Asian Stocks Rally as Tech Rebounds, China Lags on Nvidia Competition Concerns 
Asian Currencies Steady as Fed Delivers Hawkish Rate Cut; Aussie and Rupee Under Pressure 
Fed Near Neutral Signals Caution Ahead, Shifting Focus to Fixed Income in 2026 
Mexico Moves to Increase Tariffs on Asian Imports to Protect Domestic Industries 
ADB Approves $400 Million Loan to Boost Ease of Doing Business in the Philippines 
Wall Street Futures Slip as Oracle Earnings Miss Reignites AI Spending Concerns 
Australia’s Labour Market Weakens as November Employment Drops Sharply 
Russia Stocks End Flat as Energy and Retail Shares Show Mixed Performance 
Japan Weighs New Tax Breaks to Boost Corporate Investment Amid Spending Debate 
Fed’s Dovish Tone Sends Dollar Lower as Markets Price In More Rate Cuts 
S&P 500 Slides as AI Chip Stocks Tumble, Cooling Tech Rally 
Wall Street Futures Dip as Broadcom Slides, Tech Weighed Down Despite Dovish Fed Signals 
Asian Stocks Slip Ahead of Fed Decision as China Deflation Concerns Deepen 
Oil Prices Rebound in Asia as Venezuela Sanctions Risks Offset Ukraine Peace Hopes 
Brazil Holds Selic Rate at 15% as Inflation Expectations Stay Elevated 
Hong Kong Cuts Base Rate as HKMA Follows U.S. Federal Reserve Move 
Modi and Trump Hold Phone Call as India Seeks Relief From U.S. Tariffs Over Russian Oil Trade 
Asian stocks ticked up on Thursday, lifted by optimism over Nvidia’s (NASDAQ:NVDA) brief surge to a $4 trillion market cap and expectations of U.S. interest rate cuts later this year. The MSCI Asia-Pacific index (excluding Japan) rose 0.2%, as investors shrugged off U.S. President Donald Trump’s latest tariff threats targeting copper imports and several countries, including Brazil and Japan.
Despite Trump's announcement of a 50% copper tariff starting August 1 and a similar threat against Brazil, market reaction was muted. Japan’s Nikkei slipped 0.56%, while China’s CSI300 gained 0.2% and Hong Kong’s Hang Seng edged up 0.1%. U.S. futures dipped slightly in Asian trade, with S&P 500 and Nasdaq futures down 0.2%.
Nvidia's valuation milestone reinforced strong investor sentiment toward AI stocks. Meanwhile, Fed minutes released Wednesday showed most policymakers anticipate rate cuts later this year, suggesting any inflation shock from tariffs will likely be temporary. This buoyed risk appetite as investors bet on looser monetary policy.
The U.S. dollar weakened against major currencies, falling 0.4% versus the yen to 145.79, while the euro rose to $1.1742 and the pound to $1.3605. The Brazilian real neared a one-month low at 5.5826 per dollar following tariff threats.
Bitcoin hovered near its all-time high at $111,234.63, with ether up 1.3% to $2,775.54. OKX Singapore’s CEO noted investors are focusing on digital assets with real-world utility, with Bitcoin remaining the top choice.
In commodities, Brent crude dipped 0.16% to $70.08, U.S. crude fell 0.22% to $68.23, and spot gold rose 0.3% to $3,322.69, reflecting cautious optimism across global markets.
