TOKYO – Oil prices attempted a rebound in Asian trading on Wednesday following a sharp drop the previous day, as markets continued to assess the evolving situation in the Middle East. At the same time, stock markets across the region were mixed, weighed down by renewed fears of global trade tensions.
By 02:20 GMT, U.S. West Texas Intermediate (WTI) crude rose 1.40% to $65.27 per barrel, while Brent crude from the North Sea gained 1.33% to reach $68.03. The modest recovery was supported by bargain-hunting in the oil market, despite lingering geopolitical uncertainty.
Asian stock markets showed no clear direction. In Tokyo, the benchmark Nikkei index slipped 0.10% to 38,750 points, while the broader Topix index lost 0.34% to 2,771. However, Seoul’s market rose 0.22%, Taipei advanced 0.76%, and Hong Kong’s Hang Seng gained 0.79%. The Shanghai Composite edged up 0.07%, and Shenzhen climbed 0.41%. Sydney’s market dipped slightly by 0.04%. Despite recent gains on Wall Street, Asian markets remained divided amid volatile trading.
Meanwhile, gold—often seen as a safe haven in times of crisis—continued to rise even after a ceasefire in the Middle East. It increased 0.20% to $3,330 per ounce by 02:30 GMT. The U.S. dollar, which had also been favored by cautious investors, lost ground against the yen, slipping 0.10% to 144.80 yen per dollar. The yen’s rise pressured shares of major Japanese exporters on the Tokyo exchange.
