03/08/2026 Daily Reports
Asian markets opened mixed this morning as three major macro catalysts triggered massive volatility across currencies, commodities, and tech equities:
- Yen Soars on Rare US-Japan Joint Intervention: Authorities confirmed coordinated action to support the Japanese Yen, pulling USD/JPY down from recent 40-year lows near 164 toward 155.20. While a stronger Yen eases import cost inflation for Japan, it hit Japanese exporters hard, dragging the Nikkei 225 down 1.9%.
- Oil Prices Crash 5%+ on Middle East De-Escalation: Crude prices tumbled abruptly (WTI down 4.8% to $80.58; Brent down 5.0% to $83.87) after President Trump announced a pause on strikes against Iran, signaling an impending diplomatic resolution to regional conflicts.
- Asian Tech Volatility & Kospi Hangover: Following Friday’s historic 17.9% surge, South Korea’s Kospi pulled back 4.5%. Semiconductor giants Samsung (-8.0%) and SK Hynix (-7.8%) saw sharp profit-taking after their previous +25% single-day rallies.
- Big Tech Earnings: AI Execution vs. Supply Bottlenecks: Wall Street’s earnings season is separating AI winners by execution:
- Amazon (+15.3%) & Microsoft: Soared as accelerating cloud revenues proved massive AI CAPEX investments are finally translating into bottom-line profits.
- Apple (-7.4%): Slipped despite beating earnings, hobbled by component supply constraints in the AI supply chain.
- Memory & Chips (Micron): Experiencing extreme intra-day swings as markets re-price semiconductor valuations.
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Global markets started the week with improved risk sentiment as geopolitical tensions eased. Oil prices declined sharply after U.S. President Donald Trump postponed further military action against Iran, while gold gained on safe-haven demand. Investors are now focused on this week’s U.S. employment data and major corporate earnings. Interest rate expectations, bond yields, and central bank signals remain the key drivers for financial markets.
- Nasdaq. The Nasdaq Composite closed Friday a gain of 0,60%, after strong Amazon earnings offset weakness in Apple; with around 300 S&P 500 companies reported, roughly 85% have beaten estimates. Palantir reports today, and SpaceX is due to deliver its first quarterly results since listing. US labour-market data dominates the week, culminating in Friday’s payrolls report.
- DAX. Frankfurt opened August at a record high, with Iran and economic data cited as the session’s focus. The index closed Friday at 25,629 having set an all-time high of 25,927.60 in July; the July advance exceeded 2%, driven by a technology rebound, broadly positive earnings and sharply lower oil prices. German inflation accelerated to 2.8% in July from 2.3%, while unemployment rose to 6.4%.
- Nikkei. Tokyo stocks fell, with the Nikkei 225 closing at 62703 down 1.4%, as electronics and auto shares were sold following coordinated US-Japan yen-buying intervention that lifted the currency and removed weak-yen support for exporters. On semiconductor and AI rebound after the Bank of Japan held rates unchanged at 1%. Separately, 44% of Japanese companies operating in China reported deteriorating conditions in the first half of 2026.
- Brent. Brent for October fell as much as 5.3% to $82,62 a barrel after President Trump said he had called off a large-scale attack on Iran at the request of Middle Eastern allies including Saudi Arabia; OPEC+ also raised production quotas modestly. Trump stated new talks with Iran would begin Monday, though Iranian Foreign Ministry spokesman Esmaeil Baghaei said no negotiations are currently taking place.
