Public Markets 3 Hours

Last updated: August 2, 2026, 11:32 PM ET

Asian Markets and Currency Interventions

Japan’s Ministry of Finance intervened in the foreign-exchange market to buy the yen on Friday U.S. time, acting in concert with the U.S. Treasury Department. Politics may be behind coordinated U.S.-Japan intervention in the yen, State Street Investment Management said. The Japanese government has vowed to intervene again with the U.S. over the yen if needed, with Finance Minister Satsuki Katayama confirming joint action with Washington to counter "disorderly movements." A buildup in speculative bets against the yen before Japan’s latest intervention may amplify the currency’s rebound if traders unwind those positions, analysts say. Treasury Secretary Scott Bessent’s championing of a Federal Reserve facility Japan can use to boost the yen comes with the benefit of protecting the US bond market from excess sales.

Chinese Economic Indicators and Debt Markets

China’s manufacturing activity slowed in July for export-oriented firms, according to a private survey, in line with an official gauge. Chinese government bond futures began trading in Hong Kong on Monday, marking authorities’ third attempt to use the hedging tool to further open up the country’s debt market.

Indian IPO Market and Fixed Income

India’s initial public offering boom is fading, with proceeds down by a fifth from a year earlier as companies cut deal sizes, accept lower valuations and delay listings, raising doubts about sustainability. Manipal Health Indo-MIM and Juniper Green Energy have cut offer sizes to get their deals through. India’s equity-market close is about to align with major global peers. For arbitrage funds, that alignment could come at a cost. India’s short-dated bonds will outperform debt with long duration, as the central bank is expected to keep interest rates on hold and banks are set for a large cash surplus, according to traders.

South Korean Equities and Corporate News

South Korean stocks slipped, as heavyweight chipmakers faced selloffs after Friday’s record gains while investors unwound leverage-backed trades. South Korea’s world-beating stock market surged in January, authorities saw a chance to attract more capital and bolster the won by offering high-risk products for adrenaline-loving retail investors. Fanuc Corp. shares plunged the most in four decades after the maker of factory robots raised its profit outlook by less than expected, heightening fears about soaring prices of materials. A regional environmental regulator in Australia has recommended tougher license conditions for two liquefied natural gas export facilities operated by Inpex Corp. and Santos Ltd.

Commodity Markets and Broader Economic Pressures

Iron ore sank to the lowest level in more than a year amid concerns about a major physical trader of the commodity, which compounded existing market softness linked to a challenging demand outlook. Gold rose on technical rebound, with the direction of the U.S. dollar, U.S. Treasury yields and incoming U.S. labor market data expected to affect gold’s trends more than the traditional safe-haven narrative. Reports from tech giants drove big gains and losses, while the Fed-fueled bond selloff adds to market pressures.