Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Asian Currencies Weaken as Stronger Dollar Weighs, Yen Supported by GPIF Repatriation Hopes 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Asian stock markets surged on Friday after U.S. President Donald Trump indicated that a peace agreement with Iran could be finalized soon, boosting investor confidence and driving a broad rally across regional equities. The positive sentiment followed a strong overnight performance on Wall Street, where risk-sensitive assets gained momentum amid hopes of easing geopolitical tensions in the Middle East.
Investor optimism was further supported by a sharp decline in oil prices after Trump suggested that any agreement with Iran would include the immediate reopening of the Strait of Hormuz, a critical global shipping route. Lower energy prices helped improve market sentiment and encouraged buying across major Asian stock indexes.
South Korea’s KOSPI emerged as the region’s top performer, soaring more than 8% as heavyweight semiconductor and technology stocks recovered from recent losses. Japan’s Nikkei 225 also posted impressive gains, climbing 3.5%, while the broader TOPIX index advanced 1.7%. The rebound comes after chipmakers faced significant selling pressure over the past week due to concerns surrounding the Iran conflict and higher interest rates.
Market participants are also closely watching SpaceX’s highly anticipated Nasdaq trading debut following its massive $75 billion initial public offering. The listing is expected to provide fresh insight into investor appetite for technology stocks amid ongoing concerns about elevated sector valuations.
Elsewhere, Hong Kong’s Hang Seng Index moved higher, supported by gains in major technology companies. Alibaba shares rose after reports indicated the company had offered $1.5 billion to acquire Chinese grocery retailer Pupu, strengthening its position in the online grocery sector.
Australia’s ASX 200 gained 1.8% ahead of next week’s Reserve Bank of Australia policy meeting, while China’s Shanghai Composite and CSI 300 indexes each climbed around 1.6%. Singapore’s Straits Times Index added 0.5%, and India’s Nifty 50 futures edged higher.
Despite lingering uncertainty over the progress of a U.S.-Iran agreement, hopes for reduced geopolitical risks and recovering technology stocks helped fuel a strong rally across Asian financial markets.
