Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Asia Stocks Slip as Iran-Hormuz Tensions Lift Oil Prices, Dollar and Bond Yields 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
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 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Asian stock markets declined on Friday as renewed military tensions between the United States and Iran weakened investor sentiment across the region. Concerns intensified after reports that the U.S. military intercepted attacks on warships in the Strait of Hormuz, raising fears of a wider conflict and disrupting hopes for a peaceful resolution in the Middle East.
The negative momentum followed losses on Wall Street overnight, although broader market declines in Asia remained relatively controlled. Investors continued to show confidence in technology and artificial intelligence-related stocks, helping S&P 500 Futures edge 0.2% higher during Asian trading hours.
South Korea’s KOSPI index was among the region’s weakest performers on Friday, dropping 1.6% after reaching record highs earlier in the week. Despite the decline, the index remained the strongest-performing Asian market this week, posting gains of more than 11%. The rally was fueled largely by strong performances in semiconductor stocks tied to the growing AI boom.
Samsung Electronics fell 3%, while SK Hynix declined 1.5% after a week of sharp gains. However, losses in SK Hynix were limited following reports that major global technology firms were making aggressive bids to secure memory chip supplies from the company amid rising AI demand.
Japan’s Nikkei 225 and TOPIX indexes both lost more than 1% as rising oil prices and expectations of a Bank of Japan interest rate hike pressured investor confidence. Strong wage growth data in Japan further supported speculation that tighter monetary policy may be approaching.
Chinese markets also traded lower, with the CSI 300 and Shanghai Composite indexes slipping modestly. Hong Kong’s Hang Seng index fell 1.2%, although technology shares continued to support weekly gains.
Australia’s ASX 200 dropped 1.5% after the Reserve Bank of Australia raised interest rates and warned inflation risks remain elevated. Singapore and India also showed weaker market sentiment as geopolitical uncertainty and higher oil prices continued to weigh on global investors.
