On Wednesday (29 April, 9:34 AM, GMT+7, Bangkok time), major indices in the Asia Pacific traded mixed after the United Arab Emirates announced that it will leave the Organization of the Petroleum Exporting Countries (OPEC), the world’s largest intergovernmental oil producer group, starting May 1, 2026.
Meanwhile, attention also turns to the technology sector as OpenAI CFO Sarah Friar raised concerns over the company’s top line, following a Wall Street Journal report that indicated a slower-than-expected growth in revenue and new users. This led to fears of potential drag on OpenAI’s capability to pay computing contracts in the future.
Market participants remain focused on developments surrounding the U.S.-Iran conflicts as President Donald Trump stands pat on the blockade of the Strait of Hormuz, the crucial waterway for global oil flows, while the U.S. Federal Reserve is set to conclude its two-day meeting and announce policy decisions.
Notably, markets in Japan are closed for a holiday.
South Korea’s KOSPI slid by 0.06% to 6,636.96, and Australia’s ASX 200 declined by 0.10% to 8,702.00.
As for stocks in China, Shanghai’s SSEC rose by 0.13% to 4,083.75. Shenzhen’s SZI escalated by 0.64% to 14,924.88, and Hong Kong’s HSI jumped by 1.36% to 26,028.73.
The U.S. stock markets edged down on Tuesday as the Dow Jones Industrial Average (DJIA) fell by 0.05% to 49,141.93. NASDAQ lost 0.90% to 24,663.79, and S&P 500 contracted by 0.49% to 7,138.80. VIX dropped by 1.05% to 17.83.
As for commodities, oil prices settled higher on Tuesday as concerns lingered about crude supply amid ongoing tensions in the Middle East. Brent crude surged $3.03, or 2.8%, reaching $111.26 per barrel. U.S. West Texas Intermediate settled $3.56 higher, a 3.7% gain, at $99.93 per barrel.
This morning, Brent futures decreased 59 cents or 0.53% to $110.67 per barrel, and the WTI futures slumped 92 cents or 0.92% to $99.01 per barrel.
Meanwhile, gold futures climbed by 0.09% to $4,612.70 per Troy ounce.
