Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
UK Food Inflation Forecast to Hit 6.4% by Mid-2027 
Oil Prices Rally as Brent Nears $100 on U.S.-Iran Escalation 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
China to Inject $45 Billion Into State Financial Institutions 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Gold Prices Rise as Yen Rally Weakens Dollar 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
South Korea GDP Surges on Chip and AI Boom 
Asian Stocks Mixed as Korean Chipmakers Rally 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
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Asian stocks surged on Tuesday after U.S. President Donald Trump postponed planned tariffs on Canada and Mexico, easing immediate trade war concerns. The delay provided a relief rally following Monday’s steep declines triggered by Trump’s initial tariff announcement.
Trump had announced a 25% tariff on imports from Canada and Mexico, alongside a 10% levy on Chinese goods, effective February 4. However, after discussions with Canadian and Mexican officials, he agreed to delay the tariffs on Mexico and Canada by 30 days, reducing the risk of supply chain disruptions and offering a potential window for further negotiations.
Japan’s Nikkei 225 rose 1.5%, while TOPIX gained 1.4%. South Korea’s KOSPI jumped 1.8%, rebounding from a multi-week low. Australia’s S&P/ASX 200 edged up 0.4%, and the Philippines’ PSEi Composite rallied 2%. In contrast, Thailand’s SET Index slipped 0.8%. U.S. stock index futures also gained in Asian trade after Wall Street closed lower on Monday.
Chinese markets remained closed for the Lunar New Year holiday and will reopen on Wednesday. Meanwhile, the U.S. tariffs on Chinese imports were still set to take effect, though investors appeared less concerned, expecting future negotiations and potential economic stimulus from China.
Hong Kong stocks soared as optimism around local artificial intelligence (AI) development drove gains. The Hang Seng Index jumped 3%, led by Semiconductor Manufacturing International Corp (SMIC), which surged 7.2%. Chinese tech giants Xiaomi and Alibaba climbed 5% each, reflecting strong investor confidence in AI-driven growth.
With market sentiment improving and trade uncertainties easing in the short term, investors are closely monitoring further developments in U.S.-China trade relations.
