Asian stocks rose for the sixth consecutive day, buoyed by significant gains in the technology sector, particularly among chipmakers, which propelled the Nasdaq 100 to its first record high since June. On September 23, 2026, MSCI’s Asia Pacific equity index increased by 0.4 percent, with notable gains in South Korea and Australia, while Japanese markets were closed for a holiday.
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Futures for the S&P 500 showed little movement at 9:02 AM Tokyo time, while Hang Seng futures rose by 0.3 percent and Australia’s S&P/ASX 200 climbed by 0.2 percent. The bullish regional trends followed a 0.8 percent rise in the Nasdaq 100 Index, supported by a more than 2 percent increase in a prominent semiconductor index. Notably, Shopify's stock surged 7.1 percent after it announced a partnership with Meta Platforms for its Muse AI product.
In the commodities market, Brent crude oil prices fell to $98.45 a barrel as diplomatic overtures to reduce tensions with Iran gained traction. US President Donald Trump acknowledged a positive meeting with Iranian officials aimed at resolving the ongoing conflict. As a result, investors are closely watching geopolitical developments, particularly regarding the prospects for oil prices and inflation.
Treasuries remained steady, the US dollar gained slightly, and gold prices stabilized following previous losses. The future performance of stocks may be closely linked to the success of diplomatic efforts to lower oil prices, which could alleviate inflation concerns and bond yield pressures.
Looking ahead, investors are also attentive to an upcoming summit between President Trump and Chinese President Xi Jinping for updates on trade relations. Tom Essaye from The Sevens Report noted that confirmation of progress toward a US-Iran ceasefire could further influence oil prices, yields, and stock market performance.
Recent discussions included Iran's proposal to reopen the Strait of Hormuz within a week, and Saudi Arabia's expectation to resume operations on its East-West pipeline. These developments coincided with renewed US efforts to resolve the conflict, with President Trump suggesting that hostilities could conclude soon after the US midterm elections.
The ongoing conflict has caused a spike in petrol prices and disrupted global oil supply chains, also leading to threats against US interests in the region. Ryan McKay, a senior commodity strategist at TD Securities, commented on the increased flows through the Strait, indicating a potential reduction in Iranian leverage and a greater likelihood of negotiations, but also a risk of escalation.