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Asian Currencies Mixed as Yen Rallies on BOJ Bets 
UK House Prices Fall for First Time Since 2023 
Japan, US Target AI and Chips in $550 Billion Investment Push 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
U.S. Payrolls Seen Rebounding in August as Labor Market Stays Soft 
Iran’s Hormuz Oil Pressure Fades as Gulf Crude Flows Continue 
Hong Kong Eyes Offshore Yuan Expansion, Deeper China Market Links 
Asian Stocks Rally as Fed Rate Hike Fears Ease 
Gold Prices Hold Near $4,500 as Fed Rate Hike Bets Ease 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
Asian Stocks Rally as AI Optimism Fuels Chipmaker Surge 
Yen Rebounds as BOJ Rate Hike Bets Rise 
Chinese AI Stocks Rally After OpenAI Launches GPT-6 Astra 
US Oil Blockade Deepens Iran’s Economic Crisis 
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Asian stocks mostly advanced Friday, putting regional markets on course for their strongest weekly performance since mid-June as softer US inflation data eased concerns over another Federal Reserve interest rate hike.
The rally followed gains on Wall Street, where the S&P 500 closed at a record high Thursday and the Nasdaq reached its highest level since late June. In Asian trading, Nasdaq 100 futures slipped around 0.1%, while S&P 500 futures remained largely unchanged.
Investor sentiment improved after US producer prices were flat in July, below expectations for a 0.2% increase. Annual producer price inflation also slowed to 4.7% from 5.5% in June. Fed funds futures now indicate roughly a 35% probability of a rate hike, down from 55% a week earlier.
The MSCI Asia Pacific index gained about 0.5%, heading toward a 2.7% weekly increase and its fourth consecutive week of gains. South Korea’s KOSPI climbed 1.6%, supported by semiconductor stocks, while Japan’s Nikkei 225 rose 0.7% and the TOPIX added 0.8%.
SK Hynix jumped 3.2%, extending its weekly gain beyond 15%, while Samsung Electronics advanced 0.9%. LG Innotek gained 4.1%. Japanese technology shares also strengthened, with Kioxia Holdings rising 3.4% and Sony surging 5.2%.
Chinese markets underperformed the broader Asian stock rally. The CSI 300 declined 0.12%, the Shanghai Composite fell 0.2%, and Hong Kong’s Hang Seng dropped 0.9%.
Chinese semiconductor giant SMIC gained 2.2% following earnings that highlighted strong artificial intelligence-related demand. However, major technology stocks struggled. Baidu fell 1.55%, Alibaba declined 2.3%, and Meituan sank 5.53%. JD.com plunged 10% after reporting its first year-on-year revenue decline in more than a decade, reinforcing concerns about weak Chinese consumer demand.
Elsewhere, Australia’s ASX 200 fell 0.9%, while India’s Nifty 50 opened 0.3% lower. Brent crude held near $87 a barrel and remained on track for a roughly 4% weekly gain amid renewed geopolitical tensions involving Iran.
