📈 Asian Shares Rise on Chip Rally Amid Surging Oil Prices

Global market dynamics shifted on Thursday as semiconductor stocks rebounded, countering inflation fears driven by escalating tensions in the Gulf. Market Performance & Sectors • Asia-Pacific Markets: MSCI’s broadest index outside Japan rose 0.8%. Japan's Nikkei climbed 2.3%, breaking a three-day losing streak, while South Korea’s KOSPI jumped 3.8%. • Tech Rebound: The global tech sector got a boost as Samsung rose 3.6%, SK Hynix surged 7.5%, and Nvidia rallied 3.6% following reports that China will allow limited purchases of H200 AI chips. Commodities & Macroeconomic Impact • Oil Surge: Brent crude futures rose 0.8% to US$ 78.65 a barrel—up 9% this week—briefly crossing US$ 80.00 for the first time since June 22. This followed fresh US military strikes in Iran and the termination of the interim Gulf peace agreement. • Bonds & Interest Rates: Spurring global inflation fears, the oil surge triggered a bond sell-off. US 10-year Treasury yields climbed to 4.5852%, while market bets increased for Federal Reserve interest rate tightening by 38 basis points this year. • Currencies & Gold: The US dollar dipped 0.2% to 162.38 yen, remaining near 40-year peaks. The Euro rose 0.1% to US$ 1.1428, while Gold remained flat at US$ 4,079 per ounce. _Note: Summarized based on international market data available on July 9, 2026. High oil prices historically impact Sri Lanka's import bills and energy costs._