Asian Stocks Mixed as Korean Chipmakers Rally 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
China to Inject $45 Billion Into State Financial Institutions 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
UK House Prices Fall for First Time Since 2023 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
South Korea GDP Surges on Chip and AI Boom 
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Asian markets started the week strong, buoyed by a weaker dollar, China's ongoing recovery, and a shift from U.S.-centric trades. Japan's Q4 GDP data, expected to show 1.0% annualized growth, is a key focus, with business investment offsetting weak consumption.
The dollar hit a two-month low due to delays in U.S. tariff implementations, marking its longest losing streak since August. Emerging market currencies are rising against the greenback, except for the Indian rupee. The MSCI Asia ex-Japan index surged 8% over the past month, while Hong Kong's Hang Seng jumped 20%, and its tech index soared 30%.
China's tech giants Baidu, Alibaba, Tencent, and Xiaomi (BATX) have gained 22% since Trump's inauguration, outperforming America's 'Magnificent Seven,' which remained flat. Analysts highlight that BATX's $1 trillion market cap pales in comparison to the Mag Seven's $17 trillion, indicating potential growth if China continues excelling in AI.
Taiwan Semiconductor Manufacturing Co and Broadcom are reportedly exploring deals that could split Intel, further shaking up the global chip industry. Geopolitical tensions in the Russia-Ukraine war remain in focus as French President Macron hosts an emergency European summit, with peace talks seemingly limited to the U.S. and Russia. Prospects of peace are driving oil and the dollar lower while boosting European and Asian stocks.
Key upcoming data include Japan and Thailand's Q4 GDP figures, which could further influence market trends. Investors are keenly watching these developments as Asian markets continue their upward trajectory.
