Asian shares advanced and US equity-index futures held onto Friday’s gains as technology stocks extended their rebound. Oil edged lower.

MSCI’s Asia Pacific Index climbed 0.5 per cent, with more than two shares rising for every one that declined in the gauge.

The Kospi Index advanced 2.2 per cent, ahead of this week’s $29 billion US listing for SK Hynix Inc. Elsewhere, equity-index futures for Wall Street gauges held their gains from Friday, when the US markets were shut for a holiday. Futures for the S&P 500 Index rose 0.5 per cent, while those for the Nasdaq 100 climbed 1.4 per cent. 

Oil slipped as energy flows through the Strait of Hormuz persisted and OPEC+ signalled higher supplies. Brent slipped 0.3 per cent to $71.88 a barrel as shipping through the US-protected corridor in the waterway showed signs of recovering. OPEC+ members also backed another modest rise in collective quotas for next month.

Markets entered the second half of the year on a cautious footing as investors weigh the fallout from the Iran war’s energy shock and whether the AI-driven rally can be sustained. Following last week’s recovery from a two-day rout in chipmakers, attention has shifted to earnings season for signs that massive spending on AI infrastructure is translating into profits.

“Tech stocks and tech-heavy indices in the US and Asia have entered a period of consolidation ahead of the Q2 earnings season,” said Tony Sycamore, an analyst at IG Markets in Sydney.

In other corners of the market, gold gave up its initial gains to trade around $4,175 an ounce. Silver rose 0.4 per cent to about $62.66 an ounce. 

Meanwhile, Goldman Sachs Group Inc. revised its yen forecast to 165 per dollar in a year’s time from 155 previously. The Japanese currency traded at 161.45 to the greenback in early Asian trading, while the dollar was steady.

“The broader macro backdrop of higher-for-longer US yields, low recession risk, lingering fiscal concerns, and only gradual BOJ hikes strongly argues for continued depreciation pressure on the currency,” strategists including Kamakshya Trivedi wrote in a note.

In forex, the won is also in focus. The Korean currency was steady after rebounding late Friday from its weakest level against the dollar since 2009 after a person familiar with the matter said the nation’s officials were preparing for currency flows related to SK Hynix’s offering of American depositary receipts.

The move to 24-hour trading for the currency is the centerpiece of Seoul’s years-long push to improve foreign investors’ access to local markets and bolster the case for an upgrade to MSCI Inc.’s developed-market index.

Treasuries were steady as cash trading resumed following Friday’s holiday. The US bond market faces a test of investor demand for longer-dated maturities this week, with auctions of 10- and 30-year Treasuries highlighting an otherwise light week for economic events. 

The auctions come as minutes from the Fed’s June meeting will be closely parsed after Chair Kevin Warsh tempered his hawkish inflation stance last week. Traders trimmed expectations that a hike was imminent following softer-than-expected jobs data and Warsh’s comment that inflation pressures had eased.

Some of the main moves in markets:

Stocks

Currencies

Cryptocurrencies

Bonds

Commodities

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Published on July 6, 2026