Asian Stocks Set for Muted Open, Oil Holds Losses: Market…

President Trump announced ongoing discussions with Iran, labeling them a 'last chance before decapitation,' despite Iran's denial of any negotiations. In the financial markets, Asian stocks did not align with a tech-led rally in Wall Street, showing volatility especially in South Korean equities. The MSCI Asia Pacific stocks fell by 0.7%, with eight out of eleven industry groups experiencing losses. After a significant previous gain, the semiconductor sector dropped by 1%, and South Korea's Kospi index fell by 1.1% after an earlier rise.

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President Donald Trump says the US is talking with Iran, even though Iran denied negotiations were ongoing. He says these talks are a “last chance before decapitation.” Trump spoke to reporters in the Oval Office.Source: Bloomberg

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By Anand Krishnamoorthy and Winnie Hsu

August 3, 2026 at 10:13 PM UTC

Updated on August 4, 2026 at 4:07 AM UTC

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Asian stocks diverged from Wall Street’s tech-led rally as persistent volatility in South Korean equities underscored lingering concerns over the artificial intelligence trade. The yen slipped after its intervention-led gains.

MSCI’s gauge of Asia Pacific stocks dropped 0.7%, with eight of its 11 industry groups posting losses. The benchmark was heading for a second day of declines after surging 5% on Friday. A regional semiconductor gauge fell 1%, while Korea’s Kospi dropped 1.1% after earlier gaining 2.1%.

Read Original at Bloomberg.com →

Asian Stocks Set for Muted Open, Oil Holds Losses: Markets Wrap