ASIAN PRE-MARKET SNAPSHOT – MONDAY, Asian markets are set for a mixed open after a volatile weekend, as a stronger yen and Apple's supply warning offset Friday's US tech rally. 🇺🇸 US MARKETS – FRIDAY CLOSE All three major indices closed higher, driven by Microsoft's 15.5% surge and a broad semiconductor rebound: · $Dow: 52,485.03 (+0.53%) · S&P 500: 7,489.72 (+0.70%) · $Nasdaq: 25,373.85 (+1.00%) The caution: The $VIX dropped sharply to 17.09, but the $Russell 2000 fell -0.50% – the rally was A.I.-driven, not broad-based. 🇯🇵 JAPAN – NIKKEI SET FOR GAP UP, BUT WATCH THE YEN $Nikkei futures are pointing to a historic gap-up open above 63,500 (cash close: 61,867). But the move is largely short-covering after US semi stocks surged. Three headwinds: · Yen surged 3 yen to ~¥157.4 after U.S. Treasury signals of coordinated intervention · Apple fell 7.83% after hours on supply shortage warnings · Kioxia PTS dropped 2,000 yen after its Q2 profit missed consensus Expected range: 63,000–64,500. The risk: a "gap and fade" pattern if yen strength and profit-taking weigh. 🇰🇷 KOREA – KOSPI EYES STABILISATION After Friday's historic 17.9% surge, the $KOSPI is expected to hold gains but volatility remains elevated. Foreign investors recorded the largest single-day net purchase in KOSPI history on July 31 (₩8.79T), heavily concentrated in Samsung and SK Hynix. August range forecasts: · KB Securities: 5,500–8,000 · Samsung Securities: 6,000–8,000 🇭🇰 HONG KONG – HANG SENG FACING PRESSURE Hang Seng futures closed at 25,941 (57-point premium to cash). But the index has now fallen for three consecutive weeks, with resistance at 26,000. August historical trend: The Hang Seng has declined in August in 8 of the last 10 years. Tech-heavy ADRs and night session pointed lower, with a low of 24378 for night futures. 🇨🇳 CHINA – SHANGHAI SET FOR MODEST OPEN A-shares are expected to open lower. The A50 index fell -0.35% overnight, offsetting US tech strength. Morning session scenario: A small gap down, with semiconductors and communications seeing a brief rally before profit-taking. The benchmark is expected to trade in a 3,800–3,850 range. 🇦🇺 AUSTRALIA – $ASX 200 HOLDING GAINS The ASX 200 is trading at 9,010, on track for a fourth straight month of gains after adding 2.60% in July. It sits roughly 2% below its 52-week high. THE BIG PICTURE U.S. tech is rallying, but yen strength and Apple's supply warning are clouding the Asian open. The KOSPI is stabilising after a historic rebound, but volatility remains high. This week's U.S. jobs data will be the real test – Friday's nonfarm payrolls will shape the Fed's September decision.