Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
SpaceX Eyes Starlink Mobile Phone Service to Challenge Verizon, AT&T, and T-Mobile 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
China Expands Export Controls, Adds 20 Japanese Companies to Restricted List 
Wall Street Ends Lower as AI Stocks Drag Markets, Fed Rate Outlook Shifts 
Gold Price Falls as Fed Rate Hike Fears and U.S.-Iran Tensions Weigh on Bullion 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
Japan Targets 1%+ Real Economic Growth With ¥370 Trillion Investment Plan 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Asian stocks declined Thursday as concerns over high U.S. interest rates and fresh trade tariffs dampened investor sentiment. Hong Kong’s Hang Seng led the losses, falling 2.2%, as enthusiasm for AI stocks waned.
Wall Street provided a mixed lead, with the S&P 500 hitting a record high but showing limited gains due to weaker risk appetite. U.S. stock futures slipped after President Donald Trump announced plans to impose 25% tariffs on automobiles, pharmaceuticals, and semiconductors within a month, along with new duties on lumber.
Trade-sensitive markets reacted sharply. Japan’s Nikkei 225 dropped 1.7%, while the TOPIX lost 1.5%. Major automakers Toyota and Honda both fell over 2% as concerns grew over their reliance on U.S. sales. South Korea’s KOSPI declined 0.6%, and Singapore’s Straits Times Index edged down 0.1%. Australia’s ASX 200 slid 1.3%, hit by both tariff concerns and stronger-than-expected job data, which reinforced expectations of a hawkish Reserve Bank of Australia.
Hong Kong’s tech sector took a hit, with Baidu dropping over 2% after weak earnings, dragging Alibaba down 2.5%. While optimism over AI had driven Chinese tech stocks higher in recent weeks, market momentum faded.
Mainland Chinese markets also weakened, but losses were limited amid expectations of further stimulus from Beijing. The People’s Bank of China kept its loan prime rate at record lows. The Shanghai Shenzhen CSI 300 fell 0.4%, and the Shanghai Composite lost 0.2%.
Despite the market downturn, hopes for a potential U.S.-China trade deal provided some support. However, Trump’s earlier 10% tariffs on Chinese goods in February remain a headwind for the region’s economic outlook.
