Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
Asian Stocks Slide as Oil Surge, U.S.-Iran Tensions and Fed Rate Bets Weigh on Markets 
Dollar Rises as Middle East Conflict Fuels Inflation and Rate Hike Fears 
Australian Business Conditions Hold Steady as Easing Cost Pressures Face New Oil Price Risks 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
South Korea’s KOSPI Enters Bear Market Despite Remaining 2026’s Best-Performing Major Stock Index 
Dollar Slides as Softer US Inflation Dims Fed Rate Hike Expectations 
ECB's Kocher Says No Inflation Spillover Yet From Iran Conflict, Warns Risks Remain 
US Inflation Expected to Ease in June, but Fed Rate Hike Risks Persist Amid Middle East Tensions 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Australia Consumer Sentiment Rises in July as Fuel Price Relief Lifts Confidence 
Asian Currencies Stay Rangebound as Middle East Tensions, Weak China GDP Weigh on Sentiment 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Dollar Eases as Middle East Conflict, Fed Outlook and Japan Pension Policy Drive FX Markets 
Asian Stocks Rise as Softer U.S. Inflation Boosts Sentiment Despite Middle East Tensions 
European stock markets closed lower on Friday as renewed military tensions between the United States and Iran rattled investor confidence and intensified concerns about global energy supplies. The escalating conflict weakened risk appetite across financial markets, dragging major European indices into negative territory.
The pan-European Stoxx 600 index declined 0.7%, while Germany’s DAX dropped 1.4%. France’s CAC 40 fell 1.1%, and the UK’s FTSE 100 slipped 0.4% as traders reacted to growing geopolitical uncertainty in the Middle East.
Market sentiment deteriorated after the U.S. Central Command reported that American naval destroyers traveling through the Strait of Hormuz faced missile, drone, and small-boat attacks from Iran on Thursday. In response, the United States launched retaliatory strikes targeting Iranian port facilities in Bandar Abbas and Qeshm.
Iran strongly condemned the attacks, accusing Washington of breaking the fragile ceasefire agreement. Tehran also claimed that U.S. forces targeted Iranian oil tankers near Jask port and nearby coastal regions critical to shipping operations.
The latest conflict disrupted optimism that had recently boosted global equities. Earlier reports suggested Washington and Tehran were nearing a diplomatic framework for renewed peace negotiations expected to begin in Pakistan. Investors had hoped the talks would lead to the reopening of the Strait of Hormuz, a vital global oil shipping route that has remained effectively closed since the conflict intensified in February.
Rising energy prices also pressured corporate stocks. IAG, owner of British Airways, warned that higher jet fuel costs linked to the Iran conflict would reduce annual profits. Intertek shares fell after rejecting a takeover proposal from Swedish investment firm EQT, while Rightmove gained support after maintaining its 2026 outlook driven by AI-powered growth.
Political uncertainty in the UK added further pressure after Prime Minister Keir Starmer’s Labour Party suffered major local election losses to Nigel Farage’s Reform UK party.
