Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Asian currencies showed little movement on Thursday following strong gains in the prior session, as investor caution mounted over the stability of a U.S.-Iran ceasefire deal amid escalating Middle East tensions. The U.S. Dollar Index slipped 0.1% after touching a four-week low on Wednesday, with futures also declining slightly in early Asian trading.
Market optimism faded quickly after Israeli airstrikes on Lebanon intensified despite President Donald Trump's announcement of a two-week U.S.-Iran ceasefire. The conflict raised questions about whether Lebanon fell within the agreement's scope. Iran responded by declaring that peace negotiations would be unreasonable under the current circumstances, and reports confirmed that Tehran had once again closed the Strait of Hormuz, a critical global oil shipping lane.
Analysts at MUFG warned that a lasting agreement remains unlikely given the significant gaps between involved parties, pointing to continued risk of volatility across financial markets. The initial ceasefire announcement had briefly lifted risk appetite and pressured the dollar, supporting higher-yielding Asian currencies — but that momentum quickly stalled.
Among regional currencies, the South Korean won edged slightly lower against the dollar after rallying over 1% the previous day. The Japanese yen also gave back a small portion of its recent gains. India's rupee weakened modestly after the Reserve Bank of India held its benchmark interest rate steady, reaffirming its commitment to managing excessive currency fluctuations through temporary measures.
The Chinese yuan stabilized marginally after hitting a three-year low in the prior session, while the Australian and Singapore dollars traded nearly flat. Oil prices rebounded more than 2% on renewed supply disruption fears tied to the Strait of Hormuz, adding pressure to oil-dependent Asian economies. Traders are now focused on Friday's U.S. consumer inflation report for fresh signals on Federal Reserve interest rate policy.
