Finura

13/07/2026

Asian stock markets fell on Monday with South Korean shares tumbling more than 5%, as renewed tensions in the Middle East drove oil prices sharply higher, dampening investor appetite for risk and dragging technology stocks lower.

Futures tracking U.S. equities also pointed lower, with tech-heavy Nasdaq futures leading losses.

Get premium Asian stock market insights with InvestingPro subscription

KOSPI slides over 5% on tech losses
South Korea's benchmark KOSPI dropped more than 5%, extending its recent selloff as heavyweight chipmakers came under renewed pressure.

Samsung Electronics (KS:005930) shares slid nearly 7%, while SK Hynix (KS:000660) slumped 11%.

Japan's Nikkei 225 fell 1.3%, while the broader TOPIX index dipped 0.8%.

Investor sentiment deteriorated after geopolitical tensions flared again over the weekend.

Iran on Sunday expanded missile and drone attacks to Gulf states in retaliation for U.S. military strikes. It also declared the Strait of Hormuz closed.

The U.S., however, disputed Iran's claim, with President Donald Trump saying commercial shipping through the waterway remained open under U.S. protection.

Brent crude climbed more than 3% in Asian trading on Monday, reigniting fears that higher energy costs could fuel inflation and complicate the outlook for global interest rates.

Technology shares, which have powered much of Asia's market gains this year, were among the biggest drags as investors reduced exposure to high-valuation sectors.

13/07/2026

02/07/2026

Sterling today: Pound firms as dollar softens ahead of U.S. jobs data
Sterling traded at a two-week high on Thursday while the euro rebounded off one-year lows, as the dollar softened ahead of U.S. jobs data after new Fed Chair Kevin Warsh gave no fresh hawkish signal at a Sintra panel appearance.

Track real-time FX moves and central bank signals on InvestingPro - 60% off
GBP/USD rose to $1.3310, up 0.25% as of 08:04 ET (12:04 GMT) while EUR/USD climbed to $1.1402, up 0.21%

"It looks like FX and interest rate markets…..were getting a little ahead of themselves in expecting confirmation of hawkish views from Kevin Warsh at Sintra yesterday," said Chris Turner, Global Head of Markets and Regional Head of Research for UK & CEE at ING.

Turner noted that when the panel produced no hawkish rhetoric, "US short-dated rates dropped 5-6bp and the dollar sold off," though those moves have since been retraced. "Warsh seems happy to let the data drive market expectations and keep the monetary policy debate in-house for FOMC meetings," he added.

Attention now turns to Thursday’s US June non-farm payrolls report, with consensus around over 115,000 and a whisper number near 140,000; the unemployment rate is expected to hold at 4.3%.

Turner said the dollar "can remain relatively supported" barring a big miss and large downward revisions, with the DXY sitting mid-range and capable of testing 101.50/80 on a 100k+ print.