Asian stocks are poised for gains, with equity-index futures for Japan and South Korea indicating an upward trend, while Australian futures remained stable. This comes as oil prices slightly increased due to heightened worries that escalating tensions between the US and Iran could disrupt global crude supplies and lead to inflation following weekend attacks.
US stock contracts showed little change after Friday's trading, where the S&P 500 declined by 0.4% and the tech-heavy Nasdaq 100 saw a 0.2% increase. The dollar maintained a narrow trading range against other major currencies, and Treasury cash trading was closed on Monday for a US public holiday.
This rise in oil prices is directly linked to the six-month-long conflict between the US and Iran, which has intensified recently. The Strait of Hormuz, a critical passageway for oil imports from the Middle East, is a key concern for many nations, including Japan, which relies almost entirely on imported oil.
