☕️ School stabbing trial begins, 15-year-old accused faces death penalty, decades in prison

1. MARKET SUMMARY 📈

2. NUMBERS AT A GLANCE 🔢

7 years – That’s how many years of updates the iPhone 11 is set to receive, according to Apple’s announcement in early Jun. When iOS 27 arrives this fall, older iPhones will get access to an advanced CPU scheduler, a system already available on newer models that helps manage a phone’s workload. The announcement confirmed that the iPhone 11 will also receive this update. In comparison, Google’s Pixel 4 and 4 XL, along with Samsung’s Galaxy S10, which were released around the same time as the iPhone 11, only received 3 years of platform updates, according to Android Authority.

3.2 quadrillion – As of May 2026, Google processes that many AI tokens each month, up from 480 tril a year ago and 9.7 tril in May 2024. These tokens are the core unit of use in generative AI and can represent anything from part of a word to a short phrase within a query. The number was shared by Google CEO Sundar Pichai, who also shared that AI Mode in Google Search has more than 1 bil monthly active users, while AI Overviews has over 2.5 bil monthly active users. Google’s Gemini app topped 900 mil monthly active users, while Search, Gmail, Android, Chrome, and YouTube now have more than 3 bil users each.
Learn: What is a token in AI?

15 basis points – That was the reported increase in sessions on Instagram for the second quarter of 2026. Meta CEO Mark Zuckerberg confirmed that this was a double-digit growth year over year, which was largely driven by improvements to the company’s feed and Reels recommendations. The growth was also strong in reshares and time spent, which are both strong indicators of better content-to-user matching. Zuckerberg said that recommendations are trained by automatically feeding every public Reel and post on Instagram to a large language model and analysing them for topics and tone, which are key building blocks toward greater personalisation. 0.15% might not seem like much, but then you remember the scale they are working with.

3. IN MALAYSIA 🇲🇾

Transport & consumer:
Digital licence not enough overseas: Malaysia's digital driving licence may be convenient at home, but motorists travelling overseas should not leave the physical card behind. A recent fact-check has confirmed that the e-LMM (electronic Malaysian Driving Licence) displayed on the MyJPJ app is recognised only for enforcement within Malaysia and cannot be used as a substitute for a physical driving licence in countries such as Thailand. The reminder comes after a Malaysian driver was reportedly fined THB1,000 (RM121) after Thai police rejected the digital version during a roadside check.

Transport Minister Anthony Loke said driving regulations are governed by each country's own laws, meaning Malaysia cannot require foreign authorities to recognise its digital system. Thailand has also clarified that drivers must present a valid physical driving licence when requested. The Road Transport Department has since advised Malaysians travelling abroad by road to obtain a printed licence before crossing the border. Since Jan 2026, motorists have been able to apply for a physical licence at any JPJ branch or Urban Transformation Centre (UTC) for RM20 without having to provide proof of overseas travel.

Axia gets cheaper: Perodua has reduced the price of its Axia by up to RM4,700, making Malaysia's most affordable car even more accessible. The biggest reduction applies to the Axia 1.0G (~12% savings from RM38.6k), while the 1.0X, 1.0SE and 1.0AV have also received price cuts. The revised pricing takes effect immediately across Peninsular and East Malaysia. Perodua said the reductions were made possible through improved operational efficiency and closer collaboration with local suppliers, with no changes to the car's specifications or quality. The company added that the savings are being passed directly to customers as part of its efforts to help ease the rising cost of living.

In the courts:
School stabbing trial begins: The murder trial over the fatal stabbing of a Form Four student at SMK Bandar Utama Damansara (4) has begun at the Shah Alam High Court, nearly a year after the incident shocked the nation. The accused is a 15-year-old boy charged with killing his 16-year-old schoolmate, Yap Shing Xuen, in the girls' toilet between 9.20am and 9.35am on Oct 14, 2025. As the accused is a minor, his identity remains protected and proceedings are being held in camera. The trial is expected to run for eight days, with the prosecution calling 11 witnesses, including the pathologist who conducted the post-mortem examination, the victim's mother and several teachers from the school. Three child witnesses aged between 13 and 17 will also testify under the Evidence of Child Witness Act 2007. Learn more about Fit to Stand Trial here.

A three-month psychiatric assessment concluded that the teenager is fit to stand trial. While the offence carries the death penalty, or between 30 and 40 years' imprisonment with 12 strokes of the rotan upon conviction, the Child Act 2001 prohibits the execution of offenders who were minors at the time of the offence. Instead, any conviction would result in detention at the pleasure of the Yang di-Pertuan Agong or the respective state Ruler. The case remains one of Malaysia's most closely watched juvenile criminal trials, with proceedings expected to continue over the coming days.

Najib faces 1MDB civil trial: The long-awaited civil trial involving former PM Najib Razak and the 1MDB scandal has begun, with 1MDB alleging that USD5.64 bil (RM23.10 bil) was misappropriated through fraudulent transactions carried out in four phases. Lawyers for 1MDB claim the losses eventually reached RM51.4 bil and accuse Najib of abusing his positions as PM, finance minister and chairman of 1MDB's board of advisers to facilitate the scheme. The suit, filed in 2021, seeks to recover losses and hold Najib and several former 1MDB officials accountable. The trial is expected to hear testimony from former chief executive Shahrol Azral Ibrahim Halmi and other key witnesses.

Politics:
Mujahid hits out after defeat: The fallout from the Negri Sembilan election continues, with Amanah deputy president Mujahid Yusof blaming the result on what he described as the growing influence of racial and religious identity politics. He argued that many voters chose emotion over the unity government's performance, allowing Barisan Nasional and Perikatan Nasional to secure a two-thirds majority and end Pakatan Harapan's eight-year administration in the state. The election also saw several high-profile defeats, including caretaker Menteri Besar Aminuddin Harun in Linggi and DAP secretary-general Anthony Loke in Chennah. Mujahid was particularly critical of BN, accusing the party of working with PN during the state election despite being part of the federal unity government with PH. He said the arrangement confused voters and undermined the coalition's message, adding that PH must now reassess its strategy and rebuild public confidence before the next general election.

Bankruptcy claim under investigation: In Selangor, investigations are continuing into claims that a state assemblyman has been declared bankrupt, although Speaker Lau Weng San said it is still too early to draw conclusions and he had not confirmed which assemblyman was being investigated. If the allegations are proven, the Election Commission will decide whether a by-election is required. Lau also clarified that an assembly seat cannot simply be declared vacant because a representative misses a sitting. Under the Selangor State Constitution, a seat can only be vacated if the assemblyman fails to attend proceedings for six consecutive months without formal permission. He pointed to the case of former Batang Kali assemblyman Harumaini Omar, whose seat was declared vacant on Feb 16, 2023, after being absent for more than six months without notice.

4. AROUND THE WORLD 🌎

South Korea
South Koreans blame government as KOSPI tanks
When in doubt, blame the government. At least that’s how South Korean traders and investors are handling the current KOSPI rout. In late May, almost everyone thought President Lee Jae Myung’s stock-market reform, which included single-stock leveraged exchange-traded funds (ETFs), was going to help increase gains. What could go wrong? The country was riding a historic bull run due to the AI boom, which included its big AI companies — Samsung and SK Hynix. Investors could borrow money from brokers on top of their own to bet on single-stock leveraged ETFs. Mom-and-pop traders piled in about KRW78 tril (RM224 bil). That was fine as long as the good times kept rolling, until they didn’t.

You see, the problem with leveraged bets is that the broker who lent you the money to speculate could forcibly sell your position - this is called a margin call - if it thinks you can’t cover the losses you have incurred. Then, it will ask you to pay them back the money you borrowed. In Jul, Samsung’s share price crashed by 21%, SK Hynix by 35%. Many traders and investors got margin-called or caught with their pants down (in this case, wallet down). Trading in KOSPI stocks was stopped four times in Jul for circuit breaker suspensions. A circuit breaker is an emergency measure to temporarily halt trading if the market drops too much.

Now, investors are blaming the authorities for introducing single-stock leveraged ETFs and that ‘they turned the stock market into a casino’ and ‘put fuel into the fire’. They now have two rules engraved in stone:

First rule: Don’t invest in the Korean stock market
Second rule: Follow the first rule

Levies increased on high-value SK homes
Right after the debacle in the stock markets, South Korea is turning its eyes on the property market. It has recently proposed a property tax overhaul that would increase taxes on high-value homes and investment properties to curb property speculation. The housing market has seen very high gains due to speculation. Houses above the KRW3 bil (RM8.5 mil) threshold would face higher holding taxes. The government has tried to impose stricter mortgage rules and accelerate home construction to bring home price growth down. But that has not worked. Now, it plans to introduce higher comprehensive real estate taxes through 2028, while temporarily easing capital-gains tax to encourage owners of multiple homes to sell their properties. Houses tend to be very ‘sticky’ as it takes some time for government policies to take effect and for homeowners to react to them.

Entertainment:
Spider-Man’s near-USD1 bil global opening weekend
Tom Holland and Zendaya (and their employers) are probably laughing themselves to the bank. Spider-Man: Brand New Day opened to a whopping USD927 mil (RM3.8 bil) globally, only behind Avengers: Endgame's global opening of USD1.2 bil. Marvel Studios is probably relieved that the movie received such positive sales momentum, as Marvel films since Endgame have broadly disappointed and didn’t have the same crowd-puller effect.

In North America, the movie raked in USD335 mil, while China took in USD121 mil. Spider-Man is one of their most lucrative franchises, with No Way Home making nearly USD2 bil in sales. This actually bodes well for the highly-anticipated Avengers: Doomsday due to be released at the end of the year. In recent years, viewers have increasingly shifted from the cinemas to streaming services such as Netflix. However, in 2026, cinemas made a comeback with box office takings on track to pass USD10 bil for the first time since 2019.

Netflix sued for USD105 mil for losing a master copy
Real life imitates art. Netflix is being sued by screenwriter and Swiss billionaire Simon Afram for USD105 mil (RM430 mil) for losing physical drives containing a spy thriller starring Nicolas Cage and directed by Simon West. Apparently, Netflix received the unencrypted master copy by hand in its Hollywood offices. Netflix bosses successfully screened the film on June 16, but nine days later, Netflix Original Film executive Sean Berney sent an embarrassing email that the copy had been stolen straight off an office desk. This was probably done by thieves to sell for scrap metal. Netflix attempted to reimburse the cost of the missing physical drive and produce a fresh one, but Afram was so offended that he initially threatened to sue for up to USD165 mil. He is probably worried that the movie could be leaked online. Netflix fiercely hit back, labelling the demands as hostile extortion. The movie took seven years to make, and cost around USD45 mil.

US props up the yen to save its treasury bills
The yen is in a rough patch. And the US has decided to work with Japan to buy up the yen to support it. It was a rare move by the US. It did so 15 years ago. The coordinated intervention in the market triggered a squeeze in traders who were betting that the yen was going to fall further. US Treasury Secretary Scott Bessent was direct with his concerns about the yen. Why is the US doing so? Definitely for its self-interest, not kindness. Japan is currently the biggest foreign holder of US government debt. If the yen keeps weakening, Japan might sell off its US government debt to buy Japanese yen on the market to prop the currency up. The US does not want Japan to sell its debt in large volumes over short periods of time, as this could increase its government bond yields, making US government borrowing more expensive. You can view the official top holders of US Treasuries here. Or, bluntly put, the top creditors the US is owing money to.

The US Federal Reserve has said that its FIMA repo facility allows foreign central banks to borrow dollars without selling US government bonds. Japan said that it plans to use the facility for future interventions. However, this could be a short-term measure. What needs to happen is for the Bank of Japan to increase its interest rates to keep the yen from weakening further. However, that could mean that Japanese Prime Minister Sanae Takaichi would have problems funding her government policies, as interest rates on government bonds increase, making borrowing more expensive. Tough spot to be in.

5. FOR YOUR EYES 📺

Interesting Fruit Knowledge

1. How to eat mangosteen - jantan tak guna.

2. The health benefits of the zero-calorie, natural sweetener - luo han guo (aka monk fruit), native to southern China.

3. Linaco - the RM500 mil per year coconut business, processing 500,000 coconuts a day. Site here.