Asian Stocks Recover as Tech Rout Eases; Oil Climbs on Hormuz Tanker Strike

what happened

Dow Jones Newswires reports that Asian equity markets bounced back after several days of global selling in technology shares, although investors remain wary of heavy spending on artificial intelligence.

Seoul's Kospi climbed 3.65% in early Wednesday trade, Tokyo's Nikkei gained 1.8%, Hong Kong's Hang Seng rose 1.1%, and Shanghai's Composite edged up 0.1%. Upbeat results from SpaceX and Super Micro Computer lifted sentiment overnight. Still, a draft prospectus seen by The Wall Street Journal shows Anthropic recorded a net loss above $80 billion in the first half of 2026 and lists numerous risks, which keeps buyers cautious. Shares of Elice, a Seoul-based cloud company focused on AI, fell more than 30% on their first day of trading on Tuesday, a sign of growing unease over AI infrastructure funded with debt.

Oil rose in early Asian trade after Iran's Revolutionary Guards said they hit two tankers trying to cross the Strait of Hormuz, according to Iranian state media. WTI futures gained 0.7% to $98.51 a barrel, while Brent rose by the same amount to $109.51. Gold slipped 0.3% to $4,110.75 an ounce and silver fell 0.8% to $57.52, as higher crude feeds inflation worries.

why it matters

The rebound looks fragile for markets, since questions about AI companies' balance sheets and financing now weigh alongside growth prospects. Gulf oil exports have already moved above prewar levels thanks to a shipping system protected by the United States, yet crude remains sensitive to any fresh attacks in Hormuz. That backdrop also pressures precious metals, because costlier energy supports expectations of higher inflation.

market impact

Asian indices and AI stocks: easing tech jitters supports prices; oil: Hormuz risks keep pressure on Brent.

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