**Wall Street Extends Rally on Rate Cut Hopes; S&P 500 Closes Above 5,800 for First Time**
U.S. equities hit fresh all-time highs as softer JOLTS data fueled expectations for a September Federal Reserve rate cut.
**China’s Shanghai Composite Slips 0.4% on Lingering Property Sector Concerns**
The CSI 300 fell as Evergrande’s restructuring plan faced new legal hurdles, offsetting gains in EV makers.
**Japan’s Nikkei 225 Rises 1.2% on Weaker Yen; Exporters Lead Gains**
Toyota and Sony surged as the yen slid past 162 against the dollar, boosting repatriated earnings outlooks.
**Euro STOXX 600 Hits Two-Week High as ECB Dovish Comments Lift Sentiment**
The pan-European index gained 0.8% after ECB’s Schnabel signaled a potential September rate cut.
**Crude Oil Drops 2% on Demand Fears After China’s Weak Import Data**
Brent crude fell to $84.50/bbl after China reported a surprise drop in June oil imports, the first decline in four months.
**Gold Edges Higher to $2,375/oz as Dollar Weakens on Rate Cut Bets**
Bullion gained 0.5% as real yields slipped, with traders eyeing U.S. CPI data later this week.
**Bitcoin Breaks $68,000, Reaching One-Month High on ETF Inflow Momentum**
The largest cryptocurrency rose 3% amid net inflows into spot Bitcoin ETFs for the fifth consecutive day.
**U.S. Dollar Index Dips to 104.80 as Markets Price in Two 2024 Fed Cuts**
The greenback fell broadly after the U.S. job openings report fell to a three-year low of 7.9 million.
**China’s Yuan Weakens to 7.29 Against Dollar Despite PBOC Fixing Support**
The offshore yuan hit a seven-month low as the central bank set a weaker-than-expected daily midpoint.
**Bank of Japan Holds Fire, Keeps Rate at 0.1%; Yen Slips Further**
The BOJ maintained its ultra-loose stance, disappointing hawks who expected a July hike signal.
**UK’s FTSE 100 Flat as Energy Stocks Offset Gains in Homebuilders**
BP and Shell declined with oil prices, while Taylor Wimpey rose 1.5% on upbeat housing data.
**South Korea’s KOSPI Surges 1.8% on Tech Earnings Optimism**
Samsung Electronics hit a record high ahead of its Q2 earnings release, driven by AI chip demand.
**Australian Dollar Jumps 0.8% After RBA Minutes Hint at Possible Rate Hike**
The RBA’s discussion of a 25bp increase boosted the AUD to $0.6750, the highest in two weeks.
**U.S. 10-Year Treasury Yield Falls to 4.18%, Lowest Since March**
Bond yields dropped sharply as the JOLTS data reinforced expectations of a cooling labor market.
**India’s Nifty 50 Closes at Record High as Foreign Inflows Accelerate**
The benchmark index rose 0.9%, led by financials, as FIIs bought $1.2 billion in Indian equities this week.
**European Natural Gas Prices Spike 5% on Norwegian Maintenance Outages**
TTF futures rose to €35/MWh after unplanned shutdowns at two key Norwegian gas processing plants.
**Argentina’s Merval Index Plunges 4% as IMF Talks Stall Over Fiscal Reforms**
The peso parallel rate weakened to 1,400 per dollar after the government failed to secure a new loan tranche.
**Singapore’s GDP Shrinks 0.8% Quarter-on-Quarter, Missing Estimates**
The surprise contraction in Q2 was driven by a sharp slowdown in manufacturing and trade-related services.
**Turkey’s Lira Hits Another Record Low at 33.50 Against Dollar**
The currency weakened 0.3% as the central bank’s rate hike cycle failed to stem capital outflows.
**Global Hedge Funds Turn Net Long on Chinese Tech for First Time in 2024**
Goldman Sachs prime brokerage data shows funds added exposure to Alibaba and Tencent on valuation dips.