Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian stock markets traded in a choppy, directionless pattern on Friday as surging crude oil prices tied to escalating Middle East tensions rattled investor confidence across the region. The uncertainty followed a weak session on Wall Street, where major indices closed lower amid renewed fears that energy-driven inflation could delay Federal Reserve interest rate cuts. However, U.S. futures nudged higher during Asian trading hours, offering some relief.
Crude oil remained the central market mover after prices briefly spiked to nearly $119 per barrel on Thursday, fueled by concerns over potential supply disruptions near the Strait of Hormuz. Israeli Prime Minister Benjamin Netanyahu confirmed Israel was supporting U.S. efforts to help reopen the strategic waterway. Prices retreated from those highs but the earlier surge continued to unsettle markets, particularly in Asia where many economies are heavily dependent on oil imports.
Among regional benchmarks, South Korea's KOSPI outperformed with a 0.5% gain, buoyed by strength in the technology sector, and was on track for a weekly advance of more than 5%. Meanwhile, Singapore's Straits Times Index slipped 0.3%, and Australia's S&P/ASX 200 edged 0.2% lower. Japanese markets were closed for a public holiday, while futures linked to India's Nifty 50 rose 0.5%.
In China, the People's Bank of China held its loan prime rates steady for the tenth consecutive month, keeping the one-year rate at 3.00% and the five-year mortgage-linked rate at 3.50%, consistent with analyst expectations. Despite the predictable policy decision, Chinese equities declined, with the Shanghai Composite falling 0.3% and Hong Kong's Hang Seng dropping 0.7%. Alibaba shares led losses in Hong Kong, tumbling 5% after the e-commerce giant reported a profit decline attributed to heavy investment spending and sluggish online retail performance.
Global investor sentiment remained cautious following the Federal Reserve's latest signals that persistent oil price inflation could push back the timeline for monetary easing, prompting markets to scale back near-term rate cut expectations.
