Asian Markets Rise as Tech Stocks Rebound Despite Oil Tensions
Asian markets moved higher on Wednesday, led by a rebound in technology stocks, even as Middle East tensions kept investors cautious.
Brent crude climbed above US$90 a barrel, extending recent gains as fears of supply disruption intensified amid ongoing US-Iran strikes and threats to key shipping routes.
Despite the geopolitical backdrop, equities advanced as investors moved back into chipmakers following a recent sell-off.
The MSCI Asia Pacific index rose around 1%.
South Korea’s Kospi jumped roughly 3%, while Taiwan’s Taiex gained around 2%, with both markets lifted by strength in semiconductor stocks.
Japan’s Nikkei 225 climbed about 1.5%, supported by technology names.
In China, mainland markets edged up around 0.5%, while Hong Kong’s Hang Seng added close to 1%.
Wall Street also closed higher overnight, with the S&P 500 rising 0.6%, the Dow Jones gaining 0.4% and the Nasdaq adding 0.8% as investors rotated back into technology shares.
