Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
U.S. Stock Futures Steady as Oil Tops $100 Ahead of Inflation Data 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
ECB Rate Hike in Focus as Oil Tops $100 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Fitch Eyes Japan Budget for Fiscal Discipline 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
German Inflation Accelerates to 2.9% in August 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Gold Prices Rise as Yen Rally Weakens Dollar 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
South Korea GDP Surges on Chip and AI Boom 
Asian Currencies Steady as Yen Holds Firm, Oil Tops $100 
Add as a preferred source on Google
Asian Markets Hit by Tech and Luxury Slowdown
Asian equities tumbled on Wednesday following disappointing earnings from European tech giant ASML and French luxury firm LVMH. These underwhelming results shook investor confidence, with key Asian stock indices in the red.
South Korea's tech-heavy index fell 0.6%, while Japan's Nikkei dropped 1.8%, led by chip stocks. Taiwan's stocks slipped 1.2%, contributing to a 0.32% decline in MSCI’s broadest index of Asia-Pacific shares outside Japan.
ASML Earnings Disappoint, Chip Stocks Hit Globally
ASML, a major supplier to chipmakers like TSMC, Intel, and Samsung, reported lower-than-expected sales forecasts for 2025. Despite a boom in AI-related chips, other semiconductor sectors remain weak, causing customer caution.
“The ASML numbers were not good, signaling broader issues in the semiconductor market outside of AI,” said Nick Ferres, CIO at Vantage Point Asset Management.
China’s Luxury Demand Falters
French luxury brand LVMH also reported declining demand in China, further dampening optimism around China’s stimulus measures. Investors are now closely watching China’s upcoming announcement on property sector policies, hoping for more robust action to stabilize growth.
U.S. Dollar Strengthens on Fed Rate Expectations
In the U.S., shifting expectations regarding the Federal Reserve's interest rate cuts have buoyed the dollar. The U.S. dollar index hovered near its highest levels since August, driven by speculation of a 25 basis point rate cut in the coming months.
Oil Prices Steady Amid Middle East Uncertainty
Oil prices remained steady after recent declines, with Brent crude rising 0.4% to $74.56 per barrel, and U.S. West Texas Intermediate up 0.5% at $70.93, as markets remained uncertain about Middle East tensions and global supply risks.
