Asian stock markets are predominantly lower on Thursday, reflecting negative sentiment from Wall Street amid ongoing geopolitical tensions and rising crude oil prices. Concerns over inflation and the potential for further sanctions on Russia by U.S. President Joe Biden during his European visit have exacerbated market unease. The Australian market, however, is slightly up, buoyed by gains in materials and energy stocks, while technology and financial sectors are seeing profit-taking.

The Australian S&P/ASX 200 Index is hovering just below the 7,400 mark, with major miners like BHP and Rio Tinto gaining nearly 2%. In contrast, Japanese equities are sharply down, snapping a seven-session winning streak, as profit-taking ensues across sectors. Notably, the Nikkei 225 has fallen below 27,700, with significant losses in tech and banking stocks.

Market professionals should note the impact of rising crude oil prices on commodity-related stocks, while geopolitical developments continue to create volatility. The divergence in performance between sectors highlights the need for a strategic approach to portfolio management in this uncertain environment.

StoxFeed tracks this as a market signal: Oil prices are responding to OPEC decisions and geopolitical tensions

Source: nasdaq.com