​​​Macro Update

​Oil rebounds above $100 a barrel: Brent crude rose above $100 after renewed US-Iran clashes threatened the fragile ceasefire and raised concerns over shipping disruption in the Strait of Hormuz, although both Brent and WTI were still on track for weekly declines of around 6%.

​AI optimism supports Asian equities: Asian markets eased from record highs but remained set for strong weekly gains as AI infrastructure demand continued to support chipmakers, with South Korea’s KOSPI heading for its biggest weekly rise since 2008 and Taiwan’s benchmark up 7% this week.

​Japanese stocks retreat from record highs: The Nikkei fell 0.3% after surging above 63,000 in the previous session, pressured by a 4.6% drop…