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Golden Finance July 1st | Citigroup pointed out that although the outlook for South Korea's current account surplus has improved, the trend of capital outflows from the South Korean stock market, dominated by foreign investors, may still continue. Citigroup economist Jin-Wook Kim wrote in a report that driven by portfolio rebalancing and profit-taking, outflows from foreign equity investors accelerated to $30.5 billion in June, compared to $27.9 billion the previous month. As of the end of June, the proportion of foreign investors in the South Korean stock market rose to 38.9% from 32.9% in December last year. Driven by strong growth in semiconductor exports, the bank raised its forecast for the current account surplus in 2026, expecting it to reach 16.4% of GDP, up from the previous forecast of 13.2%. It is expected that the growth rate of semiconductor exports in 2026 will reach about 170%, significantly higher than 22% a year earlier.

Glonghui July 1st｜Kevin Hassett, Director of the U.S. National Economic Council, stated, "I am concerned that as long as Powell remains at the Federal Reserve, the majority of officials at the Fed may not necessarily vote out of consideration for the U.S. national interest, but rather to target Trump." He said, "We must monitor this situation closely." Hassett remarked, "It is certain that if anything goes wrong, it would not be Kevin Warsh's responsibility. He needs to coordinate various differing opinions within the Fed, and that is an extremely difficult job." Hassett noted that the current interest rate hike would be a "macroeconomic policy mistake."

```htmlGolden Ten Data reported on July 1 that traders on Wednesday said, due to increased supply in global markets, Saudi Arabian Oil Company (Saudi Aramco) reduced the official selling prices (OSP) of liquefied petroleum gas (LPG) for July by 24% to 27%, while Algerian National Oil Company (Sonatrach) lowered prices by 2% to 10%. For Saudi Aramco's July official prices, propane was reduced by $180/ton to $580/ton; butane was reduced by $220/ton to $600/ton. Propane and butane are two types of LPG with different boiling points. Sonatrach lowered its July official propane price by $57/ton to $518/ton; the official butane price was reduced by $10/ton to $600/ton.```