is still basking in the victory of becoming the first nation to put a man on the Moon in 1969, tensions are running high as the threat of the US still looms large during the Cold War.

The series begins today (Friday, 29th May) with six more episodes coming each Friday until a riveting finale on 10th July.

But who is in the cast of Star City? From a major sitcom star to actors from some of the most acclaimed dramas of the past few years, let’s take a closer look at where you’ve seen them before.

Star City’s main cast

Rhys Ifans – Chief Designer

Welsh film and TV icon Rhys Ifans portrays the secretive figure at the head of the Star City program, known only as the chief designer.

You’ll have seen him recently as Otto Hightower in House of the Dragon, HBO’s popular Game of Thrones spin-off, as well as portraying Xenophilius Lovegood in the Harry Potter franchise and as Curt Connors/The Lizard in The Amazing Spider-Man, a role he reprised in Spider-Man: No Way Home.

His performance as comedy legend Peter Cook in Channel 4’s Not Only But Always won him a BAFTA TV award, and he is also well-known for his role as Spike in Notting Hill opposite Hugh Grant.

Anna Maxwell Martin – Lyudmilla Raskova

Anna Maxwell Martin plays the head of Star City’s KGB surveillance department, Lyudmilla Raskova, in a performance the Guardian has described as “terrifying”.

Martin has appeared in a huge range of popular British dramas, including Line of Duty, Ludwig, and ITV’s Until I Kill You, which won her an International Emmy Award.

She has also won BAFTA TV Awards for her roles in Bleak House and Poppy Shakespeare and is well-known among comedy fans for playing Julia Johnstone in the hit BBC sitcom Motherland.

Agnes O’Casey – Irina Morozova

Irina Morozova, a recent KGB recruit at Star City, is portrayed by English and Irish actress Agnes O’Casey.

O’Casey has landed supporting roles in major dramas in the 2020s, including Dangerous Liaisons, Wolf Hall: The Mirror and the Light, and Netflix’s Black Doves.

On the big screen she has appeared in Small Things Like These with Cillian Murphy and in The Miracle Club, Dame Maggie Smith’s final film.

Alice Englert – Anastasia Belikova

Anastasia Belikova is an untested female cosmonaut in the Soviet space program and portrayed by Australian actress Alice Englert.

Previously best known for her film roles, she has appeared in Ginger & Rosa with Elle Fanning, Beautiful Creatures with Alden Ehrenreich, and Netflix’s The Power of the Dog with Benedict Cumberbatch, which was directed by her mother Jane Campion.

Englert also appeared with O’Casey in Dangerous Liaisons, as well as BBC’s The Serpent and Jonathan Strange & Mr Norrell, and made her directorial debut with the 2023 film Bad Behaviour starring Jennifer Connelly.

Solly McLeod – Sasha Polivanov

Sasha Polivanov is described as “a reckless cosmonaut who has yet to live up to his potential” and is portrayed by Solly McLeod.

McLeod is a British actor known for playing the title role in ITV’s adaptation of Tom Jones, and has also played Ser Joffrey Lonmouth in two episode of House of the Dragon with Star City co-star Ifans.

He is also set to appear in the major upcoming films Practical Magic 2 and Anxious People, adapted from the bestselling novel by Fredrik Backman.

Adam Nagaitis – Valya Mironov

In contrast to Sasha, Valya is a respected cosmonaut in the Star City program brought to life by British actor Adam Nagaitis. Nagaitis previously portrayed a Russian firefighter in HBO’s acclaimed miniseries Chernobyl.

He has also appeared in the film The Last Duel with Matt Damon and Adam Driver, as well as TV series The Responder, The Agency and A Thousand Blows.

Ruby Ashbourne Serkis – Tanya Mironova

Ruby Ashbourne Serkis is the actress daughter of The Lord of the Rings star Andy Serkis and will be portraying Tanya, the wife of one of Star City’s cosmonauts.

She has previously appeared in TV series Shardlake and I, Jack Wright, as well as two recent Cillian Murphy films; Netflix’s Steve and the Peaky Blinders movie, The Immortal Man.

Josef Davies – Sergei Nikulov

Josef Davies portrays Sergei Nikulov, a young engineering prodigy working at Soviet Ground Control. Davies is best known as Sören in Young Wallander and he has also appeared in Andor, Grace, and Agatha Christie’s Seven Dials, as well as the hit WWI film 1917.

Supporting cast and guest stars

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Star City also features an extensive cast of supporting stars. They include:

• David Dencik (The Assassin) as Maxim Tarasov
• Eliot Salt (Rivals) as Vika Yegorova
• Ellie Piercy as Galina
• Robin Berry as Rem Balabanov
• Chris Leaney as Viktor
• Eadie Johnson as Zoya Morozova
• Aurelijus Pocius as Zhenya

There are also some major names and rising stars making guest appearances throughout the first season. They include:

• Niamh Algar (The Iris Affair) as Yana Akhmatova
• Jenny Walser (Heartstopper) as Leonova
• Sam Strike (Outer Range) as Pavel Fetisov
• Ian Drysdale as Doctor Borovsky
• Sam Wilkinson as Alexei Leonov
• Neringa Bulotaité as Natalia Ivanovna
• Sean Gilder as Vladimir Belikov
• Jamie de Courcey as Stanislav Kalinsky
• Fadily Camara as Celine
• Michael James as Galytzin
• Šarūnas Datenis as Arkady
• Priya Kansara (Bridgerton) as Lakshmi, a gifted scientist

Star City continues Fridays on Apple TV.

SAN DIEGO — Sitting in the Petco Park visiting dugout Monday afternoon, Dodgers general manager Brandon Gomes would have preferred to be answering a different set of questions about the team’s rotation depth.

In spring training, it was all about how many difficult decisions the Dodgers had in front of them because of the quality depth they’d built. In the first couple months of the season, a spike of injuries had completely flipped the conversation.

“It’s the reason why you try to go in with as much depth as you can knowing that things can happen,” Gomes said. “You hope that they don’t pile up all at the same time, which has happened as of late. But we’ll keep navigating it. We’ll work through it like we have in the past.

“The biggest thing is we’ve got a big series these three games. Go out and play good baseball here and then keep balancing the short-term, long-term.”

Gomes provided updates on the Dodgers’ mounting pitching injuries, and how the team is combating the absences:

—The Dodgers expect left-hander Blake Snell will undergo the less invasive NanoNeedle scope procedure to remove loose bodies from his elbow Tuesday. The procedure could shorten Snell’s recovery time by a month, compared to a more traditional arthroscopic procedure.

—Right-hander Tyler Glasnow had another back flare-up. He’ll be shut down from throwing for a few days. “No concern long-term,” Gomes said. “But a little slower on the front end than we expected.”

—The Dodgers are leaning toward using Eric Lauer as a starter. They have not yet decided where to slot him in, but it probably won’t be this weekend in Milwaukee.

—Right-handed reliever Brusdar Graterol (right shoulder surgery recovery) sustained a back injury while on rehab assignment with triple-A Oklahoma City. The team is still working to determine next steps and has not ruled out surgery.

WASHINGTON — The Senate confirmed President Trump’s nominee to lead the Federal Reserve, Kevin Warsh, bringing new leadership to the world’s most powerful central bank at a fraught moment for the global economy.

Warsh was confirmed Wednesday in a largely party-line vote. His nomination had been thrown into doubt in recent months after Republican Sen. Thom Tillis of North Carolina said he would block the nomination while the Justice Department investigated Fed Chair Jerome H. Powell. The Powell inquiry was dropped in April, clearing the way for the Senate to confirm Warsh.

Senate Majority Leader John Thune (R-S.D.) urged colleagues to support Warsh during a floor speech Wednesday morning, saying it’s crucial that a Fed chair “understand not only the macro” but also “appreciate the microeconomy: and that’s the hardworking Americans, their jobs and their livelihoods.”

“Kevin Warsh is just such a person,” Thune said.

Warsh, 56, a former top Fed official, will become chair at an unusually difficult time for the independent agency.

Inflation has topped the Fed’s 2% target for five years and is now rising faster because of surging gas prices. The Fed’s interest rate-setting committee is divided and saw the most dissenting votes in more than three decades last month. And Powell, after years of personal attacks from the Republican president and an unprecedented legal investigation by the Justice Department, plans to stay on the Fed’s board even after his term as chair ends, potentially creating a competing power center.

Trump has demanded change at the Federal Reserve

The Fed has faced numerous threats to its independence from Trump, who has repeatedly attacked Powell for not cutting interest rates. Trump also sought to fire Fed Gov. Lisa Cook and launched an investigation into brief Senate testimony by Powell on a building renovation.

Kevin Hassett, director of the White House’s National Economic Council, said in a Fox News interview on Sunday that he believes the markets are relieved that Warsh “is going to help lower interest rates over time.”

“Obviously, data driven,” said Hassett. “I’m not putting any pressure on Kevin Warsh.”

In December, Trump said on his social media platform that he wanted a Fed chair who would cut interest rates when the stock market rose — the opposite of what traditional economics would prescribe — and added, “Anyone that disagrees with me will never be the Fed chairman!”

Trump’s comments have fueled concerns over whether Warsh will set rates based on economic conditions or seek to cut rates to appease Trump, even if doing so could worsen inflation. At Warsh’s confirmation hearing last month, Sen. Elizabeth Warren, a Democrat from Massachusetts, derided him as a “sock puppet” for Trump. Warsh declined to say that Democrat Joe Biden had won the 2020 election against Trump, who has falsely claimed that voter fraud cost him reelection.

Still, Warsh denied at the hearing that Trump had pressured him to reduce the Fed’s key rate.

“The president never once asked me to commit to any particular interest rate decision, period,” Warsh said then. “Nor would I ever agree to do so if he had. … I will be an independent actor if confirmed as chair of the Federal Reserve.”

A critic of the Fed’s leadership in the past

Warsh has been highly critical of the Fed’s recent track record, particularly the inflation spike in 2021-22, the worst in four decades, and has called for “regime change.” Yet he has provided only broad outlines of what that change would involve.

He has called for limiting the Fed’s communications, which would be a sharp shift after decades of increasing transparency. He has argued that some of its communications tools, such as quarterly forecasts of where its key rate may head, have made it harder for officials to switch gears.

Senate Democrats also have condemned Warsh for not fully divulging the details of his extensive wealth, which disclosures show amounts to at least $100 million. His investments include stakes in Polymarket and SpaceX, but he hasn’t revealed how large those holdings are. He promised to sell all such assets within 90 days of being sworn in.

“He will be the wealthiest Fed chair in history, but he refuses to provide transparency to the American people about who he is entangled with,” Warren said.

Warsh faces difficult economic conditions

The Fed is still grappling with how to respond to the 50% jump in gas prices from the Iran war. The increase has boosted inflation, which reached 3.8% in April.

The Fed is tasked by Congress with keeping prices stable, which it seeks to do by raising its short-term rate to make borrowing and spending more expensive, cooling growth and inflation.

The Fed typically looks past temporary price increases that stem from supply disruptions, such as the war’s cutoff of oil through the Strait of Hormuz, because those prices typically level off — or even fall back down — once the supply is restored.

But the Fed also followed that approach after the COVID-19 pandemic snarled global supply chains for goods, lifting prices for things such as cars, furniture and electronics. Inflation turned out to last longer than expected, and Powell and other Fed officials have acknowledged they waited too long to raise rates. Inflation surged to 9.1% by June 2022.

The Fed’s rate-setting committee has kept rates unchanged for three straight meetings as it evaluates the effect of the gas price spike. At its most recent meeting last month, three members of the committee objected to language that suggested its next move would be a rate cut. They preferred more neutral language that would allow for a hike. Many Fed watchers saw those dissents as a warning shot to Warsh that he won’t be able to easily engineer rate reductions.

A fourth member of the 12-member committee, Stephen Miran, dissented in favor of a rate cut, as he has at every meeting since Trump appointed him to the Fed’s board last September. Miran is serving until a replacement is named, and Warsh will take his spot.

Powell, meanwhile, said at a news conference April 29 that he would remain as a Fed governor until the Justice Department closes its investigation into the Fed’s building project, the first time a chair may stay on the board for an extended period since 1948. His term as a governor lasts until January 2028.

U.S. Atty. Jeanine Pirro has dropped the government’s investigation, but she has said it could be reopened if the Fed’s inspector general office, which has looked into the renovation project since last July, finds evidence of criminal activity.

Rugaber and Cappelletti write for the Associated Press.

South Korean stocks shot up by more than 5 percent to close at a fresh high Monday, approaching the 7,000-point mark, as investors scooped up semiconductor shares while awaiting developments in U.S.-Iran peace talks. The Korean won rose sharply against the U.S. dollar.

The benchmark Korea Composite Stock Price Index (KOSPI) added 338.12 points, or 5.12 percent, to a fresh record high of 6,936.99.

Trade volume was heavy at 864.3 million shares worth 41.3 trillion won (US$28.2 billion), with losers outnumbering winners 473 to 392.

Foreigners bought 3 trillion won worth of local shares, and institutions purchased a net 1.9 trillion won, while retail investors dumped a net 4.8 trillion won.

The index opened 2.79 percent higher after U.S. President Donald Trump announced a plan to guide ships not involved in the Iran conflict through the Strait of Hormuz as a “humanitarian gesture” starting this week.

Later, a senior Iranian official warned that Tehran would consider any U.S. interference in the strait a ceasefire breach.

However, the KOSPI extended its gains in the afternoon, supported by foreign and institutional buying.

“Tech shares were driven by gains on Wall Street over the weekend,” Lee Kyung-min, an analyst at Daishin Securities, said. “Also, foreign investors expanded their net purchase ahead of the market closure for Children’s Day on Tuesday.”

The main index surpassed the 5,000-point mark in late January and topped another milestone of the 6,000-point level in February.

After recouping its losses in March following the outbreak of the U.S.-Iran war in late February, the KOSPI is now approaching the uncharted 7,000-point level on continued optimism over the AI boom and hopes for the reopening of the key waterway.

Semiconductor stocks led the rally.

Chip giant Samsung Electronics jumped 5.44 percent to 232,500 won, and its chipmaking rival SK hynix surged 12.52 percent to a fresh record high of 1.4 million won, surpassing 10 trillion won in market capitalization for the first time.

Hanmi Semiconductor, a chip equipment manufacturer, rose 2.72 percent to 378,000 won, and Samsung Electro-Mechanics, an electronic components affiliate of Samsung Electronics Co., soared 10.34 percent to 918,000 won.

Defense shares were also strong as industry leader Hanwha Aerospace advanced 3.39 percent to 1.4 million won and LIG D&A gained 4.46 percent to 983,000 won.

Top carmaker Hyundai Motor climbed 1.51 percent to 539,000 won, and leading battery maker LG Energy Solution increased 2.5 percent to 472,000 won.

However, bio shares went south as Celltrion fell 1.35 percent to 197,800 won, and Samsung Biologics dropped 2.58 percent to 1.4 million won.

The Korean won was quoted at 1,462.8 won against the U.S. dollar at 3:30 p.m., up 20.5 won from the previous session.

The quotation marks the highest since February 27, when the currency closed at 1,439.7 to the greenback.

Bond prices, which move inversely to yields, closed lower. The yield on three-year Treasurys added 2 basis points to 3.615 percent, while the return on the benchmark five-year government bonds gained 1.7 basis points to 3.797 percent.

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