Asian shares tumble, oil rises as markets await AI sector results
TOKYO: Asian stocks retreated broadly on Tuesday while oil rose as geopolitical risks rattled sentiment ahead of key results from AI bellwether companies. The dollar held firm against the euro as riots in France fuelled demand for safe-haven assets. Crude prices resumed their climb as markets weighed an executive order from US President Donald Trump that waived some sanctions and tariffs on…
Asian shares experienced a broad retreat on Tuesday as geopolitical risks and concerns over AI sector results weighed on sentiment. The dollar remained stable against the euro, with French riots fueling demand for safe-haven assets. Crude prices climbed as the US lifted some sanctions and tariffs on Russian energy through an executive order from President Donald Trump.
Investors now await key corporate earnings, particularly from Meta, Tesla, and chipmakers Lam Research and Texas Instruments, to gauge consumer and economic resilience. The MSCI Asia ex-Japan index dropped 0.93%, Japan's Nikkei 225 fell 1.28%, and South Korea's KOSPI declined 3.61%.
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