Prudential, AIA and other HK insurers' shares slump on report China to tax offshore insurance income - The Business Times

• Saudi Arabia has issued a warning regarding imminent, coordinated attacks from Iraqi militias, Iran-backed Houthis, and the IRGC. • The anticipated strikes are expected to originate from the north, south, and east, specifically targeting civilian, economic, and energy infrastructure.

• Indian stock markets saw a decline, with the Sensex falling over 500 points and the Nifty dropping below the 24,600 mark. • Sectoral performance was mixed; while Nifty IT rose 0.76% and Auto, Defence, and FMCG gained, the Energy sector fell 0.70% and Bajaj twins shares dropped up to 4%.

• The Sensex and Nifty remained steady at midday, supported by positive sentiment surrounding ongoing diplomatic talks between Iran and Oman. • Market stability was further bolstered by the Reserve Bank of India's (RBI) decision to pause interest rates, despite mixed sectoral trends.

• On August 7, 2026, the Indian stock market saw a decline, with the Sensex dropping 400 points and the Nifty slipping to 24,560. • Individual stock performance was mixed, highlighted by a 13% surge in Siemens Energy and a 5.5% plunge for Bajaj Finance.

• Asian equities edged higher on Friday, August 7, with South Korea's Kospi and Japan's Topix leading the gains. • Oil prices jumped over 1% due to ongoing uncertainty and a stalemate regarding a lasting settlement in the Strait of Hormuz.

• The United States conducted a historic currency intervention to support the Japanese yen, blindsiding the European Central Bank (ECB) by selling euros to facilitate the purchase. • According to the Financial Times, the US only informed officials in Frankfurt after the transactions were completed, rather than coordinating in advance.

• Vodafone (VOD) announced in May 2024 that it would halve its dividend payments to shareholders. • The decision follows rising operational costs driven by energy price spikes linked to the war in Ukraine and the need for critical infrastructure upgrades.

• Record-breaking temperatures across Europe are placing significant pressure on food prices, supply chains, and heavily indebted national economies. • These climate challenges are compounding existing financial market instability caused by an energy shock linked to conflict in Iran.

• Indian equity benchmarks ended largely unchanged on Thursday, with the Nifty 50 edging up slightly by 0.05% during a muted weekly expiry session. • Market stability was influenced by mixed global cues, though optimism persists regarding a potential de-escalation in West Asia and strong Q1FY27 corporate earnings.

• Most Asian stock markets declined, led by a significant drop in tech-heavy indices as technology firms faced renewed selling pressure. • Tokyo's Nikkei fell approximately 2%, with major losses seen in chipmaker Kioxia (over 10%), Tokyo Electron (7%), and SoftBank (6%).

• Australia's trade balance shifted to a surplus in June, exceeding market forecasts due to a significant rebound in exports. • The growth was driven by increased iron ore shipments to China, Japan, and South Korea, as well as stronger coal exports to India, Japan, and China.