Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
China Inflation Accelerates in August as CPI, PPI Rise 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
China to Inject $45 Billion Into State Financial Institutions 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
China Boosts Gold Reserves by 650,000 Ounces as Prices Rally 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Asian Stocks Mixed as Korean Chipmakers Rally 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
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Asian markets mostly declined on Wednesday, echoing Wall Street’s weak overnight performance as hotter-than-expected U.S. inflation data and renewed trade tariff threats from President Donald Trump rattled investor sentiment. Most indexes across the region slipped, weighed down by concerns over prolonged Federal Reserve rate hikes and global trade tensions.
Mainland Chinese markets underperformed after a mixed Q2 GDP report fueled fears of an extended economic slowdown. The Shanghai Composite and CSI 300 both dipped 0.2%. However, Hong Kong’s Hang Seng Index defied the regional trend, rising up to 0.8% on strong gains in tech stocks. Optimism surged after Nvidia (NASDAQ:NVDA) confirmed it would resume sales of its sought-after AI chips in China, sparking rallies in local AI giants like Baidu (NASDAQ:BIDU), Alibaba (NYSE:BABA), and Tencent.
Baidu further gained momentum with a 3% jump in its Hong Kong shares (HK:9888) following news of a global robotaxi partnership with Uber Technologies Inc (NYSE:UBER). Analysts say access to Nvidia’s chips could significantly boost China’s AI capabilities through leaders like ByteDance and DeepSeek.
Still, broader gains were limited due to economic worries from the mainland. Across Asia, Japan’s Nikkei 225 and TOPIX both fell 0.2%, while South Korea’s KOSPI declined 0.7%. Australia’s ASX 200 slid 0.9% on profit-taking near record highs. Singapore’s Straits Times edged slightly higher, and India’s Gift Nifty 50 Futures remained flat.
U.S. CPI data reinforced concerns over inflationary pressure from Trump’s trade policies, with the S&P 500 Futures down 0.1% in Asian trade. Trump’s latest move includes imposing 25% tariffs on imports from South Korea and Japan starting August 1, and a 19% duty on Indonesia, raising fears of escalating trade tensions across Asia.
