Global Markets
Asia gets hit as Europe holds up and oil surges
A rough session in Asia contrasts with a firmer Europe, while geopolitics push energy higher.
Global equities are split. Japan’s Nikkei drops 1.9%, Shanghai falls 2.1%, and South Korea’s Kospi sinks 9.0%. At the same time, the Hang Seng edges up 0.2%, India’s Sensex is flat to up 0.1%, and Australia’s ASX 200 is essentially unchanged.
Europe is more stable. The FTSE 100 rises 0.3%, the DAX gains 0.2%, the CAC 40 adds 0.3%, and the Stoxx 600 is flat at -0.0%. Canada’s TSX also edges up 0.2%, while Brazil’s Bovespa climbs 0.5%.
Several headlines frame the global backdrop. CNBC says oil prices rise as the U.S. launches new Iran airstrikes, while Reuters says U.S. stocks end higher on cool inflation data and bank earnings. CNBC also reports that very few Nvidia H200 chips have shipped to China, which keeps the U.S.-China tech story active.
The biggest global market shock is in South Korea, where the Kospi’s 9.0% drop dwarfs other moves. SK Hynix also stands out on the upside in U.S.-listed trading, with the stock up 27.3% in the marketwide gainers list.