On Friday (7 August, 9:49 AM, GMT+7, Bangkok time), major indices in the Asia Pacific showed divergent performance as investors monitored developments in the Middle East following Iran’s announcement of a potential new policy targeting the Strait of Hormuz.
According to local news outlets, Iranian authorities are considering a draft agreement aimed at imposing tighter controls over the key maritime corridor. Under the proposed measures, ships associated with the United States and Israel would face new restrictions, and certain nations classified by Iran as adversaries could be required to offer compensation to gain passage.
This coincides with statements from both U.S. and Iranian leaders suggesting that progress toward an agreement may be underway. President Donald Trump commented that negotiations are proceeding positively.
Attention within financial markets is now shifting toward the upcoming U.S. employment data, set for release on Friday. Analysts polled by Bloomberg forecast a July increase of 80,000 jobs, after June’s report showed a lower-than-expected rise of 57,000 positions.
Traders view the forthcoming payrolls data as an important gauge of labor market conditions and a potential signal for future Federal Reserve policy decisions.
Japan’s NIKKEI declined by 0.98% to 65,039.16. South Korea’s KOSPI fell by 0.95% to 6,236.64, and Australia’s ASX 200 slid by 0.15% to 9,257.40.
As for stocks in China, Shanghai’s SSEC rose by 0.39% to 3,915.46. Shenzhen’s SZI grew by 1.25% to 14,286.37, while Hong Kong’s HSI dropped by 0.26% to 25,464.32.
The U.S. stock markets edged down on Thursday as the Dow Jones Industrial Average (DJIA) contracted 0.85% to 53,885.10. NASDAQ dipped by 0.06% to 26,348.35, and S&P 500 lost 0.18% to 7,709.96. VIX slumped by 4.17% to 15.15.
As for commodities, oil prices settled higher on Thursday following reports that a committee within Iran’s parliament is considering legislation that would prohibit U.S. and Israeli ships from transiting the Strait of Hormuz. Brent crude futures ended the session $3.04 higher, or up 3.83%, closing at $82.49 per barrel. U.S. West Texas Intermediate futures rose by $2.07, a gain of 2.75%, to settle at $77.29 per barrel.
This morning, Brent futures advanced $1.08, or 1.31%, to $83.57 per barrel, and the WTI futures added 89 cents, or 1.15%, to $78.18 per barrel.
Meanwhile, gold futures increased by 0.26% to $4,310.90 per Troy ounce.
