.jpg)
1 hour ago
4
Article content
(Bloomberg) — Asian stocks were poised for losses on Thursday as renewed clashes between the US and Iran added strain to a fragile ceasefire.
THIS CONTENT IS RESERVED FOR SUBSCRIBERS ONLY
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
SUBSCRIBE TO UNLOCK MORE ARTICLES
Subscribe now to read the latest news in your city and across Canada.
- Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.
- Daily content from Financial Times, the world's leading global business publication.
- Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.
- National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.
- Daily puzzles, including the New York Times Crossword.
REGISTER / SIGN IN TO UNLOCK MORE ARTICLES
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account.
- Share your thoughts and join the conversation in the comments.
- Enjoy additional articles per month.
- Get email updates from your favourite authors.
THIS ARTICLE IS FREE TO READ REGISTER TO UNLOCK.
Create an account or sign in to continue with your reading experience.
- Access articles from across Canada with one account
- Share your thoughts and join the conversation in the comments
- Enjoy additional articles per month
- Get email updates from your favourite authors
Sign In or Create an Account
or
Article content
Equity-index futures for Japan and Hong Kong signaled losses at the start, putting a regional benchmark on track to end a four-day rally that carried it to a record. After the close, Broadcom Inc. shares tumbled in post-market action as its outlook failed to impress investors.
Article content
Article content
Article content
Contracts for the S&P 500 Index fell 0.5%, after the underlying gauge pulled back from a peak and snapped a nine-day winning streak. That came after the US and Iran exchanged fire overnight, drawing Kuwait and Bahrain into one of the most serious flare-ups since a ceasefire took effect in early April.
Article content
By signing up you consent to receive the above newsletter from Postmedia Network Inc.
Article content
In some relief for markets, American crude declined 0.8% to $95.23 a barrel and US bond futures inched higher after the US announced a ceasefire between Israel and Lebanon. Elevated oil prices and signs of resilience in the US labor market sent Treasuries lower Wednesday, as traders increased bets that the Federal Reserve’s next move will be to raise interest rates.
Article content
The moves followed days of rising tensions in the Middle East, including Israeli operations against Hezbollah in Lebanon, that risk derailing US-Iran talks and undermining a fragile ceasefire. While the AI-driven rally has propelled equities to record highs, a fresh wave of geopolitical risks is testing investors’ willingness to look past higher oil prices.
Article content
“We are no longer watching a delicate ceasefire, instead what is occurring is more akin to a low-intensity conflict,” said Chris Beauchamp, chief market analyst at IG. “This simply leaves the vital issue of oil supplies unresolved, and the clock continues to tick down towards doomsday for oil inventories and the global economy.”
Article content
Article content
Some investors also warned that the booming artificial-intelligence market is showing signs of a bubble that will eventually burst.
Article content
“All great technology changes produce bubbles,” billionaire investor Ray Dalio, the founder of Bridgewater Associates, said in a Bloomberg Television interview Wednesday.
Article content
Elsewhere, the dollar, the haven of choice during the Middle East conflict, gained the most in two weeks during the New York session. Non-interest-bearing gold fell 1.2% to $4,434 an ounce.
Article content
In Asia, the yen hovered near the 160-per-dollar level after comments from Bank of Japan Governor Kazuo Ueda that make an interest rate hike this month sound likely but not certain.
Article content
Attention also turned to the US labor market, where data showed companies added the most jobs since January 2025, suggesting hiring momentum remains intact despite higher energy costs. If confirmed by Friday’s payrolls report, the figures may reinforce expectations that the Fed is more likely to raise rates in the months ahead.
Article content
Investors will get another read on the labor market on Thursday with weekly jobless claims, ahead of the government’s monthly employment report on Friday.
English (US)