Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
China Expands Influence in Global Gold Market 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Jefferies Names 6 Top India Stock Picks Across Key Sectors 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
UK House Prices Fall for First Time Since 2023 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Asian Stocks Mixed as Korean Chipmakers Rally 
China to Inject $45 Billion Into State Financial Institutions 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
South Korea GDP Surges on Chip and AI Boom 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
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Asian financial markets moved cautiously on Tuesday in thin Lunar New Year trading, while oil prices climbed ahead of renewed U.S.-Iran nuclear negotiations in Geneva. Several major regional exchanges, including mainland China, Hong Kong, Singapore, Taiwan, and South Korea, remained closed for the holiday. U.S. markets were also shut on Monday for Presidents’ Day, contributing to lighter global trading volumes.
Japan’s Nikkei index slipped 0.5%, while the broader Topix fell 0.2% to 3,779.29. In contrast, Australia’s S&P/ASX 200 gained nearly 0.5%. U.S. stock futures were mixed in early Asian trading, with Nasdaq futures edging down 0.1% and S&P 500 futures up 0.2%.
Bond markets reflected a cautious tone. The benchmark 10-year U.S. Treasury yield dipped 1 basis point to 4.044%, its lowest level since early December. Japan’s five-year government bond yield declined 2 basis points to 1.65%, the lowest since February 2. Meanwhile, the U.S. dollar index held steady at 97.07 after a modest overnight gain. The Japanese yen strengthened 0.15% to 153.28 per dollar.
Japan’s weaker-than-expected fourth-quarter GDP weighed on sentiment. The economy expanded at an annualized pace of just 0.2%, well below forecasts of 1.6%, largely due to reduced government spending. Analysts suggest the disappointing data may increase pressure on Prime Minister Sanae Takaichi to pursue additional fiscal stimulus, including potential sales tax reductions. Market pricing indicates limited expectations for a Bank of Japan rate hike in March, with most economists projecting policy tightening later in July.
Oil markets gained momentum as investors monitored geopolitical risks. U.S. West Texas Intermediate crude rose 1.29%, while Brent crude increased 1.33%. Tensions remain elevated after Iran’s Revolutionary Guards conducted drills in the Strait of Hormuz, a key route for roughly 20% of global oil shipments. Traders are closely watching developments in U.S.-Iran talks and Ukraine negotiations, as any easing of tensions could reduce the geopolitical risk premium in oil prices.
Precious metals retreated, with gold falling 0.85% to $4,949.5 per ounce and silver down 2%, pressured by a firmer U.S. dollar.
