Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Asian Stocks Slip as Oracle Earnings Miss Sparks AI Profitability Concerns 
Gold Prices Slip Slightly in Asia as Silver Nears Record Highs on Dovish Fed Outlook 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
Indonesia–U.S. Tariff Talks Near Completion as Both Sides Push for Year-End Deal 
Asian Currencies Hold Steady as Indian Rupee Slides to Record Low on Fed Outlook 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
US Signals Openness to New Trade Deal as Brazil Shows Willingness, Says USTR Greer 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Ireland Limits Planned Trade Ban on Israeli Settlements to Goods Only 
Asian markets mostly declined on Wednesday, echoing Wall Street’s weak overnight performance as hotter-than-expected U.S. inflation data and renewed trade tariff threats from President Donald Trump rattled investor sentiment. Most indexes across the region slipped, weighed down by concerns over prolonged Federal Reserve rate hikes and global trade tensions.
Mainland Chinese markets underperformed after a mixed Q2 GDP report fueled fears of an extended economic slowdown. The Shanghai Composite and CSI 300 both dipped 0.2%. However, Hong Kong’s Hang Seng Index defied the regional trend, rising up to 0.8% on strong gains in tech stocks. Optimism surged after Nvidia (NASDAQ:NVDA) confirmed it would resume sales of its sought-after AI chips in China, sparking rallies in local AI giants like Baidu (NASDAQ:BIDU), Alibaba (NYSE:BABA), and Tencent.
Baidu further gained momentum with a 3% jump in its Hong Kong shares (HK:9888) following news of a global robotaxi partnership with Uber Technologies Inc (NYSE:UBER). Analysts say access to Nvidia’s chips could significantly boost China’s AI capabilities through leaders like ByteDance and DeepSeek.
Still, broader gains were limited due to economic worries from the mainland. Across Asia, Japan’s Nikkei 225 and TOPIX both fell 0.2%, while South Korea’s KOSPI declined 0.7%. Australia’s ASX 200 slid 0.9% on profit-taking near record highs. Singapore’s Straits Times edged slightly higher, and India’s Gift Nifty 50 Futures remained flat.
U.S. CPI data reinforced concerns over inflationary pressure from Trump’s trade policies, with the S&P 500 Futures down 0.1% in Asian trade. Trump’s latest move includes imposing 25% tariffs on imports from South Korea and Japan starting August 1, and a 19% duty on Indonesia, raising fears of escalating trade tensions across Asia.
