China PMI Falls Into Contraction as Manufacturing, Services Weaken in July 
Asian Stocks Rebound as SK Hynix Earnings Calm AI Fears, Oil Surges Ahead of Fed Decision 
US Dollar Slips Ahead of Fed Decision as Oil Prices Ease Inflation Fears 
Oil Prices Ease After Sharp Rally as Trump Warns of More Action Against Iran 
Asian Stocks Slip as Fed Holds Rates, Samsung Earnings Fail to Lift AI Sentiment 
Japan PM Sanae Takaichi Plans Temporary Food Tax Cut to Ease Inflation Pressure 
Gold Price Today: Gold Set for First Monthly Gain Since February Despite Friday Dip 
Oil Prices Jump as Trump Vows Response to Iran Attack, Supply Risks Return 
Fed Holds Interest Rates Steady as Kevin Warsh Says Rising Treasury Yields Tighten Financial Conditions 
Oil Prices Jump 4% as Iran Missile Strike Revives Middle East Supply Fears 
US Stock Futures Slip Ahead of Fed Decision, Big Tech Earnings Amid Middle East Tensions 
Fed Holds Rates Steady as US Dollar Slides, Euro and Yen Gain 
Asian Currencies Hold Steady After Fed Decision as Dollar Finds Support 
Hong Kong Home Prices Extend Winning Streak With 13th Straight Monthly Gain in June 
European Stocks Edge Higher as Strong Earnings Offset Inflation and Fed Rate Concerns 
Oman Proposes Strait of Hormuz Plan as U.S., Iran Remain Divided Over Shipping Fees 
Asian stock markets surged on Friday, tracking a strong rebound on Wall Street as renewed confidence in artificial intelligence (AI) spending sparked a broad recovery in technology shares. South Korea’s Kospi led the gains with a record comeback after suffering heavy losses earlier in the week, raising hopes that the recent AI-driven market selloff may be nearing its end.
The rally followed better-than-expected earnings from Microsoft and Amazon, whose strong results and upbeat outlook reassured investors that demand for AI infrastructure remains robust despite concerns over rising capital expenditures. Japan’s Nikkei climbed 4.5%, while MSCI’s Asia-Pacific index excluding Japan advanced 4.6%. Nasdaq futures gained 0.6%, and S&P 500 futures rose 0.3%, pointing to continued strength in global equities.
Analysts said investor sentiment has improved after markets may have overreacted to worries surrounding AI-related spending. China also joined the recovery, with the CSI AI Index jumping more than 7% and the Hang Seng Tech Index posting modest gains.
Despite Friday’s sharp rebound, South Korea’s Kospi remained on course for its worst monthly performance since 1997, with losses exceeding 25% in July. The extreme volatility prompted South Korean regulators to tighten oversight of leveraged investment products that amplified retail investor losses.
Currency markets remained focused on the Japanese yen, which traded around 160.55 per dollar after staging a dramatic rebound from a 40-year low. The move followed suspected intervention by Japanese authorities, while reports suggested South Korea also sold dollars to support its currency. Traders were also watching the Bank of Japan’s policy decision, with expectations the central bank would keep interest rates unchanged.
The stronger yen weighed on the U.S. dollar, allowing the euro to hold near a one-month high at $1.1514, while the British pound remained firm around $1.3457.
Meanwhile, oil prices slipped despite continued geopolitical tensions in the Middle East. Brent crude fell to about $88 per barrel and U.S. crude dropped below $82, even after a drone strike on gas vessels at Egypt’s Damietta port raised concerns over potential disruptions to shipping near the Suez Canal. Gold also edged lower, with spot prices easing to around $4,083 an ounce as investors shifted toward risk assets.
