Singapore, 30 July 2026 – Asian equities traded unevenly after a sharp technology-led sell-off as investors weighed strong corporate earnings against an uncertain US interest-rate outlook. The mixed session reflects a market struggling to price two powerful forces: the long-term growth promised by artificial intelligence and the higher discount rates that can reduce the present value of those profits.

The US central bank kept its policy rate unchanged, but disagreement among policymakers and limited forward guidance left markets uncertain about whether inflation could force tighter policy later in the year. Higher-for-longer rates would pressure equity valuations, increase borrowing costs and support the dollar, creating headwinds for emerging Asian assets.