Global Markets Advance as Wall Street Gains and Oil Prices Drop

World shares mostly advanced on Tuesday, following gains on Wall Street and a decline in oil prices amid ongoing Middle East uncertainty. In early European trading, Britain's FTSE 100, France's CAC 40, and Germany's DAX each rose 0.8%. U.S. futures also climbed, with the S&P 500 up 0.3% and the Dow Jones Industrial Average gaining 0.6%.

In Asia, Japan’s Nikkei 225 surged 1.1% to 70,683.98, marking its first rise above 70,000 since early July. South Korea’s Kospi, however, fell 0.9% to 6,941.39, with technology stocks showing volatility. Hong Kong’s Hang Seng gained 1%, while Australia’s S&P/ASX 200 rose 0.6%. Markets in mainland China remained closed for a national holiday.

On Monday, Wall Street’s S&P 500 added 0.7%, nearing a record high, while the Nasdaq composite rose 1.1% to an all-time closing high. Technology stocks like Nvidia and Broadcom led the gains, each advancing 2.1%. Meanwhile, oil prices dropped more than 1%, with Brent crude falling 1.3% to $99.07 per barrel and U.S. crude losing 1.7% to $87.91 per barrel.

Analysts noted that while oil flow disruptions in the Persian Gulf have eased, tensions between the U.S. and Iran continue to keep prices elevated. In the bond market, the 10-year U.S. Treasury yield eased to around 5.27%, after briefly reaching a multi-decade high of 5.35%. The U.S. dollar strengthened against the yen, rising to 158.18 yen, while the euro climbed to $1.1238.