Asian markets today: Asian stocks mostly traded in green on Thursday, September 3, tracking overnight gains on Wall Street as easing tensions between the US and Iran boosted investor sentiment across the region.
South Korea’s Kospi advanced 0.86%, while the small-cap Kosdaq declined 0.19%. Japan’s Nikkei 225 was largely unchanged, while the broader Topix gained 0.65%. Australia’s S&P/ASX 200 edged up 0.12%, while Hang Seng futures indicated a 0.5% rise.
Why Asian markets rising today?
The advance came after a stronger performance on Wall Street, where the S&P 500 snapped a three-session losing streak, while the Nasdaq 100 gained 0.2%. Technology stocks continued to attract attention after Broadcom projected a sharp increase in demand for artificial intelligence chips over the next two years.
Oil prices eased after US President Donald Trump sought to downplay concerns over a prolonged conflict with Iran. He said any further US strikes on Iran were unlikely to continue for long and reiterated that Washington had control over the Strait of Hormuz, a key passage for global crude shipments.
Brent crude declined 0.6% to $95.10 a barrel, while West Texas Intermediate (WTI) fell 0.4% to $90.66 a barrel.
The decline in crude prices also offered support to the bond market during US trading hours, with US Treasury yields retreating from the multi-year highs reached earlier in the week.
In the currency market, investors continued to monitor the Japanese yen following its sharp gains in New York trading, when it strengthened to 158.22 per dollar before paring some of the advance.
The yen was trading near 158.83-158.86 per dollar in early Asian trading on Thursday. Market participants remained cautious about the prospect of another intervention by Japanese authorities if the currency experiences another sharp move.
The improved sentiment represented a reversal from the beginning of September, when renewed hostilities involving Iran had driven oil prices higher and pushed global bond yields up. The moves had intensified concerns over inflation and boosted expectations that the Federal Reserve could raise interest rates this month.
US stock market today
US equity futures were largely flat on Wednesday evening after Wall Street’s major averages ended a three-session losing streak. The recent decline had been driven by rising Treasury yields amid renewed fighting between the U.S. and Iran.
S&P 500 futures edged up 0.02%, while Dow Jones futures rose 19 points, or 0.04%. Nasdaq 100 futures also gained 0.03%.
In regular trading on Wednesday, all three major indexes closed higher. The Dow Jones Industrial Average climbed nearly 300 points, or around 0.6%, while the S&P 500 and Nasdaq Composite each advanced about 0.5%, bringing an end to their three-day slide.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.
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