BANGKOK (AP) — Asian shares surged and oil prices slipped Wednesday after the U.S. stock market rallied to records, helped by strong corporate profits and hopes for a possible Mideast deal. This was reported by Qazaqyia.kz citing Associated Press.
The S&P 500 index in the U.S. hit an all-time high on Monday, with the Nasdaq and Dow Jones also rising. This was driven by strong quarterly reports from technology companies and slowing inflation.
In Asia, Japan's Nikkei 225 rose 2.1%, South Korea's KOSPI gained 1.8%, and Hong Kong's Hang Seng advanced 1.5%. China's Shanghai Composite also climbed 0.9%.
As for oil prices, WTI futures fell $1.20 to $76.50 a barrel. Brent crude also dropped $1.10 to $79.80. This may be due to easing tensions in the Middle East.
Analysts say investors are positively assessing the stabilization of the situation in the Middle East and the rise in profits of large companies. However, concerns about a slowdown in the global economy remain.
U.S. employment data also showed good results. Last week, the number of jobless claims fell to 214,000, boosting market confidence.
In Europe, major indices are also rising. Frankfurt's DAX gained 0.8%, and London's FTSE 100 rose 0.5%.
Looking ahead, investors are awaiting the U.S. Federal Reserve meeting and inflation data. Analysts expect interest rates to remain unchanged.
Despite the positive momentum in stock markets, some analysts warn of a possible market correction. They say geopolitical risks and inflationary pressures persist.
Overall, global markets are trading with optimism, but investors remain cautious.