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Forex

Tech Drives Asian Markets Higher Amid Oil Supply Concerns

Guavy AI Editorial Team
Instruments
JPY
Share

Asian markets rose on Monday as technology stocks led the charge, despite concerns about oil supplies.

The AI-driven demand for data boosted chipmakers, while a potential increase in Saudi Arabia's oil output offset news of a Houthi attack on Riyadh.

The yen was steady at 157.00 against the dollar due to thin trade in Japan during its Silver Week holiday.

Bond markets remained volatile after a sharp selloff, with US 2-year yields reaching heights not seen since mid-2024 at 4.7604%.

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