Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
China’s Small Bank Consolidation Struggles as Profits Fall and Risks Persist 
ASX Shares Slide After ASIC Imposes A$150 Million Capital Requirement 
South Korea Extends Bond Market Stabilization Measures Amid Rising Financial Risks 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
U.S. Dollar Slides for Third Straight Week as Rate Cut Expectations Boost Euro and Pound 
Korea Zinc Plans $6.78 Billion U.S. Smelter Investment With Government Partnership 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
China’s November Economic Data Signals Slowing Industrial Output and Weak Consumer Demand 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Fed Rate Cut Signals Balance Between Inflation and Jobs, Says Mary Daly 
Oil Prices Rebound as U.S.-Venezuela Tensions Offset Oversupply Concerns 
Gold Prices Dip as Markets Absorb Dovish Fed Outlook; Silver Eases After Record High 
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.
