SK Hynix surges in US debut as oil prices ease on OPEC+ output hike

Global markets showed mixed performance on Friday as investors weighed a blockbuster US debut from South Korean chipmaker SK Hynix against easing oil prices and geopolitical developments. SK Hynix's American Depositary Receipts jumped about 20% in their Nasdaq debut, following a $26.5 billion share sale, the world's second-largest IPO this year. The strong demand highlights continued enthusiasm for AI-related semiconductor stocks, even as other tech shares faced headwinds. Source: CNA

Oil Prices Slide

Oil prices declined, with Brent crude falling below $72 a barrel, returning to pre-war levels. The drop came after seven OPEC+ members announced a modest output increase of 188,000 barrels per day for August, the fifth consecutive monthly rise. Source: EuroNews The easing of tensions in the Strait of Hormuz, following a US-Iran ceasefire that allowed tanker traffic to resume, has further pressured prices. However, traffic remains below pre-conflict levels. Source: AP News

Yen Strengthens on Japan Pension Comments

The Japanese yen strengthened against the dollar after Finance Minister Satsuki Katayama said the government plans to encourage pension funds, including the Government Pension Investment Fund, to increase holdings of domestic assets. The yen rose about 0.4% to 161.77 per dollar, though it remained near 40-year lows. Source: CNA Analysts noted the move was modest and that further concrete measures are needed to sustain the rally.

Mixed Asian Markets

Asian markets were mixed. South Korea's Kospi fell 2.9%, dragged by tech shares, while Hong Kong's Hang Seng rose 2.4% on gains in Chinese tech stocks like Alibaba and Tencent. Source: AP News Japan's Nikkei 225 edged down 0.3%.