Markets live updates: ASX set to open higher as Wall Street rallies, oil price drops
Asian markets saw modest gains following a global rally, while oil prices remained steady amid ongoing US-Iran tensions. Investors are closely watching the Federal Reserve, with market data suggesting a high probability of an interest rate hike in September.
Why it matters
Global market fluctuations and central bank interest rate decisions directly impact international investment strategies and economic stability.
Asia stocks move higher on Wall Street lead, oil steady Y By Yiying Li
Asian markets made cautious gains at the start of trading as investors followed a global rally, with oil prices holding near the lowest levels in weeks as the US-Iran conflict remained at a stalemate.
MSCI's broadest index of Asia-Pacific shares outside Japan was up 0.1%, led by South Korean shares rallying as much as 2.1%.
Japan's Nikkei 225 slid 0.3%, while S & P 500 e-mini futures nudged 0.1% higher.
Oil prices made limited gains as trading resumed in Asia, with Brent crude up 0.6% at $US84.29 a barrel, after falling to a three-week low on Monday as US President Donald Trump said he had held off on a fresh attack on Iran as a gesture of goodwill in peace talks.
However, Tehran has denied that any negotiations are taking place.
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