Key Takeaways
- Gold prices surged 1% to a new milestone of $4,430.15/oz, driven by weak U.S. employment data and increased central bank purchasing.
- Singapore’s Straits Times Index (STI) hit a historic record high of 5,748.28, fueled by a 0.9% jump in heavyweight banking stocks.
- Apple (AAPL) is reportedly moving forward with a "glass-centric" iPhone overhaul for its 20th anniversary, despite previous analyst reports of a cancellation.
- China’s commercial banks are offloading over $8.2 billion (55 billion yuan) in bad credit-card debt to clean up balance sheets amid a slowing domestic economy.
- South Korea and the U.S. issued a joint advisory on "Gunra" ransomware, a double-extortion threat targeting critical infrastructure and financial sectors.
Precious Metals and Equities
Gold prices climbed to $4,430.15 per ounce on Tuesday, marking a significant 1% rise as investors reacted to cooling U.S. labor market data. The rally is further supported by robust inflows into gold-backed ETFs and sustained buying from the Chinese central bank.
In equity markets, Singapore’s Straits Times Index (STI) surged 0.9% to reach an all-time high of 5,748.28. The rally was spearheaded by the city-state's dominant banking trio—DBS (D05), OCBC (O39), and UOB (U11)—which continue to benefit from resilient earnings and strong institutional demand.
Corporate Developments: Apple and Diageo
Apple (AAPL) is still planning a radical "glass-centric" redesign for the iPhone’s 20th anniversary in 2027, according to sources familiar with the matter. This report directly counters a recent Jefferies analyst note suggesting the project had been scrapped due to manufacturing hurdles.
Meanwhile, Diageo (DGE) faces regulatory headwinds in India, where authorities seized approximately 18,000 boxes of whisky and vodka. The crackdown, led by the FSSAI, targets plastic PET bottles that allegedly lack mandatory "recycled" symbols, affecting major brands like Smirnoff and VAT 69.
Financial Sector and Macroeconomics
China’s banking sector is aggressively disposing of non-performing loans (NPLs), with lenders like China Everbright Bank and Agricultural Bank of China listing over $8.2 billion in distressed credit-card debt. This move comes as China's GDP growth slowed to 4.3% in the second quarter, putting pressure on consumer credit quality.
In New Zealand, the Reserve Bank (RBNZ) raised no objection to the appointment of Ben Kelleher as the new CEO of ANZ Bank New Zealand (ANZ). Kelleher, currently the Chief Risk Officer, will succeed Antonia Watson following her retirement in September 2026.
Cybersecurity and Geopolitical Risks
The FBI and South Korean authorities released a joint advisory regarding "Gunra" ransomware. This "Ransomware-as-a-Service" operation uses a double-extortion model, encrypting data while threatening to leak sensitive information from government and healthcare institutions if ransoms—often exceeding $10 million—are not paid.
In Russia, a fire was reported at an oil refinery in the Far East, located more than 6,000 kilometers from the Ukrainian border. Simultaneously, the logistics hubs of major Russian retailer Wildberries were reportedly targeted again, highlighting the expanding geographic reach of infrastructure disruptions.
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications.