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Versatile actor Salim Kumar passes away aged 57

He had been rushed to a private hospital with fever and shortness of breath in the early hours of June 6, and placed on ventilator support

World’s hottest market has Korea bulls reaching for protection

A wave of optimism over South Korean stocks is giving way to growing caution, as some investors hedge positions and pare back crowded trades on concerns that the rally has run too hot, too fast.Hedge fund Golden Horse Fund Management has trimmed exposure and added derivative protection, while M&G Investments has cut memory and foundry holdings to broaden out down the AI supply chain. A Bloomberg Intelligence analysis of options on the iShares MSCI South Korea ETF shows investors seeking protection against a decline. The fund tumbled 14% Friday in the US.The moves highlight the challenge facing global money managers. While investors remain upbeat about Samsung Electronics Co. and SK Hynix Inc., the two chip giants that powered Kospi’s more than 90% rise this year, many are becoming pickier about where to put new money and keeping cash ready for opportunities elsewhere.Friday’s selloff in US tech stocks, driven by fears of higher interest rates, shows how quickly popular trades can unwind once sentiment shifts. That risk could spillover into Korea once local markets open.“We’ve been trimming gross exposure at the margin and layering derivative protection over the last few weeks,” said Yi Ling Ong, managing partner at Golden Horse Fund. Several large IPOs, including a SpaceX listing this month, could lead to rotation as funds raise cash to participate, making it “prudent to hold some dry powder,” she said.131561937Over the past year, Korean stocks captured global attention as a combination of the AI boom and the government’s successful corporate reform propelled the index to new highs. Strong earnings potential continues to underpin bullish sentiment, but the extended rally has led to crowding in a few major players, leaving the market vulnerable to abrupt reversals. The benchmark tumbled 7% at one point on Friday.The caution is showing up in the derivatives market.“The debate isn’t whether the Kospi story remains attractive — it’s how to stay invested without giving back a portion of the gains,” said Tanvir Sandhu, global chief derivatives strategist at Bloomberg Intelligence. Options activity in the EWY ETF suggests investors are becoming more cautious, with demand shifting from upside exposure to downside protection, he said.Some investors are looking for opportunities beyond Samsung Electronics and SK Hynix, whose meteoric rise propelled them into the $1 trillion valuation club and helped Korea briefly overtake India as the world’s sixth-largest stock market.“The alpha lies lower down the value chain — in the picks-and-shovels of the picks-and-shovels,” said Vikas Pershad, portfolio manager at M&G, referring to companies that benefit from spending on AI infrastructure without being at the heart of the trade.Not Bearish To be sure, the rotation doesn’t signal investors turning bearish on Korea. Valuations remain cheaper than in rival tech hub Taiwan and investors say the market still offers one of the strongest AI-linked stories in global equities. At 8.6 times forward earnings, the Kospi trades below its five-year average of 10 times and is much cheaper than Taiwan’s benchmark, which trades at about 20 times, data compiled by Bloomberg show.Earnings upgrade cycle has also started to broaden. Excluding Samsung and SK Hynix, the rest of the Kospi is now expected to deliver more than 50% profit growth this year, up from just 20% in January, according to Golden Horse Fund. 131561965“The speed of the rally has been vertiginous but in this type of market I would rather let the rally continue,” said Rajeev De Mello, global macro portfolio manager at Gama Asset Management SA. “Exiting now will make it very difficult to re-invest later if the market doesn’t correct.”Still, foreign outflows have become a concern. Global funds have pulled a record $76 billion this year, selling in every session over the past month. While part of the retreat is due to technical limits on single-stock holding, the selling has been absorbed by more fickle retail investors — a dynamic that may heighten volatility.At the same time, some investors are growing wary of rising retail leverage. The concern is that popularity of leveraged ETFs and the planned weekly single-stock options could amplify swings in an already-volatile market. While the products are “really interesting” and show retail participation is growing, they also leave the market “in somewhat of a precarious position in case of a reversal,” Stephane Martin, head of derivatives institutional sales for Asia at Optiver, said at a panel discussion at Bloomberg’s Volatility Forum last week. (Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)

A big lifeline for marginalised Mumbai kids

Mumbai: Beneath a busy flyover in India's financial capital Mumbai, a row of pastel-coloured shipping containers houses an unlikely school serving some of the city's most marginalised children.Despite laws guaranteeing free schooling for children aged six to 14, poverty and migration continue to keep many out of classrooms, particularly in sprawling cities like Mumbai where many families survive through low-paying informal work.Crippling urban poverty also means young children selling knick-knacks on streets are still a fairly common sight at crowded traffic intersections in big Indian cities.But the non-profit that runs the free school is determined to educate its underprivileged cohort, many of whom come from homeless families that barely eke out a living.Wedged between gleaming skyscrapers and busy roads, the "Signal Shala", or traffic signal school, caters to several dozen children who have been left out of the formal education system, according to Bhatu Sawant, founder of the initiative."These children can't go to (a regular) school. So (I thought) let's do this. Let's bring the school to them," Sawant, 45, told AFP.Also read | Major change in buyer behaviour as e-scooters race deeper into BharatIndia runs one of the world's largest public school systems, but government data for 2024-25 still identified nearly 1.2 million children as "out of school", a catch-all categorisation that covers both those who have never been to school or dropped out.Free mealsFor Sawant, India's government-run schools are simply "not flexible enough for these children", while private ones charging exorbitant fees are out of the question.The signal school operates from repurposed air-conditioned containers placed on a narrow strip of land beneath a flyover, where classes and play unfold amid the constant rumble of traffic overhead.Its approach is tailored to the realities of street life.Every morning, the school bus drives through the cramped lanes of Mumbai's slums, picking up students -- a lifeline for parents who can't afford transportation.When the children file in, the first order of business is a shower, as many have no easy access to bathing facilities.Lockers are provided for books and uniforms that otherwise cannot be kept safe or clean while living in slums or on the streets.Three meals are provided free, with school hours longer than normal.Also read | Indian tourists go viral for all wrong reasons. Here's how not to become the next horror storyClasses are split by ability rather than age, with teachers adapting lessons for children who may never have held a pencil before.Older students are also taught basic skills like sitting still, speaking clearly and staying focused.The challenges are particularly acute when it comes to kids from the semi-nomadic Pardhi community, who often do not speak the local language."When the children came here, they didn't know what the days of the week were, what the 12 months were or what the seasons were," said teacher Tejasvi Borade, as the container walls rumbled from the steady stream of cars passing above.Robotics and AIFor the students, the school serves as a sanctuary from the harshness of the real world."I feel very happy seeing the school bus," said 12-year-old Pooja Pawar, whose parents take on odd jobs at construction sites."The school clothes feel nice. The breakfast is good... In school, we make cake... and dance."For others, it represents an opportunity long denied.Balaji Laxman, who once sold tissues at traffic lights to earn a few hundred rupees -- the equivalent of several US dollars -- a day, said the classrooms represent a chance to imagine a different future."I want to become a doctor," Laxman, 12, said with a shy smile.While the school steers many children towards vocational pathways, Sawant said the broader ambition is to ensure they are not left behind in a rapidly changing world."We have to prepare them for the 21st century," said Sawant, who has set up two similar schools on the outskirts of Mumbai which have robotics labs among other facilities."They should know robotics, AI, computers, 3D printing," said the educator who relies on private and corporate donations for funding, with the government helping with the infrastructure."Everything that elite class children are doing well in, they should know all of that."

Versatile actor Salim Kumar passes away aged 57

He had been rushed to a private hospital with fever and shortness of breath in the early hours of June 6, and placed on ventilator support

535 Rajasthan farmers die of pesticide exposure in 2 years

Rajasthan's fields have become deadly, with 535 farmer deaths from pesticide exposure in two years. Despite Rs 5.1 crore in compensation, stark disparities in payouts and 189 substandard pesticide samples highlight severe safety failures. Authorities are urged to implement stricter regulations and comprehensive safety programs to prevent further tragedies.

'IAF being engaged to transport NEET papers'

Several feared trapped after house roof collapses in Telangana; rescue operations on

A house roof collapse in Marpally, Vikarabad district, has resulted in one fatality and multiple injuries, with several individuals feared trapped. Emergency services, including local administration, police, and disaster response teams, are actively engaged in a large-scale rescue operation using heavy machinery to clear debris and reach those in peril. The cause of the incident remains under investigation.

Coaching centre firing case: Khan Sir won't surrender in Patna court, says lawyer

Educationist Faisal Khan, known as Khan Sir, will not surrender in Patna Civil Court, with his lawyer stating a bail plea will be filed Monday. The case involves a June 2 attack on his coaching center, where a security guard was assaulted and property damaged. Two of Khan Sir's security guards have already been arrested.

Malviya Nagar Hotel Fire Tragedy Raises Questions Over Civic Negligence; 21 Lives Lost | News18

The devastating fire at a hotel in Delhi's Malviya Nagar has claimed 21 lives, triggering widespread outrage and raising serious questions about building safety norms, regulatory oversight, and civic accountability. As investigators continue to probe the tragedy, reports of alleged building code violations and safety lapses have intensified scrutiny of both the establishment and the authorities responsible for enforcement.The incident has sparked concerns over the safety of hotels, guest houses, and commercial establishments operating in densely populated urban areas. Families of the victims are demanding justice, while authorities face mounting pressure to identify those responsible and ensure such tragedies are not repeated. n18oc_breaking-newsn18oc_IndiaNews18 Mobile App - https://onelink.to/desc-youtube

Bar Owner Faces New Charge Over Swiss Ski Resort Fire That Killed 41

Most of those killed were teenagers, many aged 16 and under.

Delhi Fire Tragedy: Hotel Cook Arrested After Probe Finds His Negligence Led To Blaze That Killed 21

Delhi Police arrest cook of Malviya Nagar hotel for negligence after fire kills 21, including 13 foreign nationals, others detained as investigation continues

A delayed monsoon, an emerging El Nino and the long shadow of India’s Great Famine

Nearly 150 years ago, a prolonged monsoon failure triggered one of India’s worst famines which claimed at least 55 lakh lives. As scientists track changing ocean-atmosphere conditions, an uneasy question lingers: will the Super El Nino replay the script of the 1876-78 tragedy?

West Bengal: TMC defection hands Congress civic body

Trinamool has lost control of the Mekhliganj municipality in Cooch Behar after its chairman defected to Congress, bringing six councillors with him. This marks the first civic body managed by Congress since the change of government in West Bengal. The chairman cited internal conflict within Trinamool as a reason for his move.

Two killed, four injured in roof collapse at underground coal mine in Madhya Pradesh’s Shahdol

Workers were engaged in constructing a stopping wall when the incident occurred in the early morning hours, police said

Hotel owner applied for licence renewal an hour after Malviya Nagar tragedy

An hour after a fire at Hauz Rani B&B, owner Lovkesh Bajaj applied to renew a ground-floor restaurant license that had expired. The Municipal Corporation of Delhi (MCD) rejected the application, noting the establishment was operating in violation of norms. The incident highlights regulatory lapses and questions about enforcement.

Cloudburst, flashfloods damaged houses in J&K’s Reasi

Flashfloods from a cloudburst in Reasi's Bathoi village on Thursday caused significant damage to homes and blocked roads with mudslides. Fortunately, no injuries or fatalities were reported. This marks the fifth such event in the Jammu region recently. Authorities are providing immediate assistance to affected families, while adverse weather also led to the suspension of pilgrimages in Kishtwar.

He feared he couldn't compete with AI: Indian family dumps American Dream, leaves US after tragedy

Safety gaps spark another Delhi tragedy as 21 die in B&B blaze

Owner arrested for lapses; 26 rooms instead of the six allowed, no fire exit. Police say 12 foreigners among victims; most travelled to Capital for treatment

Bulldozer action in Malviya Nagar after Delhi hotel tragedy

Amid heavy security, the Municipal Corporation of Delhi (MCD) began sealing unauthorized commercial establishments in South Delhi's Malviya Nagar and surrounding areas. This action follows a deadly fire that exposed widespread violations, prompting the formation of district-level committees to inspect and seal buildings flouting fire safety norms and building bye-laws.

TCS Nashik Case: Victim Was Allegedly Pressured To Abandon Hindu Rituals & Embrace Islam | News18

Details emerging from the chargesheet in an alleged TCS conversion case. According to the chargesheet, the victim was allegedly pressured to abandon Hindu rituals, encouraged to watch Zakir Naik videos, and embrace Islam.According to the woman, the accused introduced her to Islamic teachings through videos and sermons by Pakistani cleric Tariq Jamil as well as speeches by controversial preacher Zakir Naik. n18oc_indian18oc_breaking-newsNews18 Mobile App - https://onelink.to/desc-youtube