Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
South Korea GDP Surges on Chip and AI Boom 
China Inflation Accelerates in August as CPI, PPI Rise 
China to Inject $45 Billion Into State Financial Institutions 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
Jefferies Names 6 Top India Stock Picks Across Key Sectors 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Gold Prices Rise as Yen Rally Weakens Dollar 
Asian Stocks Mixed as Korean Chipmakers Rally 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
Oil Prices Climb as Iran Threatens Gulf Energy Infrastructure 
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Asian stocks eased on Friday, retreating from record highs as investors booked profits ahead of a critical week marked by U.S. President Donald Trump’s tariff deadline and key central bank meetings. The dollar strengthened against the yen after rebounding from a two-week low, supported by firm U.S. economic data, while Japan’s currency weakened amid political uncertainty following reports Prime Minister Shigeru Ishiba may resign.
Japan’s Topix index, which surged over 5% in the previous two sessions to a record high, slipped 0.7%, while the Nikkei fell 0.5% from a one-year high. Hong Kong’s Hang Seng dropped 0.5%, mainland Chinese blue chips slid 0.2%, and Australia’s benchmark declined 0.5%. In contrast, U.S. S&P 500 futures rose 0.2%, buoyed by strong Alphabet earnings, with the Nasdaq also hitting a record close.
Global markets remain cautious ahead of multiple events: Trump’s August 1 trade deadline, the U.S. Federal Reserve policy meeting, key payroll data, and earnings reports from tech giants Amazon, Apple, Meta, and Microsoft. The Bank of Japan will announce its policy on Thursday, coinciding with a key Liberal Democratic Party meeting following Ishiba’s coalition loss in recent elections.
The euro traded near $1.1743, down 0.2% against the dollar, while the U.S. currency advanced 0.3% to 147.37 yen. U.S. 10-year Treasury yields eased to 4.39%, while Japanese government bond yields hovered near 1.6%, their highest since 2008.
Gold prices held steady at $3,368 per ounce, poised for a weekly gain, while Brent crude rose 0.3% to $69.35 and U.S. WTI gained 0.2% to $66.18 per barrel.
