Asian Markets Open Higher, Tracking Dow's Record High on AI Earnings Optimism
MacroGeopoliticsDigital Finance
Asian stock markets opened higher this morning, following the Dow Jones Industrial Average's surge of more than 900 points yesterday, with both the Dow and the S&P 500 closing at record highs, buoyed by strong earnings from artificial intelligence-related companies. South Korea's Kospi index opened up 3.9 percent at 6,603.48 points, while Japan's Nikkei index opened 1.0 percent higher at 64,565.27 points, led by electronics and financial stocks. Meanwhile, US Treasury Secretary Scott Bessent said that the United States views the significantly undervalued yen as a serious risk to economic stability in the Asian region and a key reason for the US government's recent joint intervention with Japan in the currency market. US Secretary of State Marco Rubio disclosed that negotiations between the United States, Iran, and Oman on increasing the number of ships allowed to transit the Strait of Hormuz have made progress, but a final agreement has not yet been reached. Qatari authorities confirmed that mediation efforts between the US and Iran are ongoing, with both sides still exchanging drafts of a potential agreement. The Houthi group in Yemen claimed responsibility for a drone attack on Najran Airport in southwestern Saudi Arabia yesterday. The Los Angeles Times reported that just hours before US President Donald Trump attended a fundraiser at his golf course in Rancho Palos Verdes, California, US authorities arrested a man carrying a large number of weapons after he was found walking inside the golf course grounds on Sunday. US job openings fell to 7.359 million in June, below analysts' expectations of 7.440 million, while the US trade deficit narrowed by 5.6 percent to 73.3 billion dollars in June, but was higher than the forecast of 73.0 billion dollars.
