Asian Currencies Strengthen as Indian Rupee and Australian Dollar Rally 
Dollar Holds Firm as Strong U.S. Data, Fed Expectations and Global Central Bank Moves Shape Markets 
Taiwan Urges Stronger Trade Ties With Fellow Democracies, Rejects Economic Dependence on China 
Oil Prices Steady as Markets Weigh U.S.-Iran Talks, Dollar Strength Caps Gains 
Oil Prices Climb as Middle East Tensions and U.S. Inventory Data Boost Market Sentiment 
Trump Announces U.S.–India Trade Deal Cutting Tariffs, Boosting Markets and Energy Ties 
U.S. Stock Futures Edge Lower as Tech and AI Stocks Drag Wall Street Ahead of Key Earnings 
Paul Atkins Emphasizes Global Regulatory Cooperation at Fintech Conference 
Australian Scandium Project Backed by Richard Friedland Poised to Support U.S. Critical Minerals Stockpile 
Trump Administration Sued Over Suspension of Critical Hudson River Tunnel Funding 
S&P 500 Rises as AI Stocks and Small Caps Rally on Strong Earnings Outlook 
Japan Services Sector Records Fastest Growth in Nearly a Year as Private Activity Accelerates 
Indian Rupee Strengthens Sharply After U.S.-India Trade Deal Announcement 
RBA Raises Interest Rates by 25 Basis Points as Inflation Pressures Persist 
Asian stocks traded on shaky ground on Wednesday as global markets digested sharp losses in U.S. and European equities, driven by growing fears that rapid advances in artificial intelligence could disrupt traditional software and professional services industries. While selling pressure was milder in Asia, the cautious tone reflected broader uncertainty around the future impact of AI on global growth and corporate earnings.
MSCI’s Asia-Pacific shares outside Japan slipped 0.2%, while Japan’s Nikkei dropped 1.23%. South Korea’s technology-heavy KOSPI edged down 0.14%, and Taiwan stocks fell 0.68%. Nasdaq futures declined 0.25% after a steep overnight loss, with S&P 500 and EUROSTOXX 50 futures also slightly lower. Analysts noted that Asia was relatively insulated, given its stronger exposure to hardware manufacturing rather than software-centric business models.
Investor anxiety intensified after Anthropic launched new plug-ins for its Claude Cowork agent, fuelling concerns of AI-driven disruption across data analytics, software, and consulting firms. Market strategists highlighted that the “AI trade” is increasingly dividing between winners and losers, rather than lifting the entire technology sector.
In commodities, oil prices climbed as geopolitical tensions resurfaced in the Middle East. Brent crude rose 1% to $68.03 a barrel, while U.S. crude gained 1.1% to $63.90. The move followed reports that the U.S. military shot down an Iranian drone near an aircraft carrier and that Iranian boats approached a U.S.-flagged tanker in the Strait of Hormuz, a critical oil shipping route for Asia.
Precious metals rebounded after a recent selloff, with spot gold rising 1.5% to $5,014 an ounce and silver gaining 1.7%. The earlier rout was triggered by expectations that a more hawkish Federal Reserve, under nominee Kevin Warsh, could shrink its balance sheet, pressuring non-yielding assets.
Currency markets were steadier, with the dollar pausing its rally. The yen weakened past 156 per dollar ahead of Japan’s election, while the euro and sterling held firm. Bitcoin hovered near multi-month lows as investors reassessed risk amid shifting Fed expectations.
