📈 Asian Stocks Gain & Oil Prices Rise Amid Gulf Shipping Strains

• Global Market Performance: Asian equity markets tracked Wall Street higher following soft U.S. jobs data, which reduced expectations of a near-term Federal Reserve rate hike (September probability fell to 44% from 67%). Japan’s Nikkei surged 2.0%, South Korea rose 1.1%, and MSCI Asia-Pacific ex-Japan edged up 0.8%. Chinese blue-chip stocks fell 0.4% due to weaker-than-forecast July inflation data. • Energy Sector & Shipping: Brent crude increased 1.0% to US$ 84.40/bbl, and U.S. crude gained 0.8% to US$ 78.80/bbl as shipping traffic through the Strait of Hormuz remained minimal. Iran noted a shipping lane agreement with Oman is in final stages, but reopening remains conditional on U.S. actions—posing potential import cost pressures for global trade and energy-dependent economies like Sri Lanka. • Corporate Earnings & AI: S&P 500 year-over-year earnings per share grew 30% (excluding Alphabet and Amazon investment gains). The AI & technology sector led performance with median EPS growth of 28%, compared to 12% for non-AI firms. • Bonds & Commodities: Gold stabilized at US$ 4,320/oz after a 7% gain last week, while 10-year U.S. Treasury yields held at 4.662% ahead of US$ 125 Bn in new bond issuance.