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Asian stocks delivered a mixed but broadly positive session on Wednesday, August 12, as investors kept an eye on the day's crucial US consumer price index reading and the state of West Asia negotiations.
South Korea led regional gains, with the Kospi jumping 2.44% in intraday trading, extending an earlier advance that had already seen the index climb 1.5%. Japanese markets, resuming trade after a public holiday, delivered a more subdued performance, with the Nikkei 225 up just 0.076% and the broader Topix adding 0.34%.
MSCI's Asia Pacific equities gauge rose 0.4% overall, while Hang Seng futures slipped 0.4%, pointing to weaker sentiment in Hong Kong.
Also Read:Brent crude remains near $90 levels after Gulf incidents, even as Pakistan signals peace
Strong earnings from technology companies lent support to the region, with sentiment toward tech shares staying firm and helping US equity-index futures tick up 0.1%, even as the overall mood stayed cautious. The guarded tone reflected mixed investor sentiment, with persistent geopolitical risk on one side, and uncertainty over the Federal Reserve's next interest-rate move on the other. Hopes of an imminent diplomatic breakthrough took a knock after last week's optimism, which had briefly lifted risk assets, failed to translate into an actual deal.
Markets are now bracing for the CPI data, expected to show energy-driven price pressures cooling after they intensified in the months following the war's outbreak.
Traders are also watching the Japanese yen, which sits close to a threshold against the dollar that could prompt Japanese authorities to intervene; the currency held steady at 159.28 per dollar, while the offshore yuan was largely flat at 6.7464.
Also Read: Dow Jones falls over 400 points from highs to end lower as tech, oil weigh ahead of CPI
In commodities, gold pulled back from a two-month peak as traders reassessed the odds of a US-Iran agreement, even as elevated oil prices continued to reflect doubts over how the conflict will unfold. Brent crude gained 0.3% to $89.10 a barrel, marking its sixth straight day of gains, while West Texas Intermediate rose 0.5% to $83.58 a barrel.
The rise came even as Pakistan's defence minister suggested Washington and Tehran were nearing "some sort of arrangement" over the Strait of Hormuz, according to a Bloomberg report, a claim at odds with both sides appearing to dig in further during long-stalled talks.
South Korea led regional gains, with the Kospi jumping 2.44% in intraday trading, extending an earlier advance that had already seen the index climb 1.5%. Japanese markets, resuming trade after a public holiday, delivered a more subdued performance, with the Nikkei 225 up just 0.076% and the broader Topix adding 0.34%.
MSCI's Asia Pacific equities gauge rose 0.4% overall, while Hang Seng futures slipped 0.4%, pointing to weaker sentiment in Hong Kong.
Also Read:Brent crude remains near $90 levels after Gulf incidents, even as Pakistan signals peace
Strong earnings from technology companies lent support to the region, with sentiment toward tech shares staying firm and helping US equity-index futures tick up 0.1%, even as the overall mood stayed cautious. The guarded tone reflected mixed investor sentiment, with persistent geopolitical risk on one side, and uncertainty over the Federal Reserve's next interest-rate move on the other. Hopes of an imminent diplomatic breakthrough took a knock after last week's optimism, which had briefly lifted risk assets, failed to translate into an actual deal.
Markets are now bracing for the CPI data, expected to show energy-driven price pressures cooling after they intensified in the months following the war's outbreak.
Traders are also watching the Japanese yen, which sits close to a threshold against the dollar that could prompt Japanese authorities to intervene; the currency held steady at 159.28 per dollar, while the offshore yuan was largely flat at 6.7464.
Also Read: Dow Jones falls over 400 points from highs to end lower as tech, oil weigh ahead of CPI
In commodities, gold pulled back from a two-month peak as traders reassessed the odds of a US-Iran agreement, even as elevated oil prices continued to reflect doubts over how the conflict will unfold. Brent crude gained 0.3% to $89.10 a barrel, marking its sixth straight day of gains, while West Texas Intermediate rose 0.5% to $83.58 a barrel.
The rise came even as Pakistan's defence minister suggested Washington and Tehran were nearing "some sort of arrangement" over the Strait of Hormuz, according to a Bloomberg report, a claim at odds with both sides appearing to dig in further during long-stalled talks.
