Asian Currencies Mixed as Yen Rallies on BOJ Bets 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
South Korea GDP Surges on Chip and AI Boom 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
China to Inject $45 Billion Into State Financial Institutions 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Brent Oil Tops $100 as Middle East Conflict Threatens Supply 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
China Inflation Accelerates in August as CPI, PPI Rise 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
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Most Asian stocks fell on Thursday, mirroring steep losses on Wall Street as fears over the U.S. economy and mounting government debt rattled investor sentiment. Technology shares led the decline, tracking losses in U.S. peers amid rising Treasury yields and renewed trade tensions.
South Korea’s KOSPI dropped 1.2%, and Hong Kong’s Hang Seng fell 0.5%, dragged by tech sell-offs. Investors trimmed exposure after U.S. yields surged, pressuring valuations in the rate-sensitive sector. Negative sentiment deepened following China’s sharp criticism of tightened U.S. chip export controls, which Beijing said violated a recent trade truce. Nvidia CEO Jensen Huang also slammed the restrictions as a policy failure.
Chinese tech stocks slumped, with Baidu Inc. shedding nearly 3% despite beating Q1 earnings forecasts, and Contemporary Amperex Technology losing 2% after a strong Hong Kong debut. Meanwhile, U.S. fiscal concerns worsened after Moody’s downgraded the country’s credit outlook, amplifying fears over rising debt linked to a pending tax cut bill.
Japanese markets also slid, with the Nikkei 225 down 0.9% after PMI data showed sustained weakness in manufacturing and a sharp slowdown in services. Japan’s composite PMI dipped into contraction, highlighting export struggles tied to U.S. tariffs.
Australia’s ASX 200 lost 0.5% on weak services PMI data, while Singapore’s Straits Times index also fell 0.5% despite slightly better-than-expected Q1 GDP growth. India’s Nifty 50 futures pointed to a flat open ahead of local PMI releases.
China’s CSI 300 and Shanghai Composite bucked the trend with modest gains amid hopes of further economic stimulus. Still, overall risk appetite in Asia remained subdued, weighed by global uncertainties and profit-taking in high-growth sectors.
