Bessent Says Yen Moves Contained as BOJ Rate Decision Looms 
Asian Tech Stocks Slide as Fed Rate Hike Bets Rise 
Dollar Holds Near Two-Week High as Fed Rate Hike Bets Rise 
UAE Central Bank Probes Banque Misr Over Iran Links 
Canada Backs €100B Global Defence Bank as G7 Support Lags 
US Stock Futures Fall as Iran Strikes, Fed Rate Fears Rise 
China Manufacturing PMI Contracts Again as Recovery Remains Fragile 
Citi Sees Signs of Shift in Global Currency Policy 
Oil Prices Jump as U.S.-Iran Tensions Threaten Hormuz 
Japan Industrial Output, Retail Sales Beat Forecasts in July 
Japan Bond Yields Top 3% as Inflation, Fiscal Risks Rise 
India Manufacturing Growth Slows to Five-Year Low in August 
Australia Current Account Deficit Widens to A$27.2 Billion 
Oil Prices Rise as U.S.-Iran Fighting Fuels Supply Fears 
Asian Stocks Fall as Fed Rate Hike Bets and Iran Conflict Rattle Markets 
Asian Currencies Mixed as Yen Nears 160, Oil Surges 
Global Markets Brace for Fed Rate Hike as Oil Tops $91 
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Asian stock markets traded mostly lower on Tuesday as investors weighed the prospect of another Federal Reserve interest rate hike against stronger economic data from China and South Korea. Renewed U.S.-Iran tensions and surging oil prices also pressured regional sentiment.
Japan’s Nikkei 225 slipped 0.2%, while the broader TOPIX gained 0.5%. South Korea’s KOSPI declined 0.4% despite exports surging 68.7% year-on-year in August, above expectations for 62.6% growth. The figures highlighted robust demand for technology products, particularly semiconductors benefiting from the artificial intelligence boom.
Chinese equities were mixed. The Shanghai Composite and CSI 300 were largely flat, while Hong Kong’s Hang Seng Index dropped 1.2%.
China’s private-sector manufacturing sector showed further improvement, with the RatingDog China General Manufacturing PMI rising to 51.5 in August from 50.9 in July. Stronger output, new orders and export demand helped accelerate factory activity.
Elsewhere in Asia-Pacific markets, Australia’s S&P/ASX 200 fell 0.4%, Singapore’s Straits Times Index lost 0.7%, and futures linked to India’s Nifty 50 edged 0.1% lower.
Investor caution intensified after renewed hostilities between the United States and Iran pushed Brent crude above $90 per barrel. Rising energy prices could keep inflation elevated and complicate the Federal Reserve’s monetary policy outlook.
Markets are pricing in a 66% probability of a Fed rate hike at the September meeting following hawkish comments from Chair Kevin Warsh at the Jackson Hole symposium. Investors are now awaiting U.S. labor market data for additional signals on the economy and interest rates.
Hong Kong sentiment also weakened as Shein shares stumbled during their stock market debut. The fast-fashion company opened at its HK$48.56 IPO price before falling to HK$43.72, roughly 10% lower. Shein raised $1.7 billion at a $26.5 billion valuation.
Technology stocks remained active after Nvidia announced a $3.5 billion investment in Taiwan’s MediaTek, sending MediaTek shares sharply higher.
