Asian stocks climbed 0.9%, led by technology shares in South Korea and Japan, as Wall Street benchmarks ended a two-day losing streak. SK Hynix and Samsung Electronics gained more than 4% ahead of earnings, while Nasdaq 100 futures slipped 0.2%, reflecting cautious sentiment ahead of major technology results.

AI investment remains in focus, with Meta reportedly seeking to raise up to $97.5 billion through stock sales, Broadcom arranging $63 billion in acquisition financing, and SpaceX signing an equipment-finance lease worth around $40 billion. Investors now await earnings from Alphabet, Microsoft, Amazon and Intel to assess whether spending on AI is generating sufficient returns.

Brent crude fell for a second consecutive day, declining 0.7% to around $115 a barrel as diplomatic efforts intensified to prevent further escalation in the US-Iran conflict. Qatar’s Foreign Ministry stressed that Iran must demonstrate good intentions, stop threatening Arab Gulf states and reopen the Strait of Hormuz for mediation efforts to succeed. Meanwhile, Saudi authorities contained a fire near the Ras Tanura oil hub following an attack, keeping energy infrastructure risks firmly in focus.

Elsewhere, New Zealand’s RBNZ Shadow Board largely favoured a 25-basis-point rate increase to 3%. South Korea’s economy grew faster than expected in the third quarter, supported by AI-driven chip exports and investment, although weaker consumption highlighted an uneven recovery. In the UK, Chancellor John Healey is expected to raise the national living wage by around 4%, while concerns persist over hiring costs and youth unemployment. In the US, gasoline prices have risen above their average during the Biden administration, adding to political pressure ahead of the midterm elections.

The Persian Gulf remains central to the global market outlook. Any progress toward reopening the Strait of Hormuz could ease pressure on oil prices, while renewed attacks on energy infrastructure risk reigniting inflation concerns and complicating central banks’ decisions on interest rates.

FISG Daily Market Wrap provides a concise view of the forces moving global markets, helping investors stay informed and better prepared for what comes next.

FISG — Interstellar Group