Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Dollar Holds Steady Ahead of U.S. CPI as Oil Surge, Middle East Tensions Keep Markets on Edge 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Asian stocks traded on shaky ground on Wednesday as global markets digested sharp losses in U.S. and European equities, driven by growing fears that rapid advances in artificial intelligence could disrupt traditional software and professional services industries. While selling pressure was milder in Asia, the cautious tone reflected broader uncertainty around the future impact of AI on global growth and corporate earnings.
MSCI’s Asia-Pacific shares outside Japan slipped 0.2%, while Japan’s Nikkei dropped 1.23%. South Korea’s technology-heavy KOSPI edged down 0.14%, and Taiwan stocks fell 0.68%. Nasdaq futures declined 0.25% after a steep overnight loss, with S&P 500 and EUROSTOXX 50 futures also slightly lower. Analysts noted that Asia was relatively insulated, given its stronger exposure to hardware manufacturing rather than software-centric business models.
Investor anxiety intensified after Anthropic launched new plug-ins for its Claude Cowork agent, fuelling concerns of AI-driven disruption across data analytics, software, and consulting firms. Market strategists highlighted that the “AI trade” is increasingly dividing between winners and losers, rather than lifting the entire technology sector.
In commodities, oil prices climbed as geopolitical tensions resurfaced in the Middle East. Brent crude rose 1% to $68.03 a barrel, while U.S. crude gained 1.1% to $63.90. The move followed reports that the U.S. military shot down an Iranian drone near an aircraft carrier and that Iranian boats approached a U.S.-flagged tanker in the Strait of Hormuz, a critical oil shipping route for Asia.
Precious metals rebounded after a recent selloff, with spot gold rising 1.5% to $5,014 an ounce and silver gaining 1.7%. The earlier rout was triggered by expectations that a more hawkish Federal Reserve, under nominee Kevin Warsh, could shrink its balance sheet, pressuring non-yielding assets.
Currency markets were steadier, with the dollar pausing its rally. The yen weakened past 156 per dollar ahead of Japan’s election, while the euro and sterling held firm. Bitcoin hovered near multi-month lows as investors reassessed risk amid shifting Fed expectations.
