S&P 500 — US Large Cap Index
FTSE 100 — UK Blue Chips
Euro Stoxx 50 — Eurozone Leaders
DAX 40 — German Equities
CAC 40 — French Market Index
Nikkei 225 — Japan Benchmark
Hang Seng — Hong Kong Index
Shanghai Composite — China Mainland
ASX 200 — Australian Market
TSX Composite — Canada Index
Nifty 50 — India Large Cap
STI Index — Singapore Market
KOSPI — South Korea Index
Bovespa — Brazil Equities
JSE Top 40 — South Africa Index
IPC Index — Mexico Market
- Asian stocks are mixed at the start of a new week despite hopes for a US-Iran peace deal.
- Selling in AI-linked shares weighs on KOSPI, while the Nikkei 225 falls amid a sharp JPY rally.
- Traders await further developments surrounding the US-Iran crisis and key US macro data.
Asian shares were mixed at the start of a new week as losses in South Korea’s KOSPI and Japan’s Nikkei 225 counter improving risk sentiment due to easing Middle East tensions. In fact, US President Donald Trump called off planned attacks on Iran over the weekend, claiming that Mideast allies have reached the parameters of a deal on Tehran’s nuclear program and the reopening of the Strait of Hormuz.
Trump further told reporters that the US and Iran are set to resume negotiations Monday afternoon, fueling optimism over a diplomatic resolution to end the five-month-old war. Adding to this, the OPEC+ decision on Sunday to increase production in September triggers a steep decline in crude oil prices and eases inflation fears. This, in turn, tempers bets for a more aggressive tightening by the US Federal Reserve (Fed) and further boosts investors’ confidence.
However, South Korea’s KOSPI slumped nearly 5%, reversing a part of Friday’s record 18% surge, amid a fresh wave of selling in Artificial Intelligence (AI)-linked technology shares. Japan’s Nikkei 225 also traded lower on the back of a sharp rally in the Japanese Yen (JPY) following confirmed joint currency-intervention measures by Japan and the US. Chinese markets, however, were resilient despite a weak private-sector survey of China’s manufacturing sector.
Furthermore, India’s Nifty50 rose around 0.80% as the focus remains on the Reserve Bank of India (RBA) policy decision later this week. Meanwhile, US equity futures moved higher as attention turns to the July employment report, popularly known as the Nonfarm Payrolls (NFP) report, and other important macro releases scheduled at the start of a new month. Apart from this, geopolitical developments might continue to infuse volatility across financial markets.
