Asian markets primarily opened on a positive note on Tuesday, June 30, following gains in the Wall Street. Japan’s Nikkei 225 advanced more than 1.41% and the Topix surged 0.88%. South Korea’s Kospi gained 1.17%, while the small-cap Kosdaq dipped 0.88%.
The surge in the Asian Markets came after a rally in the Wall Street, largely by chipmakers. The S&P 500 rose 1.2% and the Nasdaq 100 jumped nearly twice on Monday. US Stocks recovered on Monday after the recent AI-led selloff put global equities in line for their best quarter in nearly six years. Investors will now focus on US-Iran talks on Tuesday and US June jobs data on Thursday that may indicate whether the Federal Reserve will hike interest rate.
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Meanwhile, Japanese currency yen opened around 161.93 on Tuesday after depreciating to 161.98 versus the greenback in New York trading. The currency’s slipped to its lowest level since 1986, according to data collected by Bloomberg.. Focus will be on yen as a weaker currency has strengthened exporters’ profits and pushed the country’s stocks to record highs, but has raised import costs.
Oil prices continued to gain on Tuesday ahead of US-Iran talks in Doha, with fresh disagreements over control of the Strait of Hormuz clouding hopes of a lasting resolution to the four-month conflict. Brent crude for September delivery traded at around $73 a barrel after jumping 1.8% in the previous session, while West Texas Intermediate (WTI) was near $70 a barrel.
US President Donald Trump in a post on Truth Social said that peace takks with Iran will be conducted on Tuesday in Qatar’s capital, following weekend of clashes in the Middle East. Iran requested the meeting and it will take place in Doha, Trump said.