South Korea's ruling party wins most races in local elections but loses the crucial Seoul contest

The article says Meta is unwinding its Manus AI deal after a China-related order, indicating tighter global scrutiny of such arrangements. It notes that the decision affects the status of the partnership and could influence investors’ views on Meta’s international AI strategy and regulatory risk.

US stocks rose after President Donald Trump said talks with Iran were approved at the highest Iranian leadership level and that a signing’s time and place will be announced. S&P 500 +1.3%, Dow +1.6%, Nasdaq +1.8%. Oil fell: WTI -2.8% to $87.56, Brent -3.5% to $89.84. ASX futures pointed to a 1.2% open gain.

U.S. stocks rose and oil fell after President Donald Trump said on social media that discussions with Iran were approved at Iran’s highest leadership level and that a signing’s time/place would be announced. The S&P 500 gained 1.3%, the Dow 1.6%, and the Nasdaq 1.8% by 2 p.m. ET. U.S. crude fell 2.8% to $87.56 and Brent 3.5% to $89.84. The article links lower oil to easing inflation pressure and reduced odds of Fed hikes, while AI-related stock swings also drove market volatility.

Meta Platforms has completed an operational split from Manus, stopping data sharing between the two, according to people familiar with the matter cited by Bloomberg. Meta barred Manus staff from accessing its internal systems and told employees to stop using Manus tools for internal projects. The moves follow Beijing’s April demand to unwind Meta’s US$2 billion acquisition.

Nio said the Trump administration’s decision to label it a Chinese military company on the Pentagon’s CMC list is “not justified” and that it will seek to correct the listing, including possible legal action. Nio denied any military ties. The article also cites May delivery growth: Nio 37,705 vehicles (+62.3% YoY) and Tesla 47,821 retail sales (+22.6% YoY). NIO premarket rose 3.17% to $5.53.

Reports citing U.S. Central Command (CENTCOM) say American forces intercepted four Iranian drones allegedly headed for the Strait of Hormuz and struck coastal radar sites in Goruk and on Qeshm Island to protect commercial and military vessels. Iran’s navy said it fired warning shots at U.S. assets; CENTCOM denied this. Trump and U.S. officials linked any resolution to lower fuel prices, while investors track oil and defense stocks.