Asian and US Markets Rise on Cooling Inflation Amid Middle East Tensions
Asian and US stock markets rallied Wednesday following data showing US core inflation cooled to its lowest level since February. This moderation in consumer and producer prices bolstered investor sentiment, particularly within the semiconductor sector, where South Korea's SK Hynix saw shares jump 8% and Tokyo markets gained on renewed optimism. However, global gains remained moderate as geopolitical instability weighed on the outlook. Oil prices climbed for a third consecutive day after Iran threatened to block Middle East energy exports in response to a US blockade of Iranian ports, raising fears of potential conflict and supply disruptions in the Strait of Hormuz.
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Wall Street's main indexes edged higher on Wednesday, as softer-than-expected producer inflation data and a flurry of corporate earnings supported sentiment, while PayPal surged on news of a $53 billion takeover offer.
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