Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Asian stock markets advanced on Thursday, buoyed by a renewed rally in U.S. technology shares, while geopolitical tensions between the United States and Iran supported oil prices and sustained safe-haven demand for gold. Investors also reacted to the latest Federal Reserve meeting minutes, which signaled policymakers are not in a hurry to cut interest rates.
Trading activity in Asia was lighter than usual due to Lunar New Year holidays in Hong Kong, China, and Taiwan. However, MSCI’s broad Asia-Pacific index outside Japan climbed 0.5%, and Japan’s Nikkei gained 0.85%, led by strong performances in technology stocks. South Korea’s Kospi surged nearly 3% to a record high, reflecting growing investor confidence in the tech sector.
The positive momentum followed gains on Wall Street, where Nvidia shares jumped after announcing a multiyear agreement to supply Meta Platforms with millions of artificial intelligence chips. The deal boosted sentiment across global tech stocks, with Nasdaq futures rising 0.05% and S&P 500 futures edging 0.03% higher. Analysts noted that Nvidia’s leadership in AI technology could provide fresh support for the sector ahead of its upcoming earnings report.
In commodities, oil prices remained elevated after sharp gains in the previous session. Brent crude hovered around $70.31 per barrel, while U.S. West Texas Intermediate crude held near $65.10. Markets are closely monitoring escalating U.S.-Iran tensions, which could disrupt global oil supply. Meanwhile, gold steadied at $4,963.99 per ounce as investors sought safe-haven assets amid geopolitical uncertainty.
The U.S. dollar strengthened following robust economic data and Federal Reserve minutes indicating that rate cuts are unlikely in the near term. Policymakers even signaled openness to further rate hikes if inflation persists. Sterling slipped to $1.3488, the yen remained near 155 per dollar, and the euro traded below $1.18, pressured by reports that European Central Bank President Christine Lagarde may leave her post early.
