Gold Drops Below $4,000 as Strong US Dollar and Fed Rate Hike Expectations Pressure Bullion 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Iran Attack in Strait of Hormuz Pushes Oil Prices Higher 
Morgan Stanley Sees Chinese Auto Market Recovery Gaining Momentum in Late Summer 
US Dollar Slips After PCE Inflation Data Eases Fed Rate Hike Expectations 
Asian Stocks Sink as Apple Price Hikes Spark AI Valuation Fears, South Korea and Japan Lead Selloff 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Australia Jobs Growth Strengthens Rate Hike Outlook 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
Wall Street Ends Mixed as Micron Surges, Apple Drops After Price Hikes 
South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Wall Street Ends Mixed as Tech Stocks Struggle Ahead of Micron Earnings 
Japan’s Nikkei 225 share average reversed gains on Thursday after briefly surpassing the key 60,000 level, as investors moved to lock in profits following an early surge fueled by technology stocks and optimism surrounding an extended Iran-U.S. ceasefire. Despite the initial rally, market sentiment weakened amid lingering geopolitical concerns and softer U.S. stock futures, prompting a pullback in Japanese equities.
The Nikkei index dropped 1.06% to close the morning session at 58,952.11, retreating from its record high of 60,013.98 reached earlier in the day. The broader Topix index also declined by 1.2% to 3,700.1, reflecting widespread selling across the Tokyo Stock Exchange.
Investor confidence had been supported by news that U.S. President Donald Trump agreed to extend the ceasefire with Iran indefinitely following mediation efforts by Pakistan. However, uncertainty remains in the Middle East, as tensions persist with the U.S. Navy maintaining a blockade of Iranian ports and Iran reportedly seizing two vessels in the Strait of Hormuz. These developments continue to impact oil prices and global market stability.
Market analysts noted that while optimism over easing conflict initially boosted stocks, further gains may depend on stronger economic fundamentals and improved domestic demand. The rally in Japanese equities has largely been driven by a narrow group of AI-related and semiconductor stocks, including SoftBank Group and Advantest, raising concerns about market breadth.
The NT ratio, which compares the Nikkei 225 to the Topix, recently hit a record high, highlighting the uneven performance between large-cap tech stocks and the broader market. During Thursday’s session, chip-related shares lost momentum, with Advantest and Tokyo Electron slipping slightly, while SoftBank Group trimmed gains but remained higher.
Out of approximately 1,600 stocks listed on the Tokyo Stock Exchange’s prime market, only 23% advanced, while 72% declined, signaling cautious investor behavior. The combination of profit-taking, geopolitical risks, and weaker global cues contributed to the market’s volatile performance.
