Asian stocks today: Asian markets advanced for a second straight session on Wednesday, led by continued gains in semiconductor stocks. The rally came even as crude oil prices climbed after renewed tensions in West Asia following the latest escalation in the conflict between the US and Iran.
South Korea led regional gains, with the Kospi surging around 6%, while the Kosdaq advanced 2%.
Japan’s Nikkei 225 rose 0.34%, while the broader Topix index was largely unchanged. Meanwhile, Australia’s benchmark S&P/ASX 200 edged 0.12% higher.
What’s driving Asian markets today?
Brent crude gained 0.6% to trade at $91.55 per barrel after two oil tankers carrying Saudi crude to Asia turned back in the Red Sea on Tuesday following threats of attacks by Yemen’s Iran-backed Houthi rebels.
Despite oil prices climbing to a five-week high in the previous session, bond and currency markets remained largely steady as investors awaited a series of central bank meetings next week. According to a Reuters poll, the US Federal Reserve is widely expected to keep interest rates unchanged for the remainder of 2026, although economists believe the possibility of a rate hike remains elevated.
Meanwhile, CME Group’s FedWatch Tool indicated that markets are pricing in a likely 25-basis-point rate hike by December, while the chances of cumulative hikes of 50 basis points or more by year-end remain evenly balanced.
The yield on the benchmark 10-year US Treasury note edged up 0.2 basis point to 4.628%, while gold rose 0.5% to $4,097.67 an ounce.
The US dollar index, which tracks the greenback against a basket of six major currencies, hovered near a one-week high at 101.20. The dollar, however, slipped 0.1% against the Japanese yen to 163.06, easing slightly after touching a four-decade high against the Japanese currency in the previous session.
US stock market today
US stock futures were largely unchanged in overnight trading on Tuesday as investors awaited another busy session of corporate earnings, with several major technology and industrial companies scheduled to announce their quarterly results.
Dow Jones Industrial Average futures slipped 16 points, while S&P 500 and Nasdaq-100 futures traded near the flatline.
Wall Street’s key indices ended a three-day losing streak on Tuesday, buoyed by stronger-than-expected earnings from blue-chip companies such as 3M and General Motors, which helped ease investor concerns over corporate profitability. Semiconductor stocks also led gains, with the VanEck Semiconductor ETF (SMH) surging 4% as investors renewed interest in artificial intelligence-linked companies.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.