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Asian stocks fall amid oil rise and AI concerns
Most Asian stocks declined today due to renewed concerns over the failure to reach a truce between the United States and Iran, which led to a rise in oil prices and a decrease in risk appetite. Although the Hang Seng Index increased by 0.6%, other indices such as the KOSPI and the CSI 300 fell by approximately 2% and 2.3%, respectively. Additionally, chip company stocks were affected, as OpenAI suspended training operations for advanced AI models. Oil prices rose after the U.S. president rejected Iran's proposal to reopen the Strait of Hormuz, with Brent crude surpassing $106 per barrel—its highest level in September—raising fears of ongoing inflation driven by rising energy costs. Meanwhile, the yield on 30-year U.S. Treasury bonds reached 5.52%, close to the highest level since 2004.
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