Oil Price Volatility Hits Asian Markets Amid Global Uncertainty
Asian markets were mixed on Friday as oil prices cooled off after a previous day's surge. The Tokyo index rose by 1.2%, but Hong Kong's market lost nearly 2% of its value.
The Sydney and Jakarta exchanges declined, while Shanghai, Taipei, and Seoul markets were closed due to holidays. Oil price volatility has been a major concern for investors, with Brent crude falling 0.7% after jumping more than 3% the previous day.
Global stock markets have also seen significant movements, with US Treasury bond yields reaching multi-year highs. The yield on Japan's 10-year government bonds set a new record high, rising to its highest level in over 30 years.
According to XTB research director Kathleen Brooks, the uncertainty surrounding global events and Middle Eastern tensions has created a lack of direction for markets, leading to increased volatility primarily in commodity and debt markets.