![\"Nvidia](\"https:\/\/www.newsbeep.com\/il\/wp-content\/uploads\/2026\/06\/33acd1f63962951fcc81be5011ba74fc.jpeg\")
Nvidia boss Jensen Huang sent shares in US chipmaker Marvell Technologies soaring after hailing it as the next trillion-dollar company (I-Hwa Cheng) \u00b7 I-Hwa Cheng\/AFP\/AFP <\/p>\n Nvidia boss Jensen Huang sent shares in US chipmaker Marvell Technologies soaring after hailing it as the next trillion-dollar company (I-Hwa Cheng) \u00b7 I-Hwa Cheng\/AFP\/AFP <\/p>\n
Oil prices extended gains Wednesday as Middle East peace talks stuttered, though stocks mostly rose on the back of continued demand for all things linked to artificial intelligence.<\/p>\n
Despite Donald Trump’s assurances that the United States and Iran are edging closer to ending their three-month-long war and reopening the Strait of Hormuz, crude investors appear unmoved as they await solid progress.<\/p>\n
Unease on trading floors has risen this week after reports in Iran said it had broken off contact over Israel’s attacks on Lebanon, which the US president denied on Tuesday.<\/p>\n
“Fake News Reports that the Islamic Republic of Iran, and the U.S.A., stopped speaking a few days ago are false and erroneous,” he wrote on his Truth Social network.<\/p>\n
“The conversations between us have been going on continuously, including four days ago, three days ago, two days ago, one day ago, and today.”<\/p>\n
He added: “Where they lead, one never knows, but as I told Iran, ‘It’s time, one way or another, for you to make a Deal. You’ve been doing this for 47 years, and it cannot be allowed to go on any longer!'”<\/p>\n
Israel is continuing attacks on Lebanon, jeopardising fragile truce between Washington and Tehran, while Iran fired missiles at nearby countries.<\/p>\n
The president said he remained upbeat for a deal.<\/p>\n
However, the US military said Tuesday it had “successfully defeated” a series of Iranian missile and drone attacks in the Gulf and conducted self-defence strikes on the country’s Qeshm Island. Centcom also said three attack drones launched by Iran “toward civilian mariners” had been hit.<\/p>\n
Uncertainty about a peace deal pushed oil prices up more than one percent, with both main contracts up around five percent this week.<\/p>\n
However, stocks extended their breathtaking rally, fuelled by the tech sector and AI demand.<\/p>\n
Tokyo climbed more than two percent, helped by a more than 11 percent surge in chipmaker Tokyo Electron, while Advantest also jumped.<\/p>\n
Taipei was up a similar amount thanks to Taiwan Semiconductor Manufacturing Company’s strong advance.<\/p>\n
Shanghai, Sydney, Singapore and Manila were also up, though Hong Kong, Wellington and Jakarta retreated. Seoul was closed for a holiday.<\/p>\n
“Equity markets are once again taking their cue from the technology sector rather than the geopolitical headlines,” said IG chief market analyst Chris Beauchamp.<\/p>\n
“Tensions surrounding Iran have done little to dent investor appetite, with a string of AI-related announcements providing a more compelling narrative for markets this week.<\/p>\n
“The pattern is a familiar one: when Big Tech delivers, broader indices tend to follow.”<\/p>\n
He said sentiment was “anchored by a pipeline of AI-driven capital spending that shows no sign of slowing”.<\/p>\n
The gains followed another record for the S&P 500 and Nasdaq on Wall Street, where chipmaker Marvell Technology soared more than 32 percent after Nvidia CEO Jensen Huang hailed\u00a0it\u00a0as the next trillion-dollar firm.<\/p>\n
Adding to the upbeat mood among equity traders was data showing US job openings jumped in April to their highest level in 23 months.<\/p>\n
The reading comes ahead of employment data on Friday that could determine if the Federal Reserve will keep its benchmark rate stable or potentially hike borrowing costs to fight inflation.<\/p>\n
The yen strengthened slightly, having come within a whisker of 160 to the dollar, amid speculation Japanese authorities could step in to support their currency following last month’s intervention.<\/p>\n
That came as the Japanese cabinet approved a $19 billion supplementary budget to support households struggling with soaring everyday costs driven by the Iran war.<\/p>\n
– Key figures at around 0230 GMT –<\/p>\n
West Texas Intermediate: UP 1.2 percent at $94.86 a barrel<\/p>\n
Brent North Sea Crude: UP 1.0 percent at $96.97 a barrel<\/p>\n
Tokyo – Nikkei 225: UP 2.6 percent at 68,452.45 (break)<\/p>\n
Hong Kong – Hang Seng Index: DOWN 1.4 percent at 25,686.06<\/p>\n
Shanghai – Composite: UP 0.2 percent at 4,084.37<\/p>\n
Euro\/dollar: DOWN at $1.1630 from $1.1634 on Tuesday<\/p>\n
Pound\/dollar: UP at $1.3472 from $1.3470<\/p>\n
Dollar\/yen: DOWN at 159.85 yen from 159.92 yen<\/p>\n
Euro\/pound: DOWN at 86.34 pence from 86.37 pence<\/p>\n
New York – DOW: UP 0.5 percent at 51,307.79 (close)<\/p>\n
London – FTSE 100: UP 0.3 percent at 10,373.51 (close)<\/p>\n
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