Iran Threatens Gulf Energy Assets as U.S. Tensions Escalate 
Gold Prices Rise as Yen Rally Weakens Dollar 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
Hormuz Shipping Slows as Iran Threats Lift Oil Risks 
Hungary Industrial Output Beats Forecasts With 4.7% July Growth 
South Korea GDP Surges on Chip and AI Boom 
China Exports Surge 25% in August as Trade Surplus Hits $119 Billion 
China to Inject $45 Billion Into State Financial Institutions 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Japan, U.S. Stay Aligned on Yen as Currency Surges 
Oil Prices Rise as Hormuz Tensions Threaten Supply 
Yen Rebounds as BOJ Rate Hike Bets Rise 
China Expands Influence in Global Gold Market 
Uranium Prices Could Top $100 as Nuclear Demand Grows 
Japan GDP Growth Beats Forecast, Boosting BOJ Rate Hike Bets 
UK House Prices Fall for First Time Since 2023 
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Asian stock markets were volatile in early Friday trading as investors reacted to fresh signals from U.S. President Donald Trump on government funding and monetary policy, alongside mixed corporate earnings from major U.S. technology companies. The uncertainty weighed on risk sentiment even as global equities headed toward a strong monthly performance.
MSCI’s broad Asia-Pacific index excluding Japan moved between gains and losses before slipping 0.2%, extending the previous session’s decline while still on track for its best month in over three years. U.S. equity futures pointed lower, with S&P 500 e-mini futures down 0.4% and Nasdaq e-mini futures falling 0.5%, reflecting ongoing concerns about technology valuations and artificial intelligence investments.
Market focus sharpened after Trump endorsed a bipartisan deal aimed at avoiding another U.S. government shutdown and confirmed he has decided on a nominee to replace Federal Reserve Chair Jerome Powell. These developments pushed the U.S. dollar higher, with the dollar index rising 0.3%, while the 10-year Treasury yield climbed to 4.263% as traders assessed the implications for interest rates. Fed funds futures currently imply an 86.6% probability that the Federal Reserve will keep rates unchanged at its March meeting.
On Wall Street, stocks fell on Thursday after disappointing results from Microsoft reignited doubts about the profitability of heavy AI spending. Microsoft shares plunged 10%, erasing more than $350 billion in market value, while Meta surged 10% as its AI-driven advertising outlook impressed investors. Apple also boosted sentiment by forecasting up to 16% revenue growth for the March quarter, helped by strong iPhone demand and a rebound in China.
In commodities, precious metals retreated after a volatile session, with gold down 0.7% and silver slightly lower as traders unwound extended positions. Oil prices eased, with WTI crude slipping below $65 amid geopolitical concerns following new U.S. measures targeting countries trading oil with Cuba. Cryptocurrencies also weakened, with Bitcoin and ether both posting losses as broader risk appetite softened.
