SynopsisAsian chip stocks experienced a remarkable uptick, fueled by lingering investor enthusiasm for artificial intelligence technologies. As Middle Eastern conflicts intensify, Brent crude oil prices are edging closer to the $100 per barrel mark.

The Kospi index in South Korea gained one percent, largely due to gains from major chip firms. Market participants are eagerly anticipating US consumer price data, which could influence the Federal Reserve's upcoming interest rate decisions.

APAsian chip stocks extended their recent gains on sustained investor interest in the artificial-intelligence trade. Escalating Middle East hostilities pushed Brent crude toward $100 a barrel.

Asian chip stocks extended their recent gains on sustained investor interest in the artificial-intelligence trade. Escalating Middle East hostilities pushed Brent crude toward $100 a barrel.

South Korea’s Kospi climbed 1%, helped by gains in both of the nation’s chip giants, SK Hynix Inc. and Samsung Electronics Co.

3% in New York. 4%, with the information technology sector making the biggest contribution.

50 a barrel, the highest since July. Crude climbed after the US struck Iranian tankers near the vital crude-export hub of Kharg Island, stoking fears of deeper disruptions through the Strait of Hormuz.

With the Iran war now in its seventh month, renewed attacks on energy infrastructure risk keeping oil prices elevated and complicating the outlook for inflation and interest rates. Investors will be watching to see whether the latest escalation further disrupts supplies, with Friday’s US consumer-price report set to provide the next major test of expectations for a Fed rate increase at its Sept.

“With geopolitical tensions and oil prices on the rise, the markets may find it difficult to focus on much beyond the inflation discussion,” said Chris Larkin at E*Trade from Morgan Stanley. While the US says it has largely shifted its attention toward economic pressure on Iran, repeated outbreaks of violence have kept the conflict simmering.

Earlier, Iran’s semi-official Tasnim news agency reported that a US missile had hit an Iranian tanker off the coast of Kharg. All tanker crews near Kuwaiti and Bahraini piers should “immediately abandon their vessels, whether at anchor or docked, as they will be targeted,” Iran’s state TV reported, citing an Islamic Revolutionary Guard Corps statement.