On Thursday (3 September, 9:28 AM, GMT+7, Bangkok time), major indices in the Asia Pacific increased after President Donald Trump minimized the likelihood of extended hostilities with Iran. Trump indicated that any new military action against Iran would probably be brief and reinforced his assertion of American authority over the vital Strait of Hormuz.
This shift in sentiment marked a change from the beginning of September, when renewed violence in Iran pushed global bond yields higher and sent oil prices up, heightening concerns over inflation and prompting expectations that the Federal Reserve might increase interest rates later this month.
With most major companies having reported quarterly results, investor focus is now turning to the upcoming U.S. employment data release on Friday, seen as a significant indicator for the economic outlook.
Japan’s NIKKEI rose by 0.24% to 64,480.78. South Korea’s KOSPI grew by 1.06% to 6,632.11, and Australia’s ASX 200 increased by 0.33% to 9,007.80.
As for stocks in China, Shanghai’s SSEC surged 0.47% to 3,959.82. Shenzhen’s SZI gained 0.21% to 13,639.53, and Hong Kong’s HSI advanced by 0.64% to 25,472.46.
The U.S. stock markets edged up on Wednesday as the Dow Jones Industrial Average (DJIA) added 0.56% to 53,061.95. NASDAQ was up by 0.45% to 26,217.82, and S&P 500 soared by 0.46% to 7,666.60. VIX slumped by 6.98% to 15.20.
As for commodities, oil prices settled higher on Wednesday as military confrontations between the United States and Iran disrupted global oil supplies. Brent crude finished the session with a gain of 98 cents, or 1%, reaching $95.63 per barrel. U.S. West Texas Intermediate crude closed up 79 cents, or 0.9%, at $91.01.
This morning, Brent futures fell 13 cents, or 0.14%, to $95.50 per barrel, and the WTI futures climbed 3 cents, or 0.03%, to $91.04 per barrel.
Meanwhile, gold futures increased by 0.94% to $4,456.10 per Troy ounce.
