Asian Stocks Rise as AI Optimism Returns, Australia Hits Record High Ahead of RBI Decision 
UK Services PMI Returns to Growth in July as New Orders and Confidence Rebound 
US Stock Futures Hold Steady as Iran Hormuz Deal and Earnings Shape Market Sentiment 
Gold Price Hits Seven-Week High as Fed Rate Hike Bets Fade and Hormuz Deal Hopes Grow 
Asian Stocks Slip as AI Rally Fades, Oil Holds Steady on Iran Peace Deal Hopes 
Trump Says U.S.-Iran Talks Progressing as Hopes Rise for Strait of Hormuz Reopening 
Oil Prices Extend Three-Day Decline as Hopes Rise for U.S.-Iran Strait of Hormuz Deal 
European Stocks Near Record Highs as Earnings Strength Offsets Geopolitical Concerns 
Australia Trade Surplus Returns in June as Iron Ore, Coal and LNG Exports Surge 
Asian Currencies Mixed as Yen Retreats, Traders Eye U.S.-Iran Talks and Fed Data 
Gulf Shipping Traffic Steady as U.S.-Iran Talks Remain Uncertain 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
BOJ Minutes Signal More Rate Hikes as Inflation Risks Grow 
US Stock Futures Edge Higher as Tech Rally Continues Despite SpaceX and AMD Earnings Pressure 
Asian stock markets rallied on Friday as investors welcomed growing optimism over a potential Middle East peace agreement, easing concerns about global energy prices and inflation. The positive sentiment boosted equities across the Asia-Pacific region, while the U.S. dollar weakened, Treasury yields declined, and oil prices fell to their lowest levels in two months.
Investor attention is also focused on the historic market debut of Elon Musk’s SpaceX. The aerospace company completed the largest initial public offering (IPO) in history, raising a record $75 billion. The offering valued SpaceX at approximately $1.77 trillion, further cementing Musk’s status as the world’s first trillionaire.
Market optimism strengthened after U.S. President Donald Trump suggested that a peace deal involving Iran could be finalized as early as this weekend. Trump stated that negotiations had reached senior levels within Iran’s leadership and had gained support from key regional stakeholders. While previous diplomatic optimism has failed to produce a breakthrough, investors viewed the latest developments as a more credible step toward ending the three-month conflict.
The prospect of peace triggered a sharp decline in crude oil prices. U.S. West Texas Intermediate (WTI) crude fell 1.9% to $86.08 per barrel after dropping 2.6% in the previous session. Brent crude declined 1.5% to $89.08 per barrel, following an almost 3% overnight loss. Lower energy prices helped ease inflation concerns that had intensified during the conflict.
Asian equities responded strongly. Japan’s Nikkei 225 jumped 4.3%, Australia’s resource-heavy stock market gained 1.8%, and South Korea’s KOSPI surged 8.3%. Wall Street also posted significant gains overnight, with the Nasdaq rising 2.5%, supported by enthusiasm surrounding the SpaceX IPO.
Bond markets advanced as traders reduced expectations of additional Federal Reserve rate hikes. The probability of a rate increase in October fell to 36%, down from 51% previously. Two-year Treasury yields held near 4.07%, while benchmark 10-year yields remained around 4.46%.
The weaker dollar provided support for precious metals. Spot gold rose 0.2% to $4,222 per ounce after a strong overnight rally, while silver gained 0.3% to $67.52 per ounce. Meanwhile, the Japanese yen strengthened modestly, although traders remain alert to potential intervention from Japanese authorities as USD/JPY continues to hover near the critical 160 level.
