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Asian Markets React to Oil and Jobs Data
Asian stocks diverged today, with declines in South Korea and Japan due to ongoing negative trading in semiconductor shares. Technology stocks continued to fall despite a sector rebound after last month’s sell-off. Markets are awaiting the release of the U.S. July employment report scheduled for today. Meanwhile, oil prices increased following reports of Iran’s plans to regulate vessel transit through the Strait of Hormuz, amid additional concerns over the Houthis threatening Saudi Arabia from Yemen. Geopolitical tensions remain persistent and continue to impact energy and equity markets.
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