Mixed trend in global markets: Chip stocks rise in Asia
While Asian stock markets rose led by chip makers in Tokyo and Seul, a generally mixed outlook prevailed in global markets.
As global markets painted a mixed picture on the first day of the week, chip-making company stocks in the Tokyo and Seoul stock exchanges experienced a strong rally. Energy markets and developments on the US-Iran line are also being closely monitored.
European and US Futures Markets
France's CAC 40 index reached 8,282.06 with very little change in early trading.
While Germany's DAX index fell 0.2% to 25,993.23, the UK's FTSE 100 index dropped 0.2% to 10,814.01.
In US stock markets, Dow futures recorded a 0.3% decline, while S&P 500 futures remained flat.
Asian Stock Markets and Chip Rally
Japan's Nikkei 225 index closed up 2.1% at 66,399.84 points.
South Korea's Kospi index surged 4.6% to reach 6,995.39 points, leading the rise in the region.
Samsung Electronics shares showed a notable increase of 5.7%, and SK Hynix of 8.1%.
Energy Markets and Geopolitical Developments
International benchmark Brent crude rose 4 cents to $96.32 per barrel.
The US military denied allegations that Iran struck an unmanned American military vessel in the Strait of Hormuz.
US crude oil fell 29 cents to $91.19 per barrel.
Market Expectations and Exchange Rates
US markets will remain closed on Monday due to the Labor Day holiday.
Investors expect the Federal Reserve to raise interest rates before the end of the year in order to cool inflation.
In the foreign exchange market, the US dollar declined against the yen, while the euro recorded a slight increase.