Oil Prices Drop as Strait of Hormuz Shipping Recovers 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
Gold Prices Fall Below $4,000 as Strong Dollar, Fed Rate Hike Bets Weigh on Bullion 
Trump Threatens 100% Tariffs on Countries Imposing Digital Services Taxes on U.S. Tech Firms 
US Dollar Slips After PCE Inflation Data as Fed Rate Hike Expectations Stay Elevated 
Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Australian Household Spending Rebounds Strongly in May as Travel and Dining Drive Consumer Growth 
World Bank Approves $1.1 Billion Emergency Funding for Bangladesh Amid Food and Energy Price Pressures 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Gold Prices Rise Above $4,000 as Inflation Data and Weaker Dollar Boost Demand 
Oil Prices Rise as US-Iran Tensions Threaten Strait of Hormuz Oil Shipments 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Asian stocks climbed on Tuesday, with Hong Kong leading gains as optimism over China’s economic stimulus and growing confidence in AI innovation fueled a rally in major tech stocks.
Hong Kong’s Hang Seng Index jumped nearly 2% to a three-year high, driven by a 10% surge in Baidu (NASDAQ:BIDU) after launching two new AI models. Alibaba (NYSE:BABA) gained over 4% following reports that its 2025 performance metrics will focus on AI-driven growth. BYD Co (HK:1211) also hit a record high after unveiling fast-charging EV technology.
China’s broader markets advanced, with the Shanghai Shenzhen CSI 300 and Shanghai Composite adding 0.3% and 0.2%, respectively. Investors welcomed Beijing’s stimulus plans, boosting confidence in a 2025 economic recovery.
Japanese stocks outperformed, with the Nikkei 225 up 1.6% and the TOPIX rising 1.5%. Warren Buffett’s Berkshire Hathaway increased its holdings in Japan’s five largest trading houses—Itochu Corp. (TYO:8001), Mitsui & Co. (TYO:8031), Mitsubishi Corp. (TYO:8058), Sumitomo Corp. (TYO:8053), and Marubeni Corp. (TYO:8002)—to nearly 10%, fueling strong gains.
Markets also focused on the Bank of Japan’s upcoming meeting, where the central bank is expected to hold rates but adopt a hawkish tone amid signs of economic resilience.
Elsewhere, Australia’s ASX 200 rose 0.2%, South Korea’s KOSPI gained 0.3%, and Singapore’s Straits Times Index surged 0.9%. India’s Nifty 50 futures pointed to a positive open, tracking regional momentum.
Despite strong stock market gains, U.S. stock index futures dipped in Asian trading as investors remained cautious over trade tariffs, a potential recession, and an upcoming Federal Reserve meeting. Meanwhile, heightened geopolitical tensions in the Middle East dampened risk appetite.
