Börsen Asien: Asien-Börsen legen zu – Ölpreis gibt trotz Nahost-Spannungen nach

Singapore - The optimism surrounding a sustained demand for chips used in artificial intelligence (AI) applications has boosted the Asian stock markets, particularly the prices of chip manufacturers. However, trading on the day was relatively calm due to a public holiday in Japan.

Oil prices, on the other hand, took a downturn. Traders cited reports suggesting that more oil from the Middle East was reaching the market than previously thought, despite the conflict in the Gulf. Admiral Brad Cooper, head of the US Central Command, reported on the weekend that the volume of crude oil, freight, and liquefied natural gas had reached its highest level in the past six months over the past two weeks.

Vivek Dhar, a commodities expert at CBA, explained that the closure of the East-West pipeline had significantly altered the state of the oil market. According to Dhar, analysts now estimate that oil and refinery product inventories worldwide will dwindle within five to ten weeks. This assessment was an improvement from the previous estimates of 15 to 20 weeks.

Meanwhile, bond markets experienced tension following hawkish statements by the US Federal Reserve (Fed) in the previous week. These remarks had driven up interest rate expectations. Futures pricing indicated a high probability of another interest rate hike in October, with some analysts predicting it would be the last increase before the end of the year.

The Bank of America (BofA) analysts wrote in their analysis, "Rigorous cycles are typically concentrated at the start, and the Fed rarely raises rates after a single hike." The analysts maintained their forecast of only two further interest rate increases in October and December.

The Shanghai Stock Exchange showed a more stable trend, with its leading index gaining 0.5 percent to reach 3,932 points. The index of the key companies in Shanghai and Shenzhen rose by 0.4 percent to 4,524 points. However, Japanese markets remained inactive due to a holiday. The Nikkei Index was closed for the day, but the Nikkei Futures increased by 0.5 percent.