China Trade Surplus Hits $125.6 Billion as June Exports, Imports Smash Forecasts 
Oil Prices Surge as U.S.-Iran Conflict Escalates and Strait of Hormuz Risks Grow 
Japanese Yen Holds Steady as Intervention Hopes Grow Ahead of U.S. CPI Data 
Gold Price Holds Near $4,000 as Middle East Tensions and Fed Rate Hike Bets Grow 
Singapore GDP Grows 5.7% in Q2 2026 as AI-Driven Manufacturing Boosts Economy 
South Korea Central Bank Set to Raise Interest Rates as Inflation Stays Elevated 
Oil Prices Climb as Trump Escalates Iran Pressure, Strait of Hormuz Risks Grow 
Iraq PM Visits Washington as U.S. Oil, Gas Deals Take Center Stage 
China Home Prices Fall Again in June Despite Slower Pace of Decline 
Asian Stocks Rally as Cooling U.S. Inflation Boosts Fed Rate Cut Hopes 
European Stocks Slip as Middle East Tensions and Hormuz Threat Rattle Markets 
Gold Price Holds Near Record High as Cooling U.S. Inflation Offsets Fed Caution 
China Q2 2026 GDP Misses Forecast as Weak Domestic Demand Offsets Export Strength 
Goldman Sees Foreign Investors Driving India Stock Market Recovery 
Gold Prices Fall as US-Iran Conflict, Rising Oil Prices Fuel Fed Rate Concerns 
South Korea’s KOSPI Triggers Trading Curb as AI Chip Stock Selloff Deepens 
Asian equities are on track for a second consecutive week of strong gains as easing tensions in the Middle East push oil prices further below the $100-per-barrel threshold. Investors are growing increasingly optimistic about a potential resolution to the ongoing conflict, despite the Strait of Hormuz — a critical artery for roughly one-fifth of global oil and gas supply — remaining closed.
Diplomatic progress has been moving quickly. A 10-day ceasefire between Lebanon and Israel took hold on Thursday, while President Donald Trump indicated that a fresh round of U.S.-Iran negotiations could take place as early as this weekend. The news sent Brent crude futures down over 1% to $98.14 a barrel, with West Texas Intermediate dropping 1.6% to $93.15.
Equity markets have responded positively. MSCI's broadest Asia-Pacific index outside Japan edged down 0.6% on the day but is still up 14.5% for April alone, recovering most of the 13.5% it shed in March when the Iran conflict erupted. Japan's Nikkei slipped 0.9% after touching a record high the previous session. On Wall Street, both the S&P 500 and Nasdaq closed at record highs for the second straight day, buoyed by solid corporate earnings.
However, some market veterans are urging caution. Andrew Chorlton, CIO for public fixed income at M&G, noted a striking gap between what central bankers are signaling and what financial markets appear to be pricing in, describing the current investor mood as "somewhat complacent." ATFX Global's Nick Twidale echoed this view, warning that a full reopening of the Strait of Hormuz is necessary before any sustained market rally can be trusted.
Meanwhile, the U.S. dollar index hovered near its lowest level since early March, with the euro climbing toward a seven-week high and the risk-sensitive Australian dollar approaching a four-year peak. The IMF has already downgraded its global growth outlook, cautioning that a prolonged conflict could push the world economy toward recession.
