Asian Currencies Rise as Yen Surges on Fed Rate Outlook 
Gold Prices Hold Near $4,500 as Fed Rate Hike Bets Ease 
Chinese AI Stocks Rally After OpenAI Launches GPT-6 Astra 
U.S. Payrolls Seen Rebounding in August as Labor Market Stays Soft 
Jefferies Names 6 Top India Stock Picks Across Key Sectors 
China Expands Influence in Global Gold Market 
Iran Plans New Gulf Restricted Zone as Hormuz Tensions Push Oil Higher 
Singapore Straits Times Index Hits Record High as Banks, Property Stocks Rally 
Japan Foreign Reserves Plunge $79.6 Billion After Record Yen Intervention 
Asian Currencies Mixed as Yen Rallies on BOJ Bets 
European Stocks Flat as Iran Tensions, ECB Rate Hike Loom 
US Stock Futures Mixed as Strong Jobs Data Boosts Fed Rate Hike Bets 
Hong Kong Eyes Offshore Yuan Expansion, Deeper China Market Links 
China to Inject $45 Billion Into State Financial Institutions 
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Global oil prices soared Friday, posting strong weekly gains as tensions between the United States and Iran continued to intensify and the Strait of Hormuz remained effectively closed, fueling fears of a prolonged global energy supply crisis.
Brent crude futures climbed 3.3% to $109.27 per barrel, while U.S. West Texas Intermediate (WTI) crude rose 4.2% to $105.41 per barrel. The sharp rally puts Brent on track for an 8% weekly gain, while WTI is set to rise more than 10% for the week.
Investor concerns deepened after U.S. President Donald Trump signaled growing frustration with Tehran. Trump rejected Iran’s latest response to a U.S. proposal aimed at ending hostilities and warned that his patience was wearing thin. In recent remarks, he reiterated that any agreement must guarantee Iran will not possess nuclear capabilities.
Market sentiment also remained cautious after Trump’s highly anticipated meeting with Chinese President Xi Jinping ended without any major breakthrough regarding the Middle East conflict. Although both leaders reportedly agreed that the Strait of Hormuz must remain open to protect global energy supplies, no concrete actions or diplomatic progress were announced.
The closure of the Strait of Hormuz has become the biggest oil supply disruption in modern history. Nearly 20% of global oil and gas shipments normally pass through the critical waterway. While Iranian state media reported that some vessels recently crossed the route, shipping activity remains far below normal as tanker companies continue to avoid the area due to security risks.
The International Energy Agency warned that global oil markets could remain severely undersupplied through October, even if tensions ease in the coming weeks.
Meanwhile, discussions between the U.S. and China also focused on trade relations, artificial intelligence cooperation, and regional security. Despite optimistic expectations ahead of the summit, investors were left disappointed as no significant trade agreements or geopolitical solutions emerged from the talks.
