Asian stocks climb and oil prices slip as traders monitor Iran war developments
Summary
Asian stock markets rose on Friday, led by gains in technology companies, while oil prices fell slightly as traders watched conflict developments in Iran. Despite tensions and recent conflicts between the U.S. and Iran, markets in South Korea, Japan, and Hong Kong gained, and U.S. futures dipped a little.Key Facts
- South Korea’s Kospi index increased by 2.5%, partly due to gains in memory chipmaker SK Hynix.
- Tokyo’s Nikkei 225 rose 1.9%, with major jumps in SoftBank Group (10.5%) and Tokyo Electron (4%).
- Hong Kong’s Hang Seng index was up 1.8%, while Shanghai Composite fell 0.5% after recovering losses.
- Australia’s S&P/ASX 200 gained 0.5%, and India’s Sensex increased by 0.9%.
- Brent crude oil price fell 0.3% to $76.07 per barrel amid pressure on global oil supplies due to limited ship movements through the Strait of Hormuz.
- U.S. stock indexes rose on Thursday, with the S&P 500 increasing 0.8%, Dow Jones gaining 0.3%, and Nasdaq climbing 1.3%.
- Semiconductor stocks like Micron Technology, AMD, Marvell Technology, and ON Semiconductor showed strong gains.
- The U.S. dollar weakened against the Japanese yen and the euro.
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