Asian Markets Rise Amid Focus on Oil Prices

Asian markets opened higher on Thursday morning, with investors continuing to monitor rising oil prices after the United States launched new strikes against Iran. Japan’s Nikkei 225 rose 0.55% while the Topix gained 0.22%. South Korea’s Kospi index climbed 2.3%, while the small-cap Kosdaq advanced 1.42%. Australia’s benchmark S&P/ASX 200 added 0.72%. US Secretary of State Marco Rubio stated that Tehran was not serious about negotiations. Investors are watching crude oil prices closely, as a sustained increase could keep inflation elevated and complicate the Federal Reserve’s interest rate policy. ‘Without strong earnings reports to serve as a distraction, investor attention has returned to the war,’ said Hardika Singh, an economic strategist at Fundstrat. ‘Those who previously thought oil prices had peaked are now forced to recalculate inflation forecasts from scratch. Now, more than ever, pricing power remains key for companies if they want to be rewarded by investors.’