Asian Shares Mostly Rise After AI Leads Rally on Wall Street
Brent crude rose to $89.67 a barrel as attacks on Iran and a Houthi strike raised fears over key shipping lanes, analysts said.
- Brent crude rose 0.9% to $89.67 early Wednesday as tensions flared in the Middle East, following an attack by Iran-backed Houthi rebels on a vessel in the Bab el-Mandeb strait near Yemen.
- The United States and Israel attacked Iran in late February, leading to the closure of the Strait of Hormuz and constraining global oil supplies. Last month alone, Brent's price veered between $72 and $102 per barrel.
- Higher oil prices exacerbate inflation, driving the average cost for a gallon of regular gasoline to $4.01 according to AAA, up from less than $3.14 a year ago.
- Wall Street's focus turns to Wednesday's monthly inflation data release, with economists expecting inflation to slip to 3.4% in July from 3.5% in June, potentially relieving pressure on the Federal Reserve.
- Iran has rejected President Donald Trump's comment that since Iran is seeking compensation as part of any talks on ending the war, he would demand the same.
45 Articles
45 Articles
CNBC Daily Open: Middle East tensions send oil higher while Iran-U.S. tensions escalate
Concerns over supply disruptions pushed oil prices higher, amid news of recent deadly attacks on vessels in the Gulf of Oman and the Red Sea, and as a spill near Oman worsens.
From Gift Nifty to Kospi rally, oil prices: 7 key things that changed for Indian stock market overnight
Gift Nifty was trading around the 24,423.50 level, down nearly 50 points from the Nifty futures’ previous close, indicating a flat start for the Indian stock market indices.
Seoul shares open sharply higher on chip rally
Korean shares opened sharply higher Thursday, led by gains in major chipmakers, tracking an overnight gains in U.S. technology stocks. After opening 2.96 percent higher, the benchmark Korea Composite Stock Price Index (KOSPI) traded up 290.02 points, or 4.41 percent, at 6,869.06 as of 9:15 a.m. The benchmark Korea Composite Stock Price Index (KOSPI) opened 194.88 points, or 2.96 percent, higher at 6,773.92. Overnight, U.S. stocks tied to the art…
The KOSPI index opened in the 2% range on the 13th, continuing its upward trend for the fourth consecutive day. This is attributed to reduced concerns over interest rate hikes following the overnight slowdown in U.S. consumer price inflation, coupled with a resurgence in investor sentiment toward artificial intelligence (AI). As of 9:05 AM on this day, the KOSPI index was trading at 6,838.74, up 3.95% (259.70 points) from the previous trading da…
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