Asian stocks steady as oil rises after US strikes Iran - The Business Times

• Indian benchmark indices traded largely flat on July 28, 2026, with the Sensex closing 117.52 points (0.15%) lower at 76,718.26 and the Nifty 50 dropping 32.45 points (0.14%) to 23,963.50. • The range-bound movement followed a previous session rebound sparked by a significant decline in crude oil prices.

• Global futures markets declined as a significant sell-off in technology stocks continued, leading to a sharp downturn in semiconductor investments. • The South Korean Kospi index experienced a severe crash, plummeting 10% and triggering a trading halt to stabilize the market.

• Stock futures are surging ahead of Monday's open following a period of losses last week and a rebound in chip stocks. • Oil prices are plunging as the U.S. and Iran halted strikes over the weekend, signaling a cooling of tensions in the Middle East.

• Wall Street futures are trading mixed as investors balance anticipation for upcoming mega-cap earnings reports and the Federal Reserve's next policy decision. • Chip stocks are facing significant pressure due to concerns over AI financing and increased competition from China, contributing to a slump of over 10% in South Korea’s KOSPI.

• Asia-Pacific markets rallied on Monday due to a decline in oil prices after a pause in US-Iran fighting. • Industrial profits in the region rose 15.1% year on year in June, with first-half earnings increasing 18.7%.

• The Thai government maintained the VAT rate at 7% on 27 July 2026 to reduce living costs and boost consumer spending. • Thai exporters face a 2.5% price gap due to the U.S. 12.5% import levy on Thai products under Section 301.

• Asia stocks have tumbled due to a deepening AI rout and China's advancements in the chip industry. • Key companies such as Microsoft, Meta Platforms, Apple, and Amazon are set to release quarterly results amidst the market turmoil.

• Crude oil prices have extended losses due to US-Iran peace talks, with Brent crude below $90 per barrel. • The GIFT Nifty indicates a flat opening, potentially tempered by softer Asian sentiment, despite the market regaining some confidence.

• Asian chip stocks have declined due to fears of increasing competition from China in the AI trade. • CXMT is seen as a rising competitor, particularly in commodity DRAM, although it still lags behind Korean competitors in HBM.

• Indian benchmark indices, the Sensex and Nifty 50, traded largely flat or slightly lower on July 28, with the Sensex down 49.60 points (0.06%) to 76,786.18 by 1:31 p.m. • The range-bound movement follows a previous session's rebound sparked by a significant drop in crude oil prices.

• European shares remained subdued on Tuesday as a global selloff in technology stocks was offset by gains in luxury and consumer sectors. • Market stability was further supported by a decline in oil prices, balancing the volatility seen in the tech industry.

• Central banks shifted from accommodative to restrictive policies over the last six months to combat inflation and ensure price stability. • The Bank of England maintained its policy rate at 3.75% in June 2026, following a 0.1% economic contraction in April and steady inflation of 2.8%.