Asian Stocks Rise as Oil Pressures Ease

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Asian Stocks Rise as Oil Pressures Ease

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Technology shares, including Broadcom Inc., were a particular focus after the company predicted a significant increase in artificial intelligence chip sales over the next two years.

Asian equities experienced a rebound on September 3, 2026, with MSCI’s Asia Pacific equities gauge advancing 0.5%. This positive shift followed a period of market caution at the start of September, driven by escalating tensions between the U.S. and Iran, which had pushed oil prices higher and fueled inflation concerns.

Oil prices, specifically Brent crude, slipped by 0.6% to $95.10 a barrel on September 3, 2026. This decline came after former President Donald Trump indicated that renewed attacks on Iran would likely be “short-lived” and reiterated his assertion of U.S. control over the Strait of Hormuz. Earlier in the week, on September 2, 2026, WTI futures opened at $90.72 per barrel and Brent crude at $95.20 per barrel. The ongoing conflict had led to Brent crude reaching a 52-week intraday high of $120.88 on April 30, 2026.

Technology stocks garnered attention, notably Broadcom Inc. The company forecast a substantial increase in artificial intelligence chip sales over the next two years. Broadcom reported that its AI chip revenue more than tripled to $16.7 billion in the third quarter of fiscal year 2026, a 221% year-over-year increase. The company also guided for $21.7 billion in AI semiconductor revenue for the fourth quarter of fiscal year 2026. Despite an overall positive outlook for AI chip sales, Broadcom’s fourth-quarter revenue forecast of $34.8 billion was slightly below analysts’ average estimates of $35.03 billion.

The broader market sentiment remains sensitive to developments in the Middle East, as the trajectory of oil prices is expected to influence inflation expectations and Federal Reserve policy. Investors are now looking ahead to the upcoming U.S. jobs report for further insights into the economy’s resilience and potential monetary policy adjustments.

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