Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
UK House Prices Fall for First Time Since 2023 
China Inflation Accelerates in August as CPI, PPI Rise 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
ECB Set for September Rate Hike as Energy Prices Fuel Inflation 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
South Korea GDP Surges on Chip and AI Boom 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
China to Inject $45 Billion Into State Financial Institutions 
Add as a preferred source on Google
Asian stocks tumbled on Tuesday, driven by a sharp decline in technology shares ahead of Nvidia's highly anticipated earnings. Hong Kong’s Hang Seng index led losses, dropping 2% as investors took profits after a strong tech-driven rally. Japan’s Nikkei 225 fell 0.9%, while Taiwan Semiconductor Manufacturing Co. (TSMC), a key Nvidia supplier, slid 1.4%, dragging the Taiwan Weighted index lower.
Investor caution intensified following a Bloomberg report that the Biden administration may tighten restrictions on chip exports to China. This came after former U.S. President Donald Trump vowed to increase scrutiny on Chinese investments in critical U.S. sectors, escalating trade tensions. Concerns over Trump's proposed 25% tariffs on Canadian and Mexican imports also weighed on sentiment.
China’s markets struggled as the Shanghai Shenzhen CSI 300 and Shanghai Composite declined 0.9% and 0.5%, respectively. The initial boost from China’s AI-driven optimism faded, particularly after the January debut of DeepSeek.
South Korea’s KOSPI fell 0.4%, cushioned by the Bank of Korea’s 25-basis-point rate cut, marking the third easing in its current cycle. However, major tech stocks still faced pressure, with chipmaker SK Hynix sliding 2.2%.
Australia’s ASX 200 lost 0.6%, extending its retreat from record highs, while Singapore’s Straits Times index remained flat after lower-than-expected inflation data. Indian markets also pointed to a weak open amid growing losses.
Meanwhile, Japan’s TOPIX shed 0.2%, but gains in trading houses, fueled by Warren Buffett’s investment in Itochu, Marubeni, Mitsui, Sumitomo, and Mitsubishi, helped limit losses.
With Nvidia set to report earnings Wednesday, investors remain on edge, watching for signals on AI-driven demand in the tech sector.
