Chip Shares Boost Asian Stocks
Asian chip stocks, led by Samsung and SK Hynix, rose driven by increased investor interest in artificial intelligence technologies, with the "Sox" index continuing to climb by 1.3%. Additionally, gains in the technology sector bolstered overall performance in the Asian stock markets. Meanwhile, Brent crude oil prices increased by up to 1.8%, reaching approximately $99.67 per barrel, following attacks on Iranian tankers near Al-Kharg Island. This has raised concerns about potential disruptions in oil supplies and caused prices to surge by more than 60% since the beginning of the year, approaching the $100 mark for the first time since July. Fears that escalation in the Middle East may lead to sustained higher oil prices cast a shadow over inflation forecasts and global interest rate expectations.
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