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Asian stocks give up gains as chip rally fades; Brent extends rise above $79 after second day of US strikes on Iran

AI Market Summary
US strikes on Iran for a second day raised fears of disruption through the Strait of Hormuz, pushing Brent above $79 and reviving inflation risk. Rates markets pulled forward expectations for the next Fed hike to October, pressuring global duration and weighing on risk assets as Asian equities lost momentum. Gold steadied after recent losses, reflecting a partial shift toward hedges amid renewed geopolitical risk.
Impact level
● High
Affected assets
NCCO1OILBRENT2USD/USDT-1.40%
AI Insight · NCCO1OILBRENT2USD/USDTAI Insight
▼ Bearish
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Asian equities surrendered earlier advances as a semiconductor-led rally lost momentum while the US conducted a second day of strikes on Iran aimed at curbing threats to navigation in the Strait of Hormuz. Brent crude rose for a third straight session, pushing above $79 a barrel, and gold steadied around $4,075 an ounce after three days of declines. Renewed inflation concerns lifted rate expectations, with money markets bringing forward bets on the next Federal Reserve hike to October from December, according to Bloomberg.
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