Norway Backs Barents Sea Oil and Gas Expansion 
Qatar LNG Exports Plunge 96% as U.S.-Iran War Disrupts Gulf Energy Trade 
China EV Stocks Slide as Door Handle Recall Hits 4.3 Million Vehicles 
U.S. Unleashes New Iran Sanctions, Targets Oil, Crypto and Trade Networks 
RBA Debated Rate Hike as Inflation Risks Persist 
Indian Sugar Stocks Surge on Tight Supply, Festive Demand 
Dollar Near Multi-Month Lows as Treasury Buybacks Rattle Markets 
ING Says Yen Is 20% Undervalued Against Dollar 
Europe EV Sales Surge as High Fuel Prices Drive Demand 
Asian Stocks Slide as Samsung, Alibaba Lead Tech Selloff 
Trump Vows Tougher Iran Sanctions as US Weighs New Economic Pressure 
Gold Hits Three-Month High as Treasury Moves Fuel Rally 
Asian Stocks Slip Ahead of Nvidia Earnings and US Inflation Data 
Asian Currencies Slip as Dollar Rebounds on Iran Sanctions 
Oil Prices Edge Higher as US-Iran Sanctions Fuel Supply Concerns 
Asian Energy Stocks Slide as Iran-Oman Hormuz Talks Pressure Oil Prices 
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Asian stocks mostly advanced on Wednesday as lower oil prices eased inflation concerns and technology shares recovered ahead of Nvidia’s highly anticipated earnings report.
The MSCI Asia Pacific index gained about 1%, led by a 2.1% rise in South Korea’s KOSPI. Japan’s Nikkei 225 climbed 0.8%, while the TOPIX added 0.5%. Hong Kong’s Hang Seng rose 0.7%, China’s CSI 300 gained 1.1%, and the Shanghai Composite advanced 0.7%.
Technology and semiconductor stocks drove much of the rebound after last week’s selloff, which was fueled by elevated Treasury yields and concerns over stretched artificial intelligence valuations. SK Hynix gained 2.8% and Samsung Electronics rose 3.1%, while Taiwan Semiconductor Manufacturing added 0.8%. In China, SMIC jumped 4.4%, Xiaomi climbed 4.3%, Meituan gained 2.2%, and Alibaba advanced 1.5%.
Investor attention is firmly on Nvidia, which is expected to report quarterly revenue of roughly $92 billion later Wednesday. Markets are looking for evidence that massive spending on AI infrastructure is delivering sufficient returns. Nvidia shares rebounded on Wall Street after a seven-session losing streak.
Regional sentiment also benefited from falling oil prices. Brent crude dropped about 2.6% to roughly $86.25 a barrel after Iran and Oman discussed an interim framework for restoring some shipping through the Strait of Hormuz. Brent has fallen around 8.5% this week, reducing fears of another energy-driven inflation shock.
Australia bucked the regional rally after inflation came in hotter than expected. Consumer prices increased 3.5% year over year in July, exceeding forecasts of 3.3%, while trimmed mean inflation remained at 3.6%. The figures increased expectations for a Reserve Bank of Australia rate hike in September, sending Australian bond yields higher and supporting the Australian dollar. The S&P/ASX 200 slipped about 0.2%.
Investors are also awaiting the Bank of Thailand’s interest-rate decision, with policymakers widely expected to keep the benchmark rate unchanged at 1%. In the U.S., focus will shift to the latest PCE inflation data, while Federal Reserve Chair Kevin Warsh’s Jackson Hole speech on Friday could provide fresh signals on the interest-rate outlook.
