Oil prices soar after new attacks between US and Iran and Trump says peace deal is 'over'

War in the Middle East directly affects sectors of Brazilian industry that use petroleum derivatives as raw material
Jornal Nacional/ Reproduction
Asian stock exchanges closed without a defined trend this Wednesday (8), while oil prices soared more than 5% after the United States launched attacks against Iran and after US President Donald Trump said that the peace agreement with the Iranians was "over".
The American offensive took place after Washington accused Tehran of targeting three ships in the Strait of Hormuz.
Futures markets in New York operated with stability.
Brent oil, an international benchmark, rose 5.3%, quoted at US$ 78.09 a barrel at the beginning of this Wednesday. West Texas Intermediate (WTI) oil, a benchmark in the US, registered an almost identical increase of 5.4%, trading at US$74.23 a barrel. Both contracts had been accumulating recent falls, returning to the levels recorded before the start of the conflict with Iran, at the end of February.
Shares in China and Hong Kong advanced, while the other markets in the region operated mostly in decline.
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In Tokyo, the Nikkei 225 index fell 0.3%, to 68,077.96 points. In Seoul, the Kospi registered a sharp drop of 2.9%, closing at 7,429.13 points.
The South Korean index has been facing strong volatility: it surpassed the 9,000-point mark last month, but began to suffer from successive waves of profit-taking in large technology companies focused on artificial intelligence (AI), such as Samsung Electronics and SK Hynix. Samsung fell 2.9% early on Wednesday, after falling around 7% in the previous session. SK Hynix advanced 2.4%.
In Taiwan, the Taiex index recorded a slight drop of 0.2%.
On the other hand, in Hong Kong, the Hang Seng rose 2.4%, to 24,057.24 points. In mainland China, the Shanghai Composite index rose 0.5% to 4,011.05 points.
While the global boom in AI stocks has largely ignored Chinese stocks, investors now appear to be focusing on Beijing's domestic efforts to develop its own infrastructure in the sector.
The technology sector led Wednesday's rise in the Chinese market, with Tencent Holdings rising 3.1%, while e-commerce and financial giant Alibaba Group Holding soared 8.1%. Baidu advanced 4.7%.
In other Asian markets, Australia's S&P/ASX 200 index fell 0.7% to 8,738.90 points, while India's Sensex also closed down 0.7%.
The day before, the volatility of AI stocks put pressure on the New York stock exchanges again, dragging Wall Street into negative territory.
The S&P 500 fell 0.4%, to 7,503.85 points, although most shares in the index closed higher.
The devaluation of companies linked to artificial intelligence dropped the Nasdaq technology index by 1.2%, to 25,818.69 points. The Dow Jones Industrial Average fell 0.2%, moving away from its all-time high to close at 52,925.15 points.
Markets have been hit by fears that AI stocks have risen beyond justification and that massive investments in chips and data centers may not generate the productivity gains and profits needed to validate such valuations.
Advanced Micro Devices plunged 6.5%, Intel fell 9.7% and Micron Technology lost 4.7%.
SpaceX, controller of the xAI operation, fell 6.8% in its debut on the Nasdaq 100 index.
In the automotive sector, electric vehicle manufacturer Rivian Automotive fell 18.1% after announcing the issuance of 75 million new shares, a move that dilutes the stake of current shareholders.
In the foreign exchange market, the US dollar rose to 162.38 yen, against 162.11 yen at the previous close. The euro operated stable, quoted at US$ 1.1414.

Source: G1

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