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      Asian Markets Remain Cautious Ahead of Fed Chair's Speech

      Asian markets exhibited muted trading on Thursday as investors adopted a wait-and-see approach ahead of Federal Reserve Chair Kevin Warsh's upcoming speech at the Jackson Hole symposium. While the symposium opens Thursday evening US time, Warsh is scheduled to speak on Friday morning, leading to a cautious atmosphere across the region.

      In the Middle East, the UK Maritime Trade Operations agency reported that Iran struck a Kuwaiti oil tanker on August 25 while it was under US escort in the Strait of Hormuz. This incident marked a notable flashpoint in an otherwise quiet news flow from the region, with oil prices trading subdued in response.

      Economic data from Australia showed a significant increase in household spending, which rose 1.1% month-on-month in July, nearly tripling the forecast of 0.4%. This growth contributed to a stronger case for a potential rate hike by the Reserve Bank of Australia, especially following a recent hot CPI print. Meanwhile, China's industrial profit growth slowed to an annual rate of 11.2% in July, the lowest in seven months, indicating a potential loss of momentum in the AI-driven recovery of its industrial sector.

      © 2026 KLEA News. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

      Source: KLEA News

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