Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
China to Inject $45 Billion Into State Financial Institutions 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
South Korea GDP Surges on Chip and AI Boom 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
China Inflation Accelerates in August as CPI, PPI Rise 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
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Asian stocks tumbled Friday, led by steep declines in Japan and South Korea, as tech shares mirrored Wall Street’s Nvidia-driven slump. Investors also assessed Tokyo’s latest inflation data ahead of the key U.S. PCE inflation report, which could influence the Federal Reserve’s rate outlook.
Japan’s Nikkei 225 dropped 3.2%, hitting its lowest since September 2024. SoftBank (TYO:9984) plunged 5.3%, while Tokyo Electron (TYO:8035) lost 5.1% and Panasonic (TYO:6752) fell 2%. South Korea’s KOSPI declined 3.1%, with Samsung Electronics (KS:005930) down 2.2% and SK Hynix (KS:000660) sinking 4.7%. India’s Nifty 50 fell 1%, and Australia’s ASX 200 slipped 1.1%.
In China, the Shanghai Composite dropped over 1%, while the Shanghai Shenzhen CSI 300 fell 0.9%. Hong Kong’s Hang Seng Index declined 2.6% but remained on track for a 15% gain in February, fueled by investor enthusiasm for DeepSeek’s AI advancements. Despite U.S. tariff concerns, Chinese tech stocks surged, with Alibaba (HK:9988) soaring 48% and Xiaomi (HK:1810) up 37% this month.
Tokyo’s core CPI rose 2.2% in February, easing from January’s 2.5% but staying above the Bank of Japan’s 2% target for the fourth month. Japan’s industrial output fell 1.1% in January, though manufacturers expect a 5% rebound in February. Meanwhile, retail sales rose 3.9% YoY, signaling steady consumer spending.
Global markets remain volatile as investors weigh inflation data, interest rate expectations, and tech sector performance.
