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Asian stocks advance on tech gains
Asian stocks rose today, Wednesday, despite escalating tensions in the Middle East and rising oil prices. The gains were led by technology shares, especially those related to artificial intelligence, which boosted overall market performance. Wall Street indices regained momentum after three consecutive sessions of losses, with the S&P 500 increasing by 0.9%, the Nasdaq by 1.3%, and the Dow Jones by 0.7%. In Japan, exports grew by 19.3% in June, exceeding expectations, while imports rose by 25.4%, leading to a trade deficit of 406.9 billion yen due to higher oil import costs. These gains occurred despite the Houthi threat to expand the conflict and oil prices reaching over $91 per barrel, as markets monitor earnings results from major companies like Alphabet and Tesla, and anticipate their impact on AI and cloud service spending.
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