US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
South Korea GDP Surges on Chip and AI Boom 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
China Inflation Accelerates in August as CPI, PPI Rise 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
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Asian stock markets traded mostly lower on Friday, weighed down by weak Japanese GDP data and a steep decline in Alibaba shares, while Australian equities outperformed on rate cut hopes.
Japan’s Nikkei 225 fell 0.5% and the TOPIX dropped 0.3% after data showed the economy contracted 0.7% year-on-year in Q1, far worse than the expected 0.2% drop. Sluggish exports and weak consumer spending contributed to the decline, although the weak data fueled expectations the Bank of Japan will maintain accommodative policy.
Hong Kong’s Hang Seng index led regional losses, falling over 1%, driven by a sharp 7.5% slide in Alibaba Group (NYSE:BABA, HK:9988) following a Q4 revenue miss and weaker-than-expected cloud business performance. JD.com (HK:9618) also declined nearly 2% as earnings highlighted fragile Chinese consumer sentiment amid persistent disinflation.
Despite Friday’s drop, Chinese and Hong Kong markets remained higher for the week, buoyed by optimism over a temporary U.S.-China tariff rollback. However, sentiment faded as investors awaited a more concrete resolution to trade tensions.
Mainland indexes also declined, with the CSI 300 and Shanghai Composite shedding 0.8% and 0.6% respectively. South Korea’s KOSPI was flat, while Singapore’s STI dipped 0.2% even after strong export data.
In contrast, Australia’s ASX 200 rose 0.6%, hitting a two-month high amid expectations that the Reserve Bank of Australia will lower interest rates next week.
India’s Nifty 50 Futures pointed to a muted open after the index touched a seven-month high earlier in the week.
While U.S. stock futures remained slightly negative, Asian equities were on track for weekly gains, supported by easing trade fears and dovish central bank expectations.
