Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Oil Prices Drop as Strait of Hormuz Shipping Recovers 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Australia Jobs Growth Strengthens Rate Hike Outlook 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Asian Markets Rally as Micron and Qualcomm AI Outlook Lifts Global Tech Stocks 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Asian markets were mostly subdued on Tuesday as investors assessed the fragile U.S.-China trade truce and growing concerns over renewed technology tensions. South Korea’s KOSPI led regional losses, retreating sharply after a record-setting rally, while investors in Australia awaited the Reserve Bank of Australia’s (RBA) latest interest rate decision.
On Wall Street, stocks ended mixed overnight, supported by gains in the tech sector following a $38 billion cloud partnership between Amazon and OpenAI. However, U.S. stock futures slipped slightly during Asian trading hours, signaling investor caution amid ongoing geopolitical uncertainty.
Tensions resurfaced after U.S. President Donald Trump announced that Nvidia’s next-generation Blackwell AI chips would be reserved for domestic use, effectively restricting exports to China. In a “60 Minutes” interview, Trump emphasized that these advanced chips would “stay in the U.S.,” highlighting the persistence of tech export curbs even after the recently agreed one-year trade truce. The move raised fresh concerns over potential supply-chain disruptions and the impact on China’s technology sector.
Following the Trump-Xi summit in South Korea, Chinese Ambassador to the U.S. Xie Feng urged Washington to respect Beijing’s “red lines,” stressing that while the truce has “recalibrated” relations, tensions could easily reignite if issues such as Taiwan and human rights are challenged.
In regional markets, China’s CSI 300 slipped 0.5%, while the Shanghai Composite dipped 0.3%. Hong Kong’s Hang Seng Index was flat, and Japan’s Nikkei 225 was little changed after a holiday, though the TOPIX rose 0.4%. Singapore’s Straits Times Index edged down 0.2%, and India’s Nifty 50 futures also moved slightly lower.
Attention turned to the RBA, which was widely expected to keep rates unchanged at 3.60% amid sticky inflation. Investors are watching closely for signals on potential rate cuts in 2026 as global economic uncertainty lingers.
