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Asian Markets Diverge Amid Oil Gains
Asian stocks varied today, with South Korea and Japan experiencing losses due to ongoing sell-offs of semiconductor company shares. The Korean Kospi index declined by approximately 1.2%, recording weekly losses exceeding 6%. Meanwhile, futures for the Nasdaq 100 increased by 0.1% as investors awaited the release of the U.S. jobs report for July today, which will influence potential monetary policy directions. Oil prices also rose following reports of a possible Iranian legislation that could restrict ship passages through the Strait of Hormuz, amid developments concerning supply risks in the region and indications that an agreement between Washington and Tehran may be imminent.
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