{
  "id": 157907,
  "title": "Asian shares surge on tech mood swing, oil retreats",
  "url": "https://urgent.news/2026/08/05/asian-shares-surge-on-tech-mood-swing-oil-retreats",
  "topic": "world",
  "section": "World",
  "published": "2026-08-05T02:18:00.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/08/05/asian-shares-surge-on-tech-mood-swing-oil-retreats"
  },
  "original_language": "en",
  "account": "Asian stock markets experienced a surge on Wednesday, buoyed by strong earnings and a resurgence of demand for technology, propelling Wall Street to record peaks. Japan's Nikkei climbed 3.0% and South Korea added 3.4%, continuing its pattern of volatile fluctuations. The MSCI's comprehensive index of Asia-Pacific shares outside Japan rose 1.5%. However, not every technology company reaped the same benefits; the chipmaker AMD saw its shares fall 9% after hours despite surpassing earnings predictions as investors cashed out, while SpaceX experienced a 7.5% decline, erasing some of its gains from the day. This trend was echoed across the sector, with AI and satellite firm SpaceX facing concerns over excessive capital expenditure in the wake of rising borrowing costs. Analyst Chris Weston of broker Pepperstone stated that SpaceX was executing well operationally, yet the ambitious investment program implies that further funding will likely be necessary in the medium to long term. The company's growth and the cost of financing this expansion will remain a central focus for investors in the coming quarters. Nasdaq futures slipped 0.1% following the earnings report, whereas S&P 500 futures climbed 0.2% after achieving all-time highs on Tuesday. EUROSTOXX 50 futures increased 0.3%, DAX futures rose 0.5%, and FTSE futures added 0.1%. The oil price drop has also contributed to the rally, as Qatar reported progress in mediating an end to the US-Iran conflict, though specifics were undisclosed. Brent crude decreased 0.4% to $79.02 a barrel, a significant contrast from its July peak of $102, while US crude slipped 0.5% to $75.35. This decrease in oil prices alleviated inflation concerns and bolstered bonds globally, pushing 10-year Treasury yields down to 4.6187% from their previous high of 4.747%. The Federal Reserve's probability of raising interest rates in September was also reduced to 57% from 67%. Fed Bank of Kansas City president Jeff Schmid, however, called for tighter policy during a speech on Tuesday to help bring inflation back to the central bank's 2% objective. Currency markets remained relatively stable, with the New Zealand dollar slipping 0.2% due to the unemployment rate hitting a decade high of 5.6% in the June quarter. The euro held steady at $1.1532, just shy of its six-week high of $1.1559. The dollar was marginally lower against the yen at 157.53, with the potential for intervention still looming over traders. US Treasury Secretary Scott Bessent expressed confidence that Bank of Japan Governor Kazuo Ueda would make the best decision for Japan's economy, which markets interpreted as a positive sign for possible interest rate hikes.",
  "summary": "Equities jump on strong tech and AI earnings, lifting Wall Street to record highs as Brent eases to US$79.02 a barrel.",
  "key_points": [
    "Asian shares surge 1.5% on tech optimism and earnings",
    "AMD stock drops 9% after-hours despite earnings beat",
    "Oil prices retreat, easing inflation concerns"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}