Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Asian Currencies Hold Steady as Middle East Tensions Offset Weaker US Dollar 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
South Korea Raises Interest Rates to 2.75% as Inflation and Weak Won Drive Tightening 
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 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Asian Stocks Slide as Chip Selloff Deepens Ahead of TSMC Earnings 
U.S. Imposes 25% Tariff on Select Brazilian Imports After Section 301 Trade Investigation 
Most Asian stocks retreated on Friday amid profit-taking in the technology sector, while South Korea’s benchmark surged to new highs following a week-long holiday. The regional downturn mirrored Wall Street’s overnight pullback, as the tech rally paused and the U.S. government shutdown delayed key economic data.
S&P 500 futures gained 0.2% in Asian trading, supported by persistent expectations of an October rate cut by the Federal Reserve. Optimism over a ceasefire between Israel and Hamas also buoyed sentiment.
In Japan, the Nikkei 225 dropped 1% and the broader TOPIX index slid 1.7%, both retreating from record levels. Tech giant SoftBank Group (TYO:9984) led losses with a 3.4% drop, following a stronger-than-expected producer price inflation reading for September. The data raised concerns that the Bank of Japan may hike rates sooner, despite likely political resistance from the incoming Prime Minister Sanae Takaichi, known for her dovish fiscal stance. Japanese markets had rallied earlier in the week on her election as the ruling Liberal Democratic Party’s new leader.
Chinese stocks also slipped, with the CSI 300 down 0.5% and the Shanghai Composite off 0.2%. Hong Kong’s Hang Seng index fell nearly 1%, dragged by losses in tech and biotech shares. Semiconductor Manufacturing International Corp (HK:0981) tumbled 5.2%, while WuXi AppTec (HK:2359) and WuXi Biologics (HK:2269) dropped up to 3% after U.S. lawmakers advanced a bill restricting investments in Chinese biotech firms.
Elsewhere, Singapore’s Straits Times Index fell 0.2%, while Australia’s ASX 200 remained flat. India’s Nifty 50 futures rose 0.2% ahead of key tech earnings.
South Korea’s KOSPI was the standout performer, rallying 1.5% to a record 3,617.86. The surge came as chipmakers SK Hynix (KS:000660) and Samsung Electronics (KS:005930) soared 6.6% and 5.1%, respectively, on optimism over new processor supply deals with OpenAI, signaling robust growth prospects for the semiconductor sector.
