Asian Markets React to Oil Surge | Global News

Asian markets traded mixed this week as investors braced for rate moves and oil-driven inflation fears—Japan flat, Korea up slightly, Hong Kong down, Shanghai edged higher, while Australia and India slipped. Oil surged past $100/barrel amid Middle East tensions, stoking inflation worries ahead of Friday’s key U.S. report. Economists expect August inflation to dip to 3.3% from 3.4%, still far above the Fed’s 2% target. Treasury yields climbed near their highest since late last year, fueling speculation of a Fed rate hike next week. Japan’s central bank also faces rate hike expectations, while U.S. Treasury Secretary comments on yen policy add to global market jitters. Currencies shifted as the dollar weakened against the yen and the euro gained modestly, reflecting mounting uncertainty across global economic policies.

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