On Thursday (9 July, 9:25 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific increased, buoyed by enthusiasm for artificial intelligence-related stocks, even as escalating Middle East tensions heightened market anxiety.
Shares in chipmaker SK Hynix saw robust gains, climbing over 5% in Seoul after the company’s U.S. share sale was more than seven times oversubscribed, highlighting continued investor appetite for the sector.
Geopolitical risks resurfaced as the U.S. military carried out new strikes against Iranian targets following attacks on commercial vessels near the Strait of Hormuz, according to the U.S. Central Command. Earlier, President Donald Trump indicated that negotiations with Iran may no longer be on the table, declaring the ceasefire to be “over” in the wake of renewed hostilities.
Rising energy prices following the conflict have revived concerns about inflation, which could prompt the Federal Reserve to maintain higher interest rates for an extended period. Minutes from the Fed’s June meeting reflected ongoing divisions within the central bank, with officials seeking additional confirmation that inflation is trending toward their target before considering rate reductions.
In China, economic data showed consumer prices increased by 1% year-on-year in June, below market forecasts of 1.1% and easing from May’s 1.2% rise. Core consumer prices, which exclude food and energy, matched the headline 1% annual increase, also moderating from the prior month.
Japan’s NIKKEI rose by 1.98% to 68,142.09. South Korea’s KOSPI jumped by 0.43% to 7,278.24, while Australia’s ASX 200 dropped by 0.67% to 8,726.10.
As for stocks in China, Shanghai’s SSEC grew by 0.11% to 3,975.14. Shenzhen’s SZI advanced by 0.29% to 14,983.00, and Hong Kong’s HSI expanded by 0.45% to 24,309.45.
The U.S. stock markets were mixed on Wednesday as the Dow Jones Industrial Average (DJIA) fell by 1.09% to 52,348.39. NASDAQ climbed by 0.20% to 25,870.65, and S&P 500 slid by 0.28% to 7,482.71. VIX soared by 4.77% to 16.90.
As for commodities, oil prices settled higher on Wednesday after U.S. President Donald Trump warned of possible new military action against Iran. The remarks heightened investor fears of potential disruptions to shipping through the Strait of Hormuz. Brent crude finished up $3.86, or 5.2%, at $78.02 per barrel, while U.S. West Texas Intermediate closed $3.08 higher, advancing 4.4% to $73.52.
This morning, Brent futures added 71 cents, or 0.91%, to $78.73 per barrel, and the WTI futures gained 69 cents, or 0.94%, to $74.21 per barrel.
Meanwhile, gold futures increased by 0.14% to $4,088.00 per Troy ounce.
