artificial intelligence<\/a>.<\/p>\n“It seems equity investors are still looking to put money \u200cto work and are jumping on positive-sounding news \u2060from the Gulf,” said Chris Turner, head of global markets at ING.<\/p>\n
“The prospect of a permanent peace deal remains highly uncertain, however, and oil looks set to remain very volatile.”<\/p>\n
Although stocks have rallied sharply in recent weeks, oil \u2060and bond markets are pointing to a potentially large impact on the global economy from the conflict.<\/p>\n
Oil prices remain almost 50% higher than when the conflict began in late February. Yields on 10-year U.S. Treasuries, which set the tone for borrowing costs around the world, have risen around 40 basis points.<\/p>\n
AI RALLY DRIVES ASIAN \u200bSTOCKS \u200bHIGHER<\/p>\n
The broadest index of Asia-Pacific shares outside Japan jumped 2.9%. The surge was led \u200bby a 6.5% charge for South Korea’s KOSPI, which reopened \u200cafter a holiday.<\/p>\n
Samsung Electronics jumped 14%, topping a $1 trillion market value and overtaking Berkshire Hathaway.<\/p>\n
“Due to the capex spend we are seeing from (AI) hyperscalers in the U.S., the earnings growth trajectory for sectors such as semiconductors, tech hardware, industrials and materials in Asia exceeds anything I have seen in a long time,” said Rushil Khanna, head of equity investments for Asia at Ostrum, an affiliate of Natixis Investment Managers.<\/p>\n
In the U.S., shares in chipmaker Advanced Micro Devices jumped 16% in extended trading as the company forecast second-quarter revenue above Wall Street expectations on Tuesday, helping drive AI enthusiasm \u200cacross markets.<\/p>\n
In foreign exchange markets, the yen strengthened sharply in afternoon trading, gaining as \u200bmuch as 1.8% to 155 against the dollar as traders remained on the lookout \u200bfor fresh intervention by authorities in Tokyo in support of the \u200bbeleaguered currency.<\/p>\n
“There\u2019s a bit of optimism around a U.S.-Iran ‘deal’ at the moment; it\u2019s possible the authorities decided that was \u200ca good moment to give the yen an extra nudge,” \u200bsaid Thomas Mathews, head of markets \u200bfor Asia Pacific at Capital Economics in Wellington.<\/p>\n
“That said, it might just be thin holiday-affected trade; best to wait and see how it fares towards the end of the week.”<\/p>\n
The U.S. dollar, which has been a safe haven during the Iran war, fell 0.3% \u200bagainst its major peers, reflecting investor hopes about a \u200cpossible deal.<\/p>\n
Meanwhile, yields on government bonds fell along with oil prices as traders dialled down their bets on central bank \u200brate hikes.<\/p>\n
The key 10-year U.S. Treasury yield fell 5 basis points to 4.37%.<\/p>\n
(Reporting by Gregor Stuart Hunter in Singapore and Harry \u200bRobertson in London; Editing by Shri Navaratnam, Sam Holmes and Thomas Derpinghaus)<\/p>\n","protected":false},"excerpt":{"rendered":"By Gregor Stuart Hunter and Harry Robertson SINGAPORE\/LONDON, May 6 (Reuters) – Stocks leapt as oil prices dropped…\n","protected":false},"author":2,"featured_media":434927,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[220,218,219,161907,3158,61,11829,60,20673,15504,80],"class_list":["post-434926","post","type-post","status-publish","format-standard","has-post-thumbnail","category-artificial-intelligence","tag-ai","tag-artificial-intelligence","tag-artificialintelligence","tag-global-energy-crisis","tag-global-markets","tag-ie","tag-iran","tag-ireland","tag-oil-prices","tag-president-donald-trump","tag-technology"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/434926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=434926"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/434926\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/434927"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=434926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=434926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=434926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}