Asian shares mixed after Nasdaq hits new record
5 sourcesUpdated Oct 6, 20261 min read
The Nasdaq composite rose 1.1% Monday to a record closing high, with Nvidia and Broadcom each up 2.1%. Asian shares mixed Tuesday. Kospi fell 1% to 6,936.60. The S&P/ASX 200 rose 0.6% to 8,735.20. The Taiex edged 0.1% lower and the Sensex added 0.2%. China markets were closed for a holiday. SoftBank fell 2.5% after Masayoshi Son warned of AI-related risks. The S&P 500 added 0.7%; the Dow gained 0.2%. Amin Nasser of Saudi Aramco told the Energy Intelligence Forum the system is "already straining" and the supply cushion is "scarily thin," with less than 10 percent of reserves available. ING's Warren Patterson and Ewa Manthey said markets remain nervous about Persian Gulf supply disruptions, keeping prices supported. Fiona Cincotta of FOREX.com cited vessel attacks near Oman and Yemen and said that could limit oil downside if disruptions intensify. Chris Della Fave said "This is not something that we've seen before." Contested: AP has Nikkei at 70,321.83 (+0.5%) and Hang Seng at 24,228.47 (+0.8%); AFP has Nikkei at 70,081.53 (+0.2% midday) and Hang Seng at 24,207.15 (+0.7%). AP lists Brent $100.71 (+0.4%) and U.S. crude $89.73 (+0.3%); AFP lists Brent $100.61 (-0.3%) and WTI $89.55 (+0.1%). Differences unreconciled. Oil held above $100 amid Gulf export recovery and G7 reserve-release plans.
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Investors should watch corporate earnings closely now since inflation and rate uncertainty might limit any further market gains.
Tech pushing the Nasdaq to records is a bright spot but mixed Asian shares show bond yields are still weighing on everything.
Oil staying above 100 even with Gulf supply recovering points to real risks from Middle East tensions that could linger.
