Oil prices remain elevated above $108 a barrel as Asian stock markets follow Wall Street lower, driven by fears over US-Iran tensions and global economic uncertainty, despite a bright debut for Chinese AI chipmaker Enflame.
Oil prices held above $108 a barrel as Asian stock markets followed Wall Street lower, underscoring investor unease over geopolitical risks and tighter financial conditions. Brent crude, the international benchmark, was trading at its highest level since May, while selling pressure spread across major Asian bourses.
According to the reports, Japan’s Nikkei 225, South Korea’s Kospi, Hong Kong’s Hang Seng and China’s Shanghai Composite all slipped in early trading. The broader weakness followed losses on Wall Street, where investors had already been trimming risk as they weighed the outlook for growth and interest rates.
One bright spot came in Shanghai, where shares in Chinese artificial intelligence chipmaker Enflame surged on their trading debut. Even so, the strong opening for the company did little to change the wider tone across regional markets, which remained dominated by caution.
The rise in crude was linked in the reports to renewed concern over tensions involving the US and Iran, with traders watching for any disruption to shipping routes and supplies. That combination of firmer energy prices and weaker equities has added to market volatility, as investors try to judge how much geopolitical strain the global economy can absorb.
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