Canada Backs €100 Billion Global Defence Bank 
Gold Prices Rebound as Fed Rate Hike Bets Rise 
Asian Currencies Mixed as Yen Nears 160, Oil Surges 
Gold Prices Steady as U.S.-Iran Tensions Lift Inflation Risks 
RBNZ Raises Interest Rate to 2.75%, Kiwi Dollar Slides 
Asian Stocks Fall as Fed Rate Hike Bets and Iran Conflict Rattle Markets 
Ukraine Seeks Early EU Funds to Cover $27B Defence Gap 
Bessent Urges Japan on Fiscal Discipline, BOJ Rate Hikes 
South Korea Unveils Record $597 Billion 2027 Budget to Boost AI and Chips 
German Retail Sales Drop 3.4% in July 
Australia Current Account Deficit Widens to A$27.2 Billion 
South Korea Inflation Rises to 3.1% in August 
Oil Prices Jump as U.S.-Iran Tensions Threaten Hormuz 
Bank of England Sees Surge in Higher-Risk Collateral 
Asian Stocks Slip as Fed Rate Hike Bets and Oil Surge Weigh 
Oil Prices Rise as U.S.-Iran Fighting Fuels Supply Fears 
Oil Prices Rise as US-Iran Conflict Threatens Middle East Supply 
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Asian stocks fell sharply on Wednesday as surging oil prices drove global bond yields higher and intensified concerns that central banks could keep interest rates elevated. Japan and South Korea led the regional selloff, while Wall Street futures also weakened.
Japan’s Nikkei 225 dropped 2.7%, while the broader TOPIX declined 2.2%. Investors are closely watching the Bank of Japan’s policy decision later this month after Governor Kazuo Ueda said policymakers would continue assessing potential interest rate increases based on economic and inflation trends.
The comments followed a meeting between Ueda and U.S. Treasury Secretary Scott Bessent, with Washington calling for decisive monetary measures to address persistent weakness in the yen.
South Korea’s KOSPI slid 3%, with major technology stocks Samsung Electronics and SK Hynix falling more than 3%.
Market pressure intensified as Brent crude futures climbed toward $96 per barrel after reaching a five-week high. Higher energy prices have renewed inflation concerns and raised fears that prolonged supply disruptions could force central banks to maintain tighter monetary policy.
Bond yields jumped alongside oil prices. The U.S. 10-year Treasury yield climbed to 4.804%, its highest level since January 2025, while Japan’s 10-year government bond yield touched 3%. Rising yields weighed particularly heavily on technology and growth stocks.
Chinese markets also retreated, with the Shanghai Composite and CSI 300 losing about 1% each. Hong Kong’s Hang Seng fell 1.4%.
Elsewhere, Australia’s economy expanded 0.4% quarter-on-quarter in the second quarter, bringing annual GDP growth to 2.1%. The stronger-than-expected figures reinforced expectations that the Reserve Bank of Australia could raise interest rates again this year. The S&P/ASX 200 declined about 1.2%.
In New Zealand, the Reserve Bank of New Zealand raised its official cash rate by 25 basis points to 2.75%, marking its second consecutive increase as policymakers sought to contain inflation. The NZX 50 nevertheless edged 0.2% higher.
Singapore’s Straits Times Index slipped 0.1%, while futures tracking India’s Nifty 50 also moved slightly lower.
