Asian Stocks Mixed as Chip Selloff Hits KOSPI, Nikkei Ahead of US Jobs Data 
US Dollar Near Two-Month Low as Markets Await Inflation Data 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
China Inflation Cools in July as CPI Misses Forecast, PPI Deflation Eases 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
US Stock Futures Flat as Iran Strait of Hormuz Demands Fuel Oil Concerns 
Goldman Sachs Sees US Stock Buybacks Outpacing Equity Issuance as AI Funding Rises 
Gold Prices Surge 7% as Dollar Falls, Fed Rate Hike Bets Ease 
US Yen Intervention Unlikely to Deliver Lasting Recovery, Yardeni Says 
Oil Prices Rise as Hormuz Reopening Remains Uncertain 
Oil Prices Set for Steep Weekly Losses as Hormuz Deal Stalls 
Asian Stocks Rise as Weak US Jobs Data Eases Fed Rate Hike Bets 
South Korean Won Leads Asian FX Losses as Dollar Rises 
Trump Unveils $3 Billion U.S. Critical Minerals Push 
Iran-Oman Near Strait of Hormuz Deal as Shipping Tensions Persist 
Japan Posts First Current Account Deficit in 17 Months as Dividend Payments Surge 
Asian stock markets suffered steep losses on Monday as investors locked in profits from the booming technology and artificial intelligence sectors, while escalating tensions between Iran and Israel further weakened market sentiment. The sharp sell-off followed a weak finish on Wall Street, where major U.S. indexes declined after stronger-than-expected employment data fueled concerns that interest rates could remain elevated for longer.
South Korea’s KOSPI index emerged as the region’s biggest loser, plunging nearly 9% at one stage as heavyweight semiconductor companies came under intense selling pressure. Samsung Electronics and SK Hynix, which have been key drivers of the market’s strong performance this year, both declined amid broader weakness in chip and AI-related stocks. However, SK Hynix limited some losses after announcing a partnership involving advanced AI chips with NVIDIA.
Japan’s Nikkei 225 also recorded significant declines, dropping more than 3% as investors reassessed valuations across the technology sector. Major technology investor SoftBank fell sharply, while semiconductor-related firms such as SUMCO and Renesas Electronics posted double-digit losses. Japan’s broader TOPIX index also moved lower after revised economic data showed first-quarter GDP growth slowing to 1.8%, below earlier estimates of 2.1%.
The downturn extended across Asia as renewed military exchanges between Iran and Israel heightened geopolitical uncertainty. The latest airstrikes weakened hopes for a lasting peace agreement and pushed oil prices higher, creating additional pressure on regional equities. Chinese markets also moved lower, with the CSI 300 and Shanghai Composite indexes posting notable losses, while Hong Kong’s Hang Seng Index and Singapore’s Straits Times Index followed the regional decline.
Despite the broad sell-off, U.S. stock futures showed signs of stabilization during Asian trading hours, with S&P 500 and Nasdaq 100 futures edging higher. Investors are now closely watching developments in the Middle East, movements in oil prices, and upcoming Federal Reserve decisions, all of which could influence the direction of global markets and the future of the AI-driven stock rally.
