RBI Uses $10 Billion Currency Swaps to Drain Excess Rupee Liquidity 
Oil Prices Jump 3% as Houthi Attack Revives Supply Fears 
Asian Stocks Fall as Bond Yields Surge Ahead of Trump-Xi Summit 
Soybean Futures Slip as Traders Await Trump-Xi Trade Signals 
European Stocks Fall as Bond Yields and Geopolitical Risks Weigh 
Oil Prices Fall on U.S.-Iran Hormuz Deal Hopes 
Asian Currencies Mixed as Dollar Holds Near Two-Month High 
Japanese Bank Stocks Surge as Bond Yields Fuel Rate Hike Bets 
Mexico-US Trade Talks Delayed to October as Tariff Negotiations Continue 
Japanese Yen Rebounds as Trump Flags Currency Weakness 
Dollar Holds Near Two-Month High as Yen Approaches 160 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Wall Street Ends Flat as Oil, Treasury Yields and Fed Jitters Rattle Markets 
China Agrees to Buy 20 Million Tons of U.S. Coal 
Fed Unveils Stablecoin Rules Under GENIUS Act 
Fed’s Hammack Says Bond Yield Surge Is Not Driven by Inflation Fears 
Gold Holds Near $4,275 as Rising Treasury Yields Fuel Fed Rate Hike Bets 
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Asian stocks opened the week with mixed performance, as U.S. President Donald Trump’s new 25% tariffs on steel and aluminum imports pressured markets. Concerns over escalating trade tensions weighed on investor sentiment, with China set to impose retaliatory tariffs on U.S. goods.
South Korea’s KOSPI slipped 0.1%, with steelmakers hit hard—POSCO Holdings (NYSE:PKX) fell nearly 2%, and Hyundai Steel (KS:004020) dropped 2.5%. Japan’s Nikkei 225 edged 0.2% lower, while TOPIX declined 0.3%, with Nippon Steel (TYO:5401) down 1.5%. Australia’s S&P/ASX 200 dipped 0.4%, led by a nearly 1% drop in the mining sector. Indonesia’s Jakarta Composite plunged 2%, while India’s Nifty 50 started 0.4% lower.
Despite trade war tensions, China’s AI stocks extended their gains, driving optimism. Hong Kong’s Hang Seng Index surged 1.5%, fueled by tech leaders—Baidu (NASDAQ:BIDU) climbed 3.5%, Alibaba (NYSE:BABA) jumped over 4%, and Xiaomi (HK:1810) rose 1.5% after a record-high close. China’s Shanghai Composite advanced 0.4%, while the CSI 300 was flat.
Investors also analyzed China’s latest inflation data, which showed moderate CPI growth but persistent PPI declines, signaling weak consumer spending and industrial activity. This raised expectations for further economic stimulus, with potential interest rate cuts or infrastructure investments on the horizon.
Meanwhile, U.S. stock index futures traded higher in Asian hours, offering some relief amid global market uncertainty.
