"Any disruption in the region is not as harmful as before," analyst Christopher Low said.
Traders work on the floor at the New York Stock Exchange in New York, Monday, Jul 6, 2026. (Photo: AP/Seth Wenig)
10 Jul 2026 05:20AM
NEW YORK: Global stock markets were largely positive on Thursday (Jul 9) as investors rediscovered their appetite for tech names and brushed off a new volley of strikes between the United States and Iran, with oil prices falling slightly.In New York, the main indexes closed higher, with the tech-rich Nasdaq Composite jumping 1.3 per cent."Part of the story that people are missing is just how much oil production has increased outside of the Gulf" since the beginning of war in the Middle East, said Christopher Low of FHN Financial.This means any disruption in the region is not as harmful as before, Low added.In Europe, Paris and Frankfurt ended the day higher, while London was dragged lower by a sharp fall in AstraZeneca shares.Indications that a planned US listing by South Korean chip giant SK hynix is seven times oversubscribed have put pep back into tech stocks, which had fallen in recent sessions because of concerns about massive investment in artificial intelligence.SK hynix is expected to announce the pricing for its American Depository Receipts, and observers suggest it could raise as much as US$28 billion from the sale.The company's shares in Seoul closed 5.3 per cent higher, but remained below a record high reached last month after being swept up in the recent tech rout.
