Asian stocks are projected to open lower, influenced by escalating tensions in the Middle East that have pushed oil prices higher. This surge in oil prices is fueling inflation concerns, making investors wary of potential further monetary tightening by central banks. Despite this, the yen has maintained its gains, hovering near its highest level since February.
Futures for equity indexes in Japan, Australia, and Hong Kong indicate declines at the open. In contrast, South Korean equity-index futures signal gains, mirroring advances seen in Nasdaq 100 contracts. S&P 500 futures experienced a drop after a fluctuating previous session, which saw cash markets closed for a public holiday.
