Morning Bid: Ceasefire? What ceasefire? By Reuters

• Asian stock markets remained steady, with the MSCI Asia Pacific Index recovering after an initial decline of nearly 1% at the market open. • The market volatility follows a rise in oil prices triggered by U.S. military strikes against targets in Iran.

• Asian stock markets declined as a deepening selloff in AI chips pressured regional indices, pushing South Korea's KOSPI close to a bear market. • While Chinese equities remained largely flat, Hong Kong’s Hang Seng and Singapore’s FTSE Straits Times bucked the trend, rising nearly 3% and 1% respectively.

• The Sensex and Nifty 50 indices plummeted over 2% on July 8, 2026, following remarks from Donald Trump regarding Iran. • The market decline was primarily triggered by investor fears that geopolitical tensions would lead to a surge in global oil prices.

• U.S. markets are currently reacting to a surprisingly weak June employment report, which has strengthened expectations that the Federal Reserve will maintain a patient approach toward further policy tightening. • The Bank of Japan (BOJ) is maintaining flexibility to intervene in the government bond market or adjust operations to counter excessive yen fluctuations and ensure financial stability.

• Chinese stocks traded in Hong Kong have surged 7%, outperforming global peers after previously trailing most markets, including Indonesia, during the first half of the year. • Conversely, South Korea's Kospi index has plummeted, recording a 15% loss and falling to the bottom of global league tables after an initial period of strong growth.

• The Euro (EUR/USD) showed modest gains, trading around 1.1410 during Asian hours on Wednesday after experiencing slight losses the previous day. • The currency's movement comes as the US Dollar remains sideways, reflecting a period of general market caution.

• European shares declined on Wednesday, driven by renewed tensions in the Middle East and rising oil prices that dampened investor sentiment. • The losses were most significant within the airline, banking, and automotive sectors, while technology stocks showed mixed results due to concerns over the AI-driven rally.

• FactSet stock rose 0.84% to reach $252.20 today, coinciding with the company's promotion of the StreetAccount Daily Podcast. • Technical analysis shows a low probability (less than 20%) of further price increases, as only one of four key W1 indicators (RSI W1) currently signals a "Buy."

• Prime Minister Modi is embarking on a three-nation tour to test and refine India's strategic overseas vision. • Market trends show iron ore prices have dropped below pre-war levels, while BHEL is seeing a revival through strong orders, though execution remains a critical challenge.

• The FTSE 100 closed up 0.13% at approximately 10,663 points on Tuesday, July 7, 2026, defying a broader downward trend across European markets. • Gains in Shell and financial stocks helped the index recover from Monday's 0.28% dip, offsetting a global sell-off in the semiconductor sector.

• Lexology Pro outlines key regulatory shifts facing global in-house and compliance teams heading into Q3 2026. • Major developments include the conclusion of the European Union’s MiCA transitional period and the implementation of new non-financial misconduct rules for UK financial institutions.