Asian shares were trading mixed early Wednesday, as uncertainty remained about an initial deal to end the war in Iran and access to the crucial Strait of Hormuz. Japan’s benchmark Nikkei 225 added 0.6% to 70,463.72. Australia’s S&P/ASX 200 lost 0.4% to 8,744.50. South Korea’s Kospi dropped 1.8% to 8,322.39. The Shanghai Composite edged up 0.1% to 4,099.41. Trading was closed in Hong Kong.
Oil Market Impacted
In the oil market, prices drifted as two U.S. envoys arrived in Qatar for talks with mediators about the implementation of the deal with Iran. The Americans will not be having direct negotiations with Iranian diplomats while in Doha. Benchmark U.S. crude added 37 cents to $69.87 a barrel. Brent crude, the international standard, rose 30 cents to $73.25 a barrel.
U.S. stocks trimmed their losses Tuesday. The S&P 500 gained 0.8%, though it still fell to its first losing month following two fabulous ones. The Dow Jones Industrial Average added 136 points, or 0.3%, to its record, and the Nasdaq composite climbed 1.5%.
AI Stocks Rebound
The main reason for this month’s weakness has been a fall to Earth for stocks in the artificial-intelligence industry. After soaring in the frenzy around AI, such stocks have come under pressure because of worries that they shot too high. AI stocks were stronger Tuesday, with Nvidia rising 1.6% to trim its loss for the month.
Original reporting: KTBS 3 (Shreveport) — read the source article.
