Asian stocks rose on Wednesday for the first time in three sessions as cheaper oil eased pressure on the region. The MSCI Asia Pacific Index gained 0.4%, Japan's Nikkei 225 surged 1.56% and the broader Topix added 0.91%, while Brent crude held around $103 a barrel after tumbling 2.6% and WTI sat near $89.10, CNBC TV18 reported.
The lift was broad: South Korea's Kospi rose 0.65%, Taiwan jumped 1.19% to 48,200, Australia's ASX 200 gained 0.9% to 8,791 and Shanghai added 0.3%. Hong Kong lagged, with the Hang Seng slipping 0.25% to 24,463. US semiconductor strength carried into Asian trading, and President Trump's rejection of AI regulations read as a fresh positive for tech.
Bursa joins the bounce
Malaysia rode the wave. The FBM KLCI climbed 10.18 points, or 0.62%, to 1,654.14 at midday, moving between 1,645.03 and 1,656.87 in the morning session. Utility heavyweights led: Tenaga Nasional gained 32 sen to RM13.04, Petronas Gas added 20 sen to RM17.38 and YTL edged up one sen to RM2.30, BusinessToday reported.
The rebound started at the open, with the index up 5.20 points at 1,649.16 by 9.26am on bargain hunting after Tuesday's 1.6% plunge to 1,644. Analysts see resistance at 1,665-1,683 and support at 1,640, noting Saudi Arabia has restored about half the capacity of its East-West pipeline after the drone attacks, BusinessToday reported.
Oil's $4 relief valve
Crude's slide is doing the heavy lifting. Brent retreated to $103 from its Hormuz-driven spike above $106-107 as Middle East flows recovered to 98% of pre-war levels, Saudi pipeline repairs progressed and the US ordered up to 40 million barrels from the Strategic Petroleum Reserve. WTI settled 3.5% lower near $89.38, NDTV reported.
Yields still the boss
The rally has a ceiling. The 30-year Treasury yield pushed above 5.61% - its highest since 2002, extending a six-day climb - and tonight's US PCE inflation data at 8:30pm MYT will decide whether Asia's bounce survives the week. Watchlist extras: the yen at 156.4 on half-year-end flows, Australian CPI running hot at 4.0%, China's PMIs back above 50 - and a landmine blast in Korea's DMZ that injured three southern officers, investingLive reported.