On Thursday (6 August, 10:40 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific trended lower, weighed by a downturn in technology stocks. Recent sessions saw pronounced swings for tech shares, particularly in South Korea’s semiconductor sector, which experienced both sharp declines and significant recoveries.
The recent halt in momentum for technology stocks follows a period where AI-linked names rebounded after last month’s sharp downturn. As investors evaluate whether valuations remain justified, attention has also shifted to geopolitical factors. Developments in the Middle East remain under close watch, given their potential impact on oil prices, which in turn could influence inflation trends and monetary policy stances.
In the U.S., Federal Reserve Governor Lisa Cook indicated a willingness to consider an interest rate increase if there are no further signals of sustained disinflation.
Japan’s NIKKEI dropped by 1.56% to 65,266.67. South Korea’s KOSPI plummeted by 4.16% to 6,323.96, while Australia’s ASX 200 rose by 0.47% to 9,271.40.
As for stocks in China, Shanghai’s SSEC slid by 0.09% to 3,874.76. Shenzhen’s SZI fell by 0.74% to 14,039.28, and Hong Kong’s HSI slumped by 1.90% to 25,423.30.
The U.S. stock markets edged down on Wednesday as NASDAQ lost 0.83% to 26,363.43. S&P 500 shrank by 0.17% to 7,723.55, while the Dow Jones Industrial Average (DJIA) gained 0.49% to 54,349.12. VIX decreased by 4.18% to 15.81.
As for commodities, oil prices settled lower on Wednesday as traders assessed renewed hopes for reduced tensions between the U.S. and Iran. This has the potential to ease risks to shipping through the Strait of Hormuz. Brent crude futures edged higher, gaining 9 cents to close at $79.45 per barrel, an increase of 0.11%. In contrast, U.S. West Texas Intermediate crude settled 55 cents lower, declining 0.73% to $75.22 per barrel.
This morning, Brent futures surged 5 cents, or 0.06%, to $79.50 per barrel, and the WTI futures dipped 5 cents, or 0.07%, to $75.17 per barrel.
Meanwhile, gold futures grew by 0.47% to $4,325.30 per Troy ounce.
