Overnight rebound in US tech stocks provided a positive impetus to Asian markets, yet escalating geopolitical tensions in the Middle East drove oil prices higher, sparking renewed concerns over inflation and global growth prospects.
KUALA LUMPUR, March 18, 2026 – Asian stock markets opened generally higher today, buoyed by a strong overnight rebound in US technology stocks. The Nasdaq's gain of over 1% provided a positive impetus to regional tech shares. However, investor sentiment was also tempered by escalating geopolitical tensions in the Middle East, which led to a surge in international oil prices. Brent crude futures breached US$88 per barrel, hitting multi-month highs. The rise in oil prices sparked renewed concerns in the market about a potential resurgence of global inflationary pressures and the trajectory of central bank monetary policies. Despite this, both Singapore's Straits Times Index and Hong Kong's Hang Seng Index recorded modest gains, indicating a market balancing optimism with caution. The Malaysian market was similarly pulled by these two forces, ultimately closing slightly lower.
Share: