Trending 
Oil prices surged again Wednesday while global stock markets delivered mixed results as investors cautiously awaited critical US consumer price index data to gauge the Federal Reserve’s next interest rate moves.
Persistent high inflation—exacerbated by the ongoing conflict with Iran—and recent weak labour market data have heightened expectations that the Fed may raise borrowing costs before the end of the year.
Unresolved tensions surrounding the closed Strait of Hormuz continue to push crude prices upward, with both major contracts gaining roughly 14 per cent over the past week despite brief hopes for regional diplomatic breakthroughs.
Asian and European equity markets presented a varied picture as traders absorbed both macro uncertainties and corporate earnings.
South Korea’s Kospi rallied over 3 per cent, driven by rebounds in major chipmakers like Samsung and SK Hynix following strong quarterly reports from US artificial intelligence firms.
Other regional markets, including Tokyo and Shanghai, recorded modest gains, whereas indexes in Hong Kong, Sydney, and Singapore declined.
European exchanges opened flat to slightly higher as investors held back ahead of the official US inflation report.
