M8.7 Russian east coast/Pacific quake
Tsunami alert after >Mag 8 earthquake off east coast of RussiaMassive earthquake – magnitude 8.7, Russia east coastTsunami warnings have been issued across much of Japan’s eastern coastlineTohoku Elec. Says no tsunami impact to Onagawa nuclear plantHonolulu Emergency Management orders evacuation of coastal areasTsunami warnings continue to proliferate following the massive Russian earthquakeReports that workers at stricken Fukushima nuclear plant evacuate after tsunami warningHawaii State of Emergency re approaching tsunami
Other:
BofA raised its year-end targets for Japan’s Topix and NikkeiGold Futures Technical Analysis and Price Prediction Before Today’s FOMC Press ConferenceSamsung Electronics is reportedly revisiting plans to invest $7 billion in the USChina to refocus government investment funds on strategic sectorsChinese investors pulling money out of gold-backed ETFs at a record pace (via Bloomberg)A Fed Governor Waller FOMC dissent today to be seen as effort to curry favour with TrumpAustralian dollar marked lower on CPI data – RBA August rate cut appears locked inAustralia Q2 2025 Headline CPI 2.1%y/y (expected 2.2%) Trimmed mean 2.7%y/y (exp 2.7%)PBOC sets USD/ CNY central rate at 7.1441 (vs. estimate at 7.1742)New Zealand July business confidence 47.8% (prior 46.3%)Monetary Authority of Singapore leaves policy unchangedIn complex systems like the economy the errors aren’t noise — they’re the signalChina finance minister signals more proactive fiscal support amid rising uncertaintyJP Morgan: Lower tariffs on U.S. exports may benefit other countries more than the U.S.US law to ban Trump from trading stocks is being opposed by … the White HouseBank of America sees soft July jobs report, warns market may misread the signalsIts rate cut time! Chile’s central bank cuts by 25bp.SEC approves in-kind creation for crypto ETPs, aiming to boost market efficiencyUBS says its too early to become complacent on tariffs – wary of current optimismInvestinglive Americas FX news wrap 29 Jul:US/China talks end. The ball is in Trumps courtOil: private survey of inventory shows a headline crude oil build vs. draw expectedNo record closes today in the major indices. Stocks take a breather ahead of FedVisa Q3 2025 earnings solid beat: strong cross-border growth, resilient consumer spend
The major headline during today’s session was a massive magnitude 8.8 earthquake off Russia’s east coast, triggering tsunami warnings across the Pacific. It is the strongest quake since Japan’s 2011 disaster and ranks among the largest in recorded history. Waves up to four metres above tide levels have already hit parts of the Russian coastline. Lower-magnitude surges are expected across Japan, China, the U.S. West Coast, Ecuador, Chile, Costa Rica, French Polynesia, Guam, Hawaii, and other Pacific nations. Our thoughts are with those affected — please stay safe.
Monetary policy was in focus in Singapore, where the Monetary Authority of Singapore (MAS) left policy settings unchanged, following stronger-than-expected Q2 GDP growth. MAS said it would maintain the current rate of appreciation in the Singapore Dollar Nominal Effective Exchange Rate (S$NEER) band, with no change to its width or centre. (More on MAS’s unique exchange-rate-based framework is in the post.)
From Australia, quarterly CPI data came in either in line or below expectations, reinforcing the case for a 25bp cash rate cut by the Reserve Bank of Australia at its next meeting on August 11–12:
Headline CPI rose at its slowest pace in over four years
Core inflation hit a fresh three-year low
Markets are now pricing in over 100% probability of a cut next month.
In China, Finance Minister Lan Fo’an said the government will expand fiscal support to boost domestic consumption and counter mounting economic challenges. That message was reinforced later with news that Beijing will strengthen coordination between national and local government investment funds to better align with key development priorities.
In FX, the U.S. dollar traded broadly weaker against major currencies. The Japanese yen outperformed, with USD/JPY falling back below 148.00. The Australian dollar dipped briefly on the soft CPI report but was soon bid back.
Asia-Pac
stocks:
Australia
(S&P/ASX 200) +0.6%Hong
Kong (Hang Seng) -0.3%Japan
(Nikkei 225) flatShanghai
Composite +0.45%
This article was written by Eamonn Sheridan at investinglive.com.