Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
China Sets 1.25% Overnight Reverse Repo Rate Below Market Expectations 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Economic pessimism has set in – but there are reasons for Australians to be hopeful 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Gold Price Ends Lower for Fourth Week Despite Rebound as Fed Rate Hike Bets Strengthen 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
China Factory PMI Seen Returning to Growth in June as AI Export Demand Supports Economy 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
Asian Markets Drop as U.S. Treasury Yields Pressure Tech Stocks
Asian stocks slipped on Thursday, weighed down by rising U.S. Treasury yields and weak regional economic data. Tech-heavy indexes in South Korea and Hong Kong were among the worst performers, tracking Wall Street’s overnight decline as investors reacted to higher yields and risk aversion.
U.S. Tech Losses Hit Asian Markets
South Korea’s KOSPI dipped 0.2%, and Hong Kong’s Hang Seng index fell 0.7%, both hit hard by tech sector losses. Rising U.S. Treasury yields pushed markets to expect slower interest rate cuts from the Federal Reserve, further dampening investor sentiment.
South Korea's economic outlook worsened as its third-quarter GDP growth missed expectations, while Japan's economy showed signs of contraction in both manufacturing and services sectors. The Nikkei 225 index gained slightly, but the TOPIX fell 0.2% following weaker-than-expected Purchasing Managers' Index (PMI) data.
Bright Spots in Tech Amid Broader Declines
Despite broader market losses, South Korea’s SK Hynix Inc. rose 1% after reporting record earnings driven by strong demand in artificial intelligence (AI) chips. Horizon Robotics saw an impressive debut on the Hong Kong stock market, with shares surging 28% following its $696 million IPO—the largest in Hong Kong this year.
China and India Show Mixed Market Trends
Chinese stocks also dipped, with the Shanghai Composite and CSI 300 losing 0.4% and 0.6% after a four-day rally on optimism surrounding government stimulus measures. Meanwhile, Australia’s ASX 200 rose 0.3%, helped by growing service sector activity, while Indian markets are set for a positive opening after three days of declines, buoyed by key earnings reports.
