Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Asian Stocks Mixed as Korean Chipmakers Rally 
China to Inject $45 Billion Into State Financial Institutions 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Add as a preferred source on Google
Asian stocks edged higher on Wednesday, supported by South Korea's political shift and optimism in tech stocks, even as global markets remain tense over escalating U.S. tariffs on steel and aluminium.
South Korea's KOSPI surged over 2%—its highest since August 2024—following liberal candidate Lee Jae-myung’s presidential win, which raised hopes for swift economic stimulus and regulatory reforms. The Korean won also strengthened, reflecting investor confidence. MSCI’s Asia-Pacific index excluding Japan rose 0.6%, while Japan’s Nikkei gained 0.8% and Taiwan climbed 1.6%, buoyed by Nvidia’s rally on Wall Street.
Market sentiment, however, remained cautious ahead of a potential call between U.S. President Donald Trump and Chinese President Xi Jinping. Tensions have resurfaced after Trump accused China of violating a tariff rollback deal. In response, Beijing pledged to defend its interests.
China’s markets were muted, with the blue-chip index up 0.09% and Hong Kong’s Hang Seng gaining 0.27%. Analysts warned that despite investor fatigue over trade news, further escalation could drive risk aversion.
Adding to market concerns, the U.S. implemented a tariff hike on steel and aluminium to 50% starting Wednesday, dubbed “Liberation Day” tariffs. Investors fear these could be a precursor to broader protectionist measures. The OECD revised its global growth forecast down to 2.9% for 2025–2026, citing the impact of trade tensions.
The U.S. dollar weakened, slipping 0.17% against the yen and 0.1% against the Swiss franc, while the euro rose 0.15%. The dollar index hovered near a six-week low, down 8.5% year-to-date.
In commodities, Brent crude dipped to $65.59, while gold jumped 0.5% to $3,369.59 per ounce, up 28% in 2025, driven by safe-haven demand.
