Asian Currencies Weaken as Dollar Rises, Kiwi Slides After RBNZ Hike 
China Manufacturing PMI Contracts Again as Recovery Remains Fragile 
Australia Current Account Deficit Widens to A$27.2 Billion 
South Korea Unveils Record $597 Billion 2027 Budget to Boost AI and Chips 
Dollar Hits Two-Week High as Iran Conflict Lifts Oil and Bond Yields 
Oil Prices Rise as US-Iran Conflict Threatens Middle East Supply 
US Strikes Iran IRGC Targets as Conflict Escalates 
Asian Currencies Mixed as Yen Nears 160, Oil Surges 
German Retail Sales Drop 3.4% in July 
Brazil, US Resume Tariff Talks as Trade Tensions Persist 
Australia GDP Beats Forecast, Boosting RBA Rate Hike Bets 
Global Markets Brace for Fed Rate Hike as Oil Tops $91 
Asian Stocks Slip as Fed Rate Hike Bets and Oil Surge Weigh 
Asian Stocks Tumble as Oil Surge Fuels Rate Hike Fears 
South Korea Inflation Rises to 3.1% in August 
Canada Backs €100 Billion Global Defence Bank 
Gold Prices Steady as U.S.-Iran Tensions Lift Inflation Risks 
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Asian stock markets advanced on Friday, led by a strong rebound in semiconductor shares, as investors shifted their focus from escalating Middle East tensions to the long-term growth outlook for artificial intelligence (AI) and global chip demand.
Despite renewed conflict after fresh U.S. strikes on Iran prompted retaliatory missile and drone attacks against U.S.-aligned nations, market sentiment remained resilient. Investors continued to monitor risks to the Strait of Hormuz and global oil supplies but were encouraged by fresh signs that the AI investment cycle remains strong. U.S. futures reflected the positive mood, with Nasdaq 100 Futures rising 0.3% and S&P 500 Futures gaining 0.1% during Asian trading.
South Korea led regional gains as the KOSPI jumped 4.2%, recovering from a steep selloff that pushed the index into bear-market territory a day earlier. Samsung Electronics climbed 4.9%, while SK Hynix added 1.5% after pricing its $26.5 billion U.S. American depositary share (ADS) offering, which attracted demand more than seven times the available shares. The company’s new SKHY ticker gives U.S. investors direct exposure to one of Nvidia’s key high-bandwidth memory suppliers. SK Hynix shares remain up about 680% over the past year.
Technology sentiment also improved after Micron Technology announced plans to boost its U.S. investment to approximately $250 billion through 2035 to expand memory chip production, reinforcing confidence in AI-driven semiconductor demand.
Japan’s Nikkei 225 climbed roughly 2%, while the TOPIX gained 0.7%, supported by reports that Japan’s Government Pension Investment Fund (GPIF) may increase allocations to domestic equities. Murata Manufacturing rose nearly 4%, and Kioxia Holdings surged about 5.7% following Bain Capital’s exit from the memory chipmaker.
Elsewhere, Hong Kong’s Hang Seng gained 1.8%, while China’s CSI 300 and Shanghai Composite posted modest gains as investors anticipated additional policy support and upcoming economic data. Australia’s S&P/ASX 200 rose 0.7%, with uranium miners rallying after Australia and India agreed to strengthen cooperation on uranium exports, boosting optimism for long-term demand driven by the expanding global nuclear energy sector.
Investors are now preparing for a busy week of economic releases, including China’s GDP, trade, retail sales and industrial production data, Singapore’s advance GDP estimate, India’s inflation report, and the Bank of Korea’s policy decision, all of which could influence the next move in Asian financial markets.
