JPMorgan Sees ECB Raising Rates to 2.75% in December 
Iran Vows Tougher Response as U.S. Sanctions Squeeze Economy 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
US Oil Blockade Deepens Iran’s Economic Crisis 
Japan, US Target AI and Chips in $550 Billion Investment Push 
U.S. Payrolls Seen Rebounding in August as Labor Market Stays Soft 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
Iran’s Hormuz Oil Pressure Fades as Gulf Crude Flows Continue 
Turkey Targets 5% Economic Growth by 2029 
Jefferies Names 6 Top India Stock Picks Across Key Sectors 
Gold Prices Hold Near $4,500 as Fed Rate Hike Bets Ease 
China to Inject $45 Billion Into State Financial Institutions 
Chinese AI Stocks Rally After OpenAI Launches GPT-6 Astra 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
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Asian stock markets suffered steep losses on Monday as investors locked in profits from the booming technology and artificial intelligence sectors, while escalating tensions between Iran and Israel further weakened market sentiment. The sharp sell-off followed a weak finish on Wall Street, where major U.S. indexes declined after stronger-than-expected employment data fueled concerns that interest rates could remain elevated for longer.
South Korea’s KOSPI index emerged as the region’s biggest loser, plunging nearly 9% at one stage as heavyweight semiconductor companies came under intense selling pressure. Samsung Electronics and SK Hynix, which have been key drivers of the market’s strong performance this year, both declined amid broader weakness in chip and AI-related stocks. However, SK Hynix limited some losses after announcing a partnership involving advanced AI chips with NVIDIA.
Japan’s Nikkei 225 also recorded significant declines, dropping more than 3% as investors reassessed valuations across the technology sector. Major technology investor SoftBank fell sharply, while semiconductor-related firms such as SUMCO and Renesas Electronics posted double-digit losses. Japan’s broader TOPIX index also moved lower after revised economic data showed first-quarter GDP growth slowing to 1.8%, below earlier estimates of 2.1%.
The downturn extended across Asia as renewed military exchanges between Iran and Israel heightened geopolitical uncertainty. The latest airstrikes weakened hopes for a lasting peace agreement and pushed oil prices higher, creating additional pressure on regional equities. Chinese markets also moved lower, with the CSI 300 and Shanghai Composite indexes posting notable losses, while Hong Kong’s Hang Seng Index and Singapore’s Straits Times Index followed the regional decline.
Despite the broad sell-off, U.S. stock futures showed signs of stabilization during Asian trading hours, with S&P 500 and Nasdaq 100 futures edging higher. Investors are now closely watching developments in the Middle East, movements in oil prices, and upcoming Federal Reserve decisions, all of which could influence the direction of global markets and the future of the AI-driven stock rally.
