Oil Prices Rise as U.S. Strikes on Iran Raise Strait of Hormuz Supply Fears 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
Port of Los Angeles Posts Record June Cargo Volume as Importers Rush Ahead of U.S. Tariffs 
US Stock Futures Hold Steady as Soft Inflation Data Eases Fed Rate Hike Fears 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
UBS Boosts China Tech Bets, Adds Kuaishou and Meituan to Focus List 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Asian stock markets mostly declined on Friday, tracking sustained losses in global technology shares and a weak lead from Wall Street, while Japanese equities managed to stabilize ahead of a closely watched national election. Investor sentiment across the region remained fragile as concerns over artificial intelligence-driven disruptions and heavy corporate spending weighed on risk appetite.
Regional markets followed Wall Street lower after U.S. tech stocks extended sharp declines. S&P 500 Futures slipped 0.2% in late trading, with Amazon.com shares plunging as much as 11% after the e-commerce giant issued an aggressive spending outlook for 2026. The selloff in major U.S. technology stocks spilled over into Asia, pressuring tech-heavy indices across the region.
South Korea’s KOSPI fell 1.7%, reflecting broad losses in semiconductor and technology names, while Hong Kong’s Hang Seng Index declined 1.3% amid continued weakness in Chinese tech stocks. Singapore’s Straits Times Index dropped 0.7%, and India’s Nifty 50 futures edged down 0.1% ahead of a Reserve Bank of India policy meeting, where interest rates are widely expected to remain unchanged.
Mainland Chinese markets showed relative resilience, with the CSI 300 and Shanghai Composite indices trading in a narrow range as investors remained cautious amid ongoing economic uncertainty and mixed policy signals from Beijing.
Japanese stocks stood out as a rare bright spot in Asia. The Nikkei 225 and TOPIX indices rose about 0.7% each as markets turned their attention to Sunday’s national election. Polls suggest Prime Minister Sanae Takaichi’s party is on track for a decisive victory, potentially securing a super-majority that would allow for sweeping fiscal reforms. Expectations of increased fiscal stimulus and tax cuts to offset rising living costs supported equities, although concerns over Japan’s already elevated government debt have unsettled bond markets.
Australian stocks underperformed sharply, with the ASX 200 sliding as much as 2% after Reserve Bank of Australia Governor Michele Bullock struck a hawkish tone. Following the RBA’s first rate hike in two years, Bullock warned that strong domestic demand and tight capacity could keep inflation elevated, prompting markets to price in at least one more interest rate hike this year.
