China Cuts Tariffs on U.S. Farm Goods but Excludes Soybeans 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Asian Chip Stocks Tumble as OpenAI Safety Pause Sparks AI Growth Concerns 
Trump to Ease U.S. Fuel-Economy Standards 
Asian Currencies Weaken as Dollar, Oil Prices Rise 
US Comfortable With Canada Trade Standoff as Import Bans Loom 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Asian Stocks Fall as Oil Surge, Bond Yields and AI Concerns Hit Markets 
China Agrees to Buy 20 Million Tons of U.S. Coal 
South Korea Tax Windfall Could Top 50 Trillion Won on Chip Boom 
China Consumer Stocks Near Decade Lows as AI Shares Surge 
UK PM Burnham to Unveil Economic Vision at Labour Conference 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Australia Budget Deficit Narrows to A$22.3 Billion on Stronger Tax Revenue 
XRP Price Targets $1.70 as Bullish Momentum Builds 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Hong Kong Home Prices Stabilize in August After July Decline 
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Global stock markets traded mostly lower on Monday as rising oil prices and fading hopes for a quick U.S.-Iran truce intensified inflation concerns and pushed bond yields higher ahead of a busy week of economic data.
Oil prices climbed after U.S. President Donald Trump rejected an Iranian proposal to reopen the Strait of Hormuz. Trump said negotiations would continue this week, while Tehran has shown little indication it will soften its conditions.
Brent crude futures jumped 2.1% to $106.49 a barrel, extending their monthly gain to nearly 18%. U.S. crude rose 1.5% to $93.84. Limited refining capacity has also driven diesel prices to record highs, increasing concerns that elevated energy costs could feed into broader inflation and wages.
Those pressures have prompted central banks to tighten monetary policy. The Reserve Bank of Australia is expected to be the next focus when it meets Tuesday. Markets are pricing a 66% probability of another Federal Reserve rate hike in October, with about 90 basis points of tightening expected through late 2027.
Higher rate expectations continued to pressure bonds. The 30-year U.S. Treasury yield rose to around 5.52%, near its highest level since 2004, while two-year yields have climbed 55 basis points in September.
Asian equities weakened, with South Korean shares falling 2.4% and Chinese blue chips dropping 1.4%. MSCI's Asia-Pacific index excluding Japan declined 0.6%, while Japan's Nikkei was little changed. U.S. S&P 500 and Nasdaq futures slipped 0.3% and 0.5%, respectively.
Investors are now awaiting U.S. inflation, GDP, manufacturing and employment figures. Friday's September payrolls report is expected to show 85,000 new jobs, with unemployment holding at 4.1%.
Strong economic data have supported the U.S. dollar, pushing the dollar index to a two-month high of 101.39. The euro slipped to $1.1380, while the dollar rose 0.3% against the yen to 157.73.
Gold fell 1.7% to $4,212 an ounce as surging Treasury yields reduced demand for the non-interest-bearing precious metal.
