The yen extended Monday’s rally to reach the strongest level since February, aided by rising expectations of a Bank of Japan interest-rate increase next week. Gains in South Korean chip stocks helped support Asian equities. Japan’s currency rose as much as 1% to 152.89 per dollar after appreciating 1.2% on Monday. The latest advance suggests the currency’s rally set in motion by the intervention push from Treasury Secretary Scott Bessent and Finance Minister Satsuki Katayama may be taking on a life of its own. The MSCI Asia Pacific Index of regional equities climbed 0.4% with Korea’s Kospi Index gaining 2.1%, buoyed by giant chipmakers SK Hynix Inc. and Samsung Electronics Co. Future contracts on the tech-heavy Nasdaq 100 Index rose 0.4. Oil extended Monday’s gains as traders watched for details of an Iranian deal with Oman to manage shipping through the Strait of Hormuz, while strong Chinese buying tightened the market. Global benchmark Brent crude gained 0.5% to $97.46 per barrel. Global stocks may now be poised for a period of consolidation as rising oil prices put pressure on central banks to raise interest rates, said Anastasia Amoroso, chief investment strategist at Partners Group. Higher energy prices are adding to inflation concerns as investors weigh the prospect of tighter monetary policy. A packed week of US data culminates with Friday’s US inflation report, which may prove pivotal to whether the Federal Reserve raises interest rates or stays on hold. The yen’s latest rally means it has now strengthened about 4.2% versus the dollar this month, the best performer among Group-of-10 currencies. Japan’s stance on currencies hasn’t shifted since it conducted joint intervention with its US counterparts, and authorities will work to maintain orderly markets, Finance Minister Katayama said at a briefing on Tuesday. She added that she will continue to maintain close contact with her counterpart at the US Treasury, Scott Bessent. Japan’s economy grew at a faster pace in the second quarter than initially estimated, a government report showed Tuesday. Wages, meanwhile, jumped the most in nearly three decades in July, supporting the case for a widely expected BOJ interest-rate hike when the central bank meets next week. Elsewhere, the Bloomberg dollar index slipped 0.1%, while the US Treasury 10-year yield fell one basis point to 4.77%. Gold rose as the dollar weakened, making bullion priced in the US currency more competitive for many buyers. Spot gold gained 0.7% to $4,433 an ounce. Copper surged to a record on the London Metal Exchange on Monday, extending a weeks-long rally driven by expectations that President Donald Trump will broaden US tariffs to imports of refined metal. While US economic data will likely provide the biggest catalyst for markets this week, earnings will also help shape the outlook for key equity sectors. Results from Oracle Corp. and Adobe Inc. on Thursday will offer a fresh read on AI infrastructure spending and the threat the technology poses to software makers.
Nikkei -071%% Hang Seng -0.27% CSI -0.18% Kospi +0.04% Shanghai +0.27% Shenzen +0.01%
Eur$ 1.1623 CNH 6.7096 CNY 6.7112 JPY 153.49 GBP 1.3537 CHF 0.8095 RUB 86.1787 TRY 48.4604 WTI$ 92.97 +1.62% Gold 4,433 +0.43% BTC 78,811 -0.48% ETH 2,482 -0.46%
S&P -0.17% Nasdaq +0.21% EuroStoxx -0.28% FTSE -0.15% Dax -0.27% SMI -1.28%
Macro :
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- Millennium Seeks Tax Deal to Expand Geneva Presence: FT
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Keep an eye on :
Keep an eye on :
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- SDZ SW : Sandoz Targets More Than Double 2025 Sales by 2035, Sandoz to Invest ~$300m in New Drug Substance Plant in Slovenia
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- TLGM : Telegram services gradually resume after thousands report outage
- TIT IM : Poste Raises Telecom Italia Offer in €11.35 Billion Deal
- UN0 GY : Germany Discusses Gas Storage Help With State-Owned Companies