South Korea’s Kospi climbed 1.35%, while Hong Kong’s Hang Seng added 0.8% and the Shanghai Composite edged up 0.2%. Conversely, Japan’s Nikkei Stock Average slipped 0.2%. This cautious optimism follows a sharp retreat in U.S. markets late Friday, fueled by earnings misses from Amazon and Intel that soured sentiment regarding the artificial intelligence sector.
In section Market Quotes
Asian Markets Diverge as Tech Selloff Recedes and Oil Prices Ease
Diplomatic overtures between Washington and Tehran have cooled energy markets, even as Asian equity traders struggle to find a unified direction following a bruising week for U.S. technology shares. Investors are now pivoting their attention toward imminent U.S. midterm elections and the persistent shadow of regional geopolitical volatility.
Energy markets reacted to reports that Vice President JD Vance reached out to Iran’s Mohsen Rezaei to revive stalled peace negotiations. West Texas Intermediate crude fell 2.0% to $102.05 a barrel, while Brent crude dropped 1.8% to $111.43. Analysts at ANZ Research warn that the upcoming U.S. midterm elections remain a critical pivot point, noting that President Trump has signaled potential military action against Iran following the vote. Lloyd Chan, a senior currency analyst at MUFG, noted that while diplomacy might lower current geopolitical premiums, any disruption near the Strait of Hormuz could trigger a rapid price reversal. Meanwhile, gold recovered slightly to $3,911.81 an ounce, and Asian currencies face pressure from high U.S. yields ahead of critical labor-market data.
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