As Crude Oil Rises, Stocks’ Relief Rally Stalls – Asia Market Wrap

Stocks fell and oil surged as euphoria about the US-Iran ceasefire evaporated after Tehran said many aspects of the agreement had been violated, reflecting the market’s ongoing uncertainty.

MSCI’s Asia Pacific equity index declined 0.9% after Iranian Parliament Speaker Ghalibaf stated that three sections of the cease-fire resolution have been violated thus far. Two equities sank for every one that rose in the index. Stock futures for Wall Street and European benchmarks fell 0.2%, indicating a four-day run of gains for global stocks is primed to end.

Treasuries remained stable after an early gain in the US session. Government bonds in Japan and Australia also fell on concerns that rising oil costs would fuel inflation.

In other market developments, Bitcoin fell 0.5% to roughly $71,000. Gold fluctuated, trading at $4,700 per ounce.

Asian technology equities fell alongside US peers after Meta introduced a new AI model and Anthropic launched Claude tools for creating agents.