Precise Investors Editorial Team
MSCI’s broadest index of Asia-Pacific shares outside Japan was flat, while Brent crude was down 1.4 per cent to $78.41 per barrel
Asian stocks were steady and oil prices dipped on Thursday as investors assessed progress toward ending the war in the Middle East after the presidents of Iran and U.S. signed an interim peace deal, though uncertainties still hovered.
Both countries released the text of the agreement, which had already circulated widely before its contents were published. It extends a ceasefire announced in April by another 60 days to allow the two sides to negotiate a final truce.
Major geopolitical risk persists and will also remain a major driver of market action, said Kyle Rodda, a senior financial market analyst at Capital.com.
MSCI’s broadest index of Asia-Pacific shares outside Japan was flat. Nikkei share average rallied to another record high, surging past the 71,000 level for the first time, on solid gains in semiconductor and AI-related shares, while South Korean shares added 0.9 per cent.
The benchmark 10-year Japanese government bond yield increased 2 basis points to 2.620 per cent, poised for its highest close since June 16, after earlier hitting 2.63 per cent.
Oil prices dropped, with Brent crude down 1.4 per cent to $78.41 per barrel.
Elsewhere, U.S. stock futures, the S&P 500 e-minis, were up 0.81 per cent at 7,484.8. Overnight on the country’s stock market, indexes dropped close to or more than 1 per cent as traders bet that the central bank’s next move would be a rate hike after new Chair Kevin Warsh highlighted the need to tame inflation and other policymakers projected rising interest rates later this year.
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