Asia bounces back as oil cools
Asian stocks recovered as oil’s three-day rally paused and hopes grew that the US-Iran conflict may not drag on.
Stocks rebound
• MSCI Asia Pacific: +1.1%
• Japan Topix: +1%
• Shanghai Composite: +0.4%
• ASX 200: +0.5%
• Nasdaq 100 futures: +0.2%
Oil rally takes a breather
• Brent slipped to around $95.40
• Easing oil prices reduced some inflation pressure
• Markets now look ahead to Friday’s US jobs report
Yen jumps
• Yen strengthened 0.6% to 157.83 per dollar
• Traders are watching for possible intervention
• BOJ rate-hike expectations are also rising
AI stocks lift sentiment
Chip stocks including Renesas and SK Hynix gained after Broadcom pointed to strong AI chip demand over the next two years.
What markets are watching
Middle East tensions, oil prices, the yen and Friday’s US jobs report remain key drivers for markets.