Australia Unemployment Hits Five-Year High Despite Strong Jobs Growth 
U.S. Dollar Hits Two-Month High as Oil, Treasury Yields Surge 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
US Stock Futures Fall as Treasury Yields Surge Ahead of Trump-Xi Summit 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Canadian Dollar Faces Pressure as Fed-BoC Policy Gap Widens 
Germany’s 2026 Growth Outlook Strengthens on Fiscal Spending 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Dollar Falls as Oil Eases, Yen Jumps on Intervention Signals 
Add as a preferred source on Google
Asian stock markets traded mostly lower on Friday, weighed down by weak Japanese GDP data and a steep decline in Alibaba shares, while Australian equities outperformed on rate cut hopes.
Japan’s Nikkei 225 fell 0.5% and the TOPIX dropped 0.3% after data showed the economy contracted 0.7% year-on-year in Q1, far worse than the expected 0.2% drop. Sluggish exports and weak consumer spending contributed to the decline, although the weak data fueled expectations the Bank of Japan will maintain accommodative policy.
Hong Kong’s Hang Seng index led regional losses, falling over 1%, driven by a sharp 7.5% slide in Alibaba Group (NYSE:BABA, HK:9988) following a Q4 revenue miss and weaker-than-expected cloud business performance. JD.com (HK:9618) also declined nearly 2% as earnings highlighted fragile Chinese consumer sentiment amid persistent disinflation.
Despite Friday’s drop, Chinese and Hong Kong markets remained higher for the week, buoyed by optimism over a temporary U.S.-China tariff rollback. However, sentiment faded as investors awaited a more concrete resolution to trade tensions.
Mainland indexes also declined, with the CSI 300 and Shanghai Composite shedding 0.8% and 0.6% respectively. South Korea’s KOSPI was flat, while Singapore’s STI dipped 0.2% even after strong export data.
In contrast, Australia’s ASX 200 rose 0.6%, hitting a two-month high amid expectations that the Reserve Bank of Australia will lower interest rates next week.
India’s Nifty 50 Futures pointed to a muted open after the index touched a seven-month high earlier in the week.
While U.S. stock futures remained slightly negative, Asian equities were on track for weekly gains, supported by easing trade fears and dovish central bank expectations.
