Asian Stocks Mixed as Korean Chipmakers Rally 
China Inflation Accelerates in August as CPI, PPI Rise 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
China Buys 1 Million Tons of U.S. Soybeans Ahead of Xi Visit 
U.S. Stock Futures Steady as Oil Tops $100 Ahead of Inflation Data 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Oil Prices Hold Near Highs as U.S.-Iran Conflict Escalates 
Gold Prices Rebound as Dollar Weakens, Fed Decision Looms 
ECB Rate Hike in Focus as Oil Tops $100 
Asian Stocks Mixed as AI Chip Rally Meets Oil Surge 
Iraq Seeks 6 Million Bpd OPEC+ Oil Quota 
US Stock Futures Mixed as Fed Rate Hike Bets Rise 
Japanese Yen Nears Seven-Month High as Oil Approaches $100 
Canada Retaliatory Tariffs on U.S. Goods Take Effect 
Gold Prices Rise as Yen Rally Weakens Dollar 
German Inflation Accelerates to 2.9% in August 
US Bans Canadian Alcohol, Motorcycles as Trade War Escalates 
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Asian Stocks Flat as Japanese Markets Struggle Ahead of Election
Overview of Asian Stock Performance
Most Asian stocks remained rangebound on Friday, lacking strong trading cues, while Japan’s shares faced steep losses ahead of the country’s highly anticipated general election. The yen, nearing a three-month low, further rattled sentiment due to concerns over potential government intervention in currency markets.
Regional markets took modest cues from Wall Street's slightly positive close overnight. However, U.S. stock index futures steadied in Asian trade as the focus shifted toward upcoming mega cap tech earnings next week.
Japanese Stocks Fall on Election Worries
Japan’s Nikkei 225 index dropped 1.1%, reaching a three-week low, while the TOPIX fell 0.8%. Investors grew cautious ahead of Sunday’s general election, where polls indicate that the ruling Liberal Democratic Party may struggle to secure enough votes, potentially leading to alliances with smaller parties. Such uncertainty could complicate Prime Minister Shigeru Ishiba’s ability to implement key economic and monetary policies.
The ongoing political uncertainty also clouds the Bank of Japan’s (BOJ) monetary policy outlook. Although the BOJ is expected to keep interest rates steady next week, soft consumer inflation data from Tokyo, which showed inflation below the 2% target, added pressure to the yen. This heightened concerns over potential government intervention in currency markets.
Broader Asian Markets Muted
Other Asian markets remained quiet, with China’s indexes slightly up after the People's Bank of China left its key policy rate unchanged. Hong Kong’s Hang Seng rose 1%, marking the best performance in the region, while Australia’s ASX 200 and South Korea’s KOSPI also saw slight gains.
