South Korea equities surging at the open, Kospi up more than 5%

Tech stocks tumble $1.3T on AI jitters, but futures hint at a bounce. Oil prices hit new lows.

investingLive Asia-Pacific FX news wrap: Bleak Friday for Asian equites, Korea down 8%

Tokyo shares down ~4%, South Korea down ~6%. Fingers pointing at OpenAI IPO delay AUD and Kiwi slapped lower too.

Gold will recover to US$5,200 an ounce over the next 12 months as the Fed moves toward rate cuts and the dollar weakens, UBS says, calling the current pullback a buying opportunity.

DJT hits new lows, down 50% YTD. The Trump premium fades as valuation concerns mount.

Tokyo core-core CPI rose to 1.9% in June as energy-driven inflation began spreading to food and other goods, keeping a July BOJ hike firmly in view. Tokyo's inflation is no longer just an energy story

PBOC sets USD/ CNY reference rate for today at 6.8166 (vs. estimate at 6.8015). PBOC injects 231.5bn yuan through 7-day reverse repos at an unchanged rate of 1.4%.