Asian stocks were mixed amid expectations for measures to stabilize U.S. markets. U.S. Treasury Secretary Bessent is expected to announce fiscal consolidation measures soon.
Asian stocks moved in divergent directions, with the Hang Seng Index and other benchmarks edging higher, while rising oil prices and renewed geopolitical risks weighed on markets. Expectations for U.S. market stabilization were cited as a factor supporting prices, and trading was active across markets.
President Trump said he would impose the “most devastating” economic measures in history on Iran, while Treasury Secretary Bessent is reportedly scheduled to announce details of the sanctions on Iran on the 24th. Oil prices turned higher again on concerns that the situation could drag on, also affecting the direction of long-term interest rates.
South Korean stocks were broadly higher, supported by a recovery in technology shares. Reports that Samsung Electronics is expected to announce its shareholder return plan have emerged, while caution and optimism are both building ahead of next week’s corporate earnings announcements. South Korean investors awaiting NVIDIA’s earnings are closely watching the sustainability of AI-related demand.