Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Most Asian currencies weakened on Monday as rising geopolitical tensions in the Middle East reduced investor appetite for riskier assets. Concerns grew after U.S.-Iran peace negotiations appeared to stall, pushing the U.S. dollar and oil prices higher across global markets.
The U.S. Dollar Index gained momentum following stronger-than-expected U.S. payroll data released last week, which lowered expectations for immediate Federal Reserve interest rate cuts. The renewed strength of the dollar placed pressure on several Asian currencies, particularly those tied to emerging markets.
Market sentiment worsened after U.S. President Donald Trump reportedly described Iran’s response to Washington’s peace proposal as “totally unacceptable.” The comments dampened hopes for a quick resolution to tensions in the Gulf region, a key area for global energy supplies.
Oil prices surged more than 4% amid fears of disruptions near the Strait of Hormuz, one of the world’s most important oil shipping routes. Traders remain concerned that prolonged instability in the region could tighten global energy supply and fuel inflationary pressures worldwide.
Among Asian currencies, the South Korean won posted the biggest decline, with the USD/KRW pair rising 0.9%. The Indian rupee also weakened, pushing USD/INR up 0.4%, while the Singapore dollar slipped 0.3% against the greenback. The Australian dollar fell 0.3% as investors moved toward safer assets.
The Japanese yen also lost ground, although expectations of possible intervention by Japanese authorities helped limit losses. Analysts noted that Tokyo continues to closely monitor currency volatility after recent sharp yen movements sparked speculation of large-scale market intervention.
Meanwhile, China’s yuan found some support after inflation data exceeded forecasts. China’s consumer price index rose 1.2% year-on-year, while producer prices climbed 2.8%, marking the fastest increase in nearly four years. Investors are also watching for a highly anticipated meeting between Trump and Chinese President Xi Jinping later this week, where trade, Taiwan, and the Iran conflict are expected to dominate discussions.
