This content was published on
June 9, 2026 - 03:52
5 minutes
(Bloomberg) — Asian stocks rebounded after their biggest drop since March as tensions in the Middle East eased and a selloff in artificial intelligence shares abated.The MSCI Asia Pacific Index climbed 1.3%, its first advance following three days of losses spurred by factors including bets for an interest-rate hike by the Federal Reserve. The Kospi Index in South Korea, the world’s best-performing gauge this year on the back of AI-related gains, advanced as dip buyers returned, led by a 8.1% jump in SK Hynix Inc. and a 3.9% rise in Samsung Electronics Co. Ltd.Futures contracts for the Nasdaq 100 Index erased earlier losses to advance 0.3%. Optimism toward technology stocks remained firm as investors found fresh reasons to back the AI trade. SpaceX’s initial public offering was well oversubscribed, Nvidia Corp. and SK Hynix sealed a pact to develop chips and Apple Inc.’s AI-led reboot set the stage for new devices.Adding to the sentiment, Brent crude fell 0.5% to trade below $94 a barrel after Iran and Israel pledged to ease strikes that threatened the peace talks in the Middle East.After a brief interruption to the rally that propelled markets to record highs, investors are making a cautious return to equities on expectations the bull market still has room to run, driven by corporate profits. Sentiment has also improved as geopolitical tensions ease, reducing concerns over oil-driven inflation and the prospect of higher interest rates.“Markets rarely move in a straight line at the pace seen since the March lows,” according to Morgan Stanley’s Mike Wilson, who maintained his constructive outlook, supported by earnings and strong economic data. “A correction was inevitable and ultimately healthy if this bull market is going to extend into year-end.”In other corners of the market, gold edged 0.1% higher to around $4,340 an ounce while a Bloomberg gauge of the dollar was little changed.Treasuries slipped, sending the yield on the benchmark 10-year higher by one basis point to 4.57%.Meanwhile, Iran and Israel agreed to ease strikes against each other after a flare-up in violence threatened to derail peace negotiations and led President Donald Trump to appeal for de-escalation.Attention remains focused on whether energy flows will resume meaningfully via the Strait of Hormuz. A trickle of commercial shipping returned to the waterway over the weekend, even as the risks prompted some vessels to travel with their digital transponders switched off.Oil prices and their impact on inflation are key factors traders are watching after Friday’s blowout payrolls report reinforced bets on a rate hike. The May consumer price index due Wednesday is expected to jump by 4.2% from a year earlier — the highest rate in more than three years.But the core CPI is seen cooling slightly on a monthly basis — potentially providing a welcome signal to Fed officials.Meantime, Citigroup Inc. strategists led by Scott Chronert raised their year-end target for the S&P 500 after a “big step up” in earnings expectations.“We do not expect investors to lose confidence in the AI outlook,” said Mark Haefele at UBS Global Wealth Management. “Although tech stocks have come under pressure in recent days amid concerns about whether expectations can be met, business fundamentals remain strong.”Not everyone was as bullish. Investors should exercise caution regarding US stocks as an increasing number of “bear market signposts” point to an approaching top, according to Bank of America Securities.There are “too many red flags,” strategists led by Savita Subramanian wrote in a note dated June 5. “Take profits,” they said.Corporate News:OpenAI, the maker of ChatGPT, filed confidentially for an IPO, joining artificial intelligence rivals in tapping public markets to fund ambitious growth plans. SpaceX’s initial public offering is well oversubscribed, according to people familiar with the matter, as demand builds for a potentially record-setting debut. The Pentagon accused some of China’s biggest companies including Alibaba Group Holding Ltd., Baidu Inc. and BYD Co. of supporting the Chinese military. A federal judge struck down a $100,000 fee President Donald Trump ordered for H-1B visa applications, providing a reprieve for US technology companies. Some of the main moves in markets:StocksS&P 500 futures rose 0.1% as of 10:47 a.m. Tokyo time Japan’s Topix rose 0.8% Australia’s S&P/ASX 200 fell 0.6% Hong Kong’s Hang Seng fell 0.3% The Shanghai Composite rose 0.2% Euro Stoxx 50 futures fell 0.4% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1538 The Japanese yen was little changed at 160.19 per dollar The offshore yuan was little changed at 6.7786 per dollar The Australian dollar rose 0.2% to $0.7057 CryptocurrenciesBitcoin fell 1.1% to $62,773.02 Ether fell 1.1% to $1,670.49 BondsThe yield on 10-year Treasuries was little changed at 4.57% Japan’s 10-year yield advanced 2.5 basis points to 2.740% Australia’s 10-year yield advanced five basis points to 4.96% CommoditiesWest Texas Intermediate crude fell 0.6% to $90.77 a barrel Spot gold rose 0.2% to $4,337.04 an ounce This story was produced with the assistance of Bloomberg Automation.–With assistance from Rob Verdonck.©2026 Bloomberg L.P.
