On Friday (5 June, 9:26 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific retreated, mirroring declines on Wall Street, after enthusiasm surrounding artificial intelligence stocks cooled from earlier record levels. A key factor behind the pullback was a weaker-than-expected sales outlook for AI chips from Broadcom Inc., which disrupted the rally in the semiconductor sector.
Investors are now turning their attention to the upcoming U.S. employment data. The results are expected to play a significant role in shaping market expectations regarding future actions by the Federal Reserve and the potential direction of the AI-driven equity rally.
In energy markets, oil prices had dropped amid investor optimism for a possible diplomatic resolution between the U.S. and Iran, prompted by a conditional ceasefire agreement reached between Israel and Lebanon.
U.S. President Donald Trump stated that ceasefire discussions are nearing completion, while Iran’s foreign minister indicated that talks had reached an impasse. Earlier in the week, Iran had launched missile and drone attacks targeting Kuwait and Bahrain. The strikes, which followed a U.S. attack on an oil tanker destined for Iran, resulted in one casualty and multiple injuries at Kuwait’s principal airport.
Japan’s NIKKEI fell by 1.46% to 66,484.45. South Korea’s KOSPI slumped by 4.05% to 8,289.38, and Australia’s ASX 200 decreased by 0.55% to 8,638.10.
As for stocks in China, Shenzhen’s SZI dropped by 0.31% to 15,613.52. Hong Kong’s HSI lost 0.53% to 25,120.55, while Shanghai’s SSEC climbed by 0.08% to 4,061.06.
The U.S. stock markets were mixed on Thursday as the Dow Jones Industrial Average (DJIA) surged 1.73% to 51,561.93. S&P 500 grew by 0.41% to 7,584.31, while NASDAQ dipped by 0.09% to 26,830.95. VIX plummeted by 4.11% to 15.40.
As for commodities, oil prices settled lower on Thursday as investors responded to prospects of reduced conflict in the Middle East amid a ceasefire agreement between Israel and Lebanon. Brent crude dropped $2.78, closing at $95.03 per barrel, a decrease of 2.84%. U.S. West Texas Intermediate crude fell by $2.98, or 3.1%, ending the session at $93.04 per barrel.
This morning, Brent futures rose 50 cents, or 0.53%, to $95.53 per barrel, and the WTI futures gained 9 cents, or 0.10%, to $93.13 per barrel.
Meanwhile, gold futures declined by 0.63% to $4,476.50 per Troy ounce.
