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Asian shares were sharply higher Wednesday after US stocks soared to their best day since last spring on renewed hopes that the Iran war could soon end. South Korea's Kospi surged 5.2 per cent to 5,312.45 in early trading, while Tokyo's Nikkei 225 rose 3.5 per cent to 52,840.67. Australia's S&P/ASX 200 was up 1.9 per cent to 8,641.30. The renewed optimism came after US President Donald Trump said on Tuesday the United States will be done attacking Iran probably in two to three weeks, and that the US "will not have anything to do with" what happens next in the Strait of Hormuz. The White House said Trump will deliver a public address Wednesday evening on the Iran war. Trump's remarks came after he told US allies to "go get your own oil" and blamed them for refusing to be more involved in its war effort. Significant maritime traffic disruption at the Strait of Hormuz, where roughly a fifth of the world's oil typically passes through, has sent energy prices surging and is fueling ...
A sell-off for stocks is slamming Wall Street after careening from Europe and Asia, and oil prices are leaping even higher as rise that the war with Iran is widening and may do more sustained damage to the economy than feared. The S&P 500 dropped 1.6% in early trading on Tuesday. The Dow Jones Industrial Average sank 880 points, or 1.8%, and the Nasdaq composite lost 1.8%. Crude oil prices jumped more than 8% as Iran struck the US Embassy in Saudi Arabia, part of a widening of targets that's also including areas critical to the world's oil and natural gas production. Treasury yields rose.
Asia shares were trading mostly lower Friday, tracking sharp Wall Street losses on a sell-off of technology-related stocks that investors fear could lose out from artificial intelligence disruptions. U.S. futures were mostly unchanged. Tokyo's Nikkei 225 fell 0.8 per cent to 57,165.13 on Friday, after it passed the 58,000 mark for the first time early Thursday. SoftBank Group, which has a focus on AI, fell 6.8 per cent even as the company reported a quarterly profit Thursday building on its investments in OpenAI, among other gains. South Korea's Kospi rose 0.4 per cent to 5,545.49, after crossing 5,500 on Thursday, driven by gains in technology-related stocks. Samsung Electronics, the Kospi's largest listed company, was up 1.2 per cent. Hong Kong's Hang Seng fell 1.8 per cent to 26,547.97. The Shanghai Composite index was down 0.7 per cent to 4,105.04. In Australia, the S&P/ASX 200 traded 1.4 per cent lower at 8,919.30. On Thursday, Wall Street saw sharp losses as AI worries ...
US futures and Asian shares traded mostly lower on Friday, tracking Wall Street's losses as technology stocks again dragged on markets. Bitcoin sank to roughly half its record price, giving back all it gained since US President Donald Trump won the White House for his second term. Tokyo's Nikkei 225 was up 0.5 per cent to 54,073.52, recovering from losses earlier this week, with technology-related stocks leading gains. SoftBank Group rose 1.9 per cent, and chipmaker Tokyo Electron rose 3 per cent. Japan will also be holding its general election on Sunday, in which Prime Minister Sanae Takaichi expects to win a stronger public mandate for her policies. South Korea's Kospi lost 1.7 per cent to 5,076.69, weighed down by tech shares. Samsung Electronics, the country's biggest listed company, fell 0.9 per cent. Chipmaker SK Hynix was down 0.6 per cent. Hong Kong's Hang Seng fell 1.2 per cent to 26,569.14. The Shanghai Composite index was flat at 4,075.37. In Australia, the S&P/ASX 200