International News 30 July 2026
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Israel Sets October 2026 Election as Netanyahu Faces Tough Political Test
Israel will hold a national election on October 27, 2026, the first since the Hamas-led attack on October 7, 2023, which killed hundreds of Israelis, shattered the country's sense of security, and triggered prolonged conflicts in Gaza, Lebanon, and Iran. Although recent opinion polls suggest Prime Minister Benjamin Netanyahu could be headed for defeat, Israel's highly fragmented political system makes the outcome far from certain, with smaller parties expected to play a decisive kingmaker role in coalition negotiations. Recent surveys indicate Netanyahu's standing has weakened significantly, with many voters blaming his government for failing to prevent the October 7 attack, damaging his long-standing reputation as a guarantor of Israel's national security. Nevertheless, the country's proportional representation system means coalition-building after the election will likely determine who ultimately forms the next government, regardless of which party wins the most seats.
South Korean Stocks Extend Selloff as AI Rally Unravels
South Korea's stock market came under renewed heavy pressure on Wednesday, extending the sharp losses that began a day earlier as the artificial intelligence (AI)-driven rally turned into a broad market selloff. According to Reuters, the benchmark KOSPI index plunged as much as 12.6% in early trading before recovering some ground to close 6% lower. The rout followed an almost 11% decline in the previous session, putting the index on track for its worst monthly performance on record. In just over a month since reaching its peak, the KOSPI has lost nearly 40% of its market value, wiping out an estimated US$2.18 trillion in market capitalization. The downturn has been particularly painful for retail investors who had used borrowed funds to invest in AI-related stocks. Thin trading volumes suggest buying interest has largely evaporated from semiconductor shares, which had been among the global market's top performers in recent weeks amid booming demand fueled by AI infrastructure investment.
U.S. Says It Intercepted Iranian Ballistic Missiles Targeting Forces in Middle East
The U.S. military said it successfully intercepted several ballistic missiles launched by Iran toward American forces in the Middle East, describing the barrage as a surprise attack by Tehran. According to Reuters, the U.S. Central Command (CENTCOM) stated on Tuesday that all incoming missiles were destroyed before reaching their intended targets, although it did not disclose the specific locations that were under attack. Shortly afterward, Iran's Islamic Revolutionary Guard Corps (IRGC) confirmed that it had fired several ballistic missiles at a U.S. air base and a CENTCOM command facility in Jordan. Tehran said the strike was carried out in retaliation for recent U.S. actions that it claimed had harmed Iran's national interests.