First Squawk

Samsung C&T shares surge 11.8%, leading market gains.

The KOSPI advances 4.3%, building on earlier gains.

UAW to Strike at Key General Motors Truck Supplier Plant-WSJ

China Private Factory Activity Gauge Indicates Slower Expansion in May-WSJ

China's most-active coking coal contract surges as much as 7.7% to 1,384 yuan per metric ton amid concerns over supply.

The United Auto Workers says workers will go on strike at midnight at a supplier facility that supports production of General Motors trucks and SUVs.

JEROME POWELL FLAGS RISKS TO FED CREDIBILITY

Yonhap reports that an explosion sound was heard at a Hanwha Aerospace site in Daejeon.

RICH INVESTORS EXIT U.S. MARKETS, MOVE FUNDS OVERSEAS AMID DIVERSIFICATION PUSH: CNBC

According to a U.S. official cited by Axios, Nabih Berri pledged that Hezbollah would adhere to a ceasefire, while placing the responsibility on Israel to stop firing first.

Axios reports, citing a U.S. official, that Israel would hold back from further escalation in Beirut under the proposed arrangement.

According to an Axios reporter, a U.S.-backed proposal calls for Hezbollah to cease all attacks on Israel as the first phase of a potential ceasefire agreement.

U.S. Secretary of State Marco Rubio spoke with Joseph Aoun and Benjamin Netanyahu over the past 48 hours in an effort to advance a new ceasefire initiative, according to an Axios reporter.

Marcos says there is no question that the Philippines and Vietnam have aligned interests in promoting regional peace, stability, and adherence to international rules.

Marcos says the growing importance of the partnership reflects the need for closer cooperation amid an evolving and unpredictable global environment.

AMERICANS INCREASINGLY TURNING DOWN HIGH-PAYING PROMOTIONS DUE TO BURNOUT: STUDY

Taiwan's equity market rallies over 2% as buying momentum strengthens.

Philippine President Ferdinand Marcos Jr. says Manila and Vietnam have upgraded bilateral ties to an Enhanced Strategic Partnership.

China's State Council says new rules taking effect July 1 will tighten oversight of outbound investments in selected technologies.

UBS WARNS AI-DRIVEN DISRUPTION COULD PUSH PRIVATE CREDIT DEFAULTS TO 10%