Sydney 23 April 2026 (The Capital Post) – Asian stock markets climbed to record levels on Thursday, tracking strong gains on Wall Street as investors remained buoyed by robust corporate earnings despite rising concerns over escalating oil prices.
Major indices across the region, including Japan, South Korea and Taiwan, reached new highs, driven largely by strong performance in technology stocks and optimism surrounding global earnings growth.
The rally followed a positive session in the United States, where both the S&P 500 and Nasdaq closed at record highs, supported by early earnings results that reassured investors about the resilience of consumer demand even amid higher energy costs.
However, the upward momentum comes alongside mounting risks tied to surging oil prices, which have risen for several consecutive days amid ongoing tensions in the Middle East. Brent crude climbed above US$100 per barrel, fuelled by disruptions in key shipping routes such as the Strait of Hormuz.
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Analysts caution that while markets have so far brushed aside geopolitical risks, prolonged supply disruptions and sustained high energy prices could eventually weigh on global economic sentiment and corporate profitability.
In currency markets, movements remained relatively stable, while US Treasury yields showed little change despite the rise in oil prices, reflecting a cautious but steady investor outlook.
Market strategists noted that although optimism continues to drive equities higher, the growing list of global risks, particularly linked to energy supply constraints, could challenge the sustainability of the current rally if unresolved.-The Capital Post