Asian stock markets weakened slightly on Wednesday after posting their best start to the year in history. The decline was driven by a decline in Japanese stocks amid escalating tensions with China. The Nikkei 225 index opened down 0.4%, dragging the MSCI Asia Pacific index down after four consecutive days of gains.
The movement in the Asian region came after US stocks set another record. The S&P 500 index rose 0.6%, driven by optimism about the technology and artificial intelligence (AI) sectors. However, futures pointed to a weaker opening in Hong Kong, while the Japanese yen weakened slightly against the US dollar.
In commodity markets, movement was mixed. Silver prices rose around 1.5%, while gold fell slightly. Oil prices continued to weaken after US President Donald Trump said Venezuela would hand over up to 50 million barrels of crude oil to the United States, adding to pressure on global energy markets.
Geopolitical tensions returned to the spotlight after China imposed export restrictions to Japan on goods potentially used for military purposes. This policy covers hundreds of items, from chemicals to sensor and aerospace technology, and has strained relations between the two countries amid the Taiwan issue.
However, global market sentiment remains positive. Optimism about AI, expectations of interest rate cuts by the Fed, and weak US economic data—such as the services PMI—continue to support investor interest. Market focus now turns to the release of US economic and employment data in the coming days. (asd)
Source: Bloomberg.com
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