Asian Shares Climb on Chip Rally, Oil Jumps as Gulf Hostilities Resume
Semiconductor gains lifted regional indexes as Brent crude topped $80 a barrel and bond yields rose on renewed Gulf tensions.
- Asian shares climbed on Thursday as semiconductor stocks rallied, though gains were capped by a surge in oil prices as renewed Gulf conflict reignited inflation fears and hammered bonds.
- President Donald Trump declared the interim agreement with Iran "over" as military forces launched fresh strikes to "further degrade their ability to threaten freedom of navigation in the Strait of Hormuz," Central Command said.
- Investors bought into chipmakers, with South Korea's KOSPI jumping 3.8% behind a 7.5% surge in SK Hynix and a 3.6% gain in Samsung; Nvidia rallied 3.6% on reports China may allow H200 chip sales.
- Brent crude prices crossed above $80 a barrel, rising 9% this week, fueling bets the Federal Reserve will raise interest rates this year to tame inflation and pressuring global bond markets.
- Markets remain skewed toward the view that the conflict ultimately de-escalates, though traders are maintaining caution as the situation remains highly fluid, said Chris Weston, head of research at Pepperstone.
22 Articles
22 Articles
The Daily Advance
World shares mostly climb and oil prices slip as traders monitor Iran war developments
World shares have mostly advanced, with Asian stocks helped by buying of technology-related shares following a tech-led rally on Wall Street. Oil prices edged lower as traders watched for developments in the Iran war. U.S. futures are mixed. In South…
Chips lead the rise, shaking off the effects of the Middle East conflagration from stock markets - Oil nears $80 a barrel - Gold under pressure, copper rises on tech rally
On Thursday, East Asia's AI boom outfitters increased again after two weeks of spa crashes. Nasdaq's rising prices were the trigger.
New Strait Times
Asian shares climb on chip rally, oil jumps as Gulf hostilities resume
SYDNEY: Asian shares climbed on Thursday as semiconductors got a respite from heavy selling, though gains were capped by a surge in oil prices as a resumption of hostilities in the Gulf reignited inflation fears and hammered bonds.
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