Asian shares tumble, oil rises as markets await AI sector results

Business Recorder reported that Asian stocks mostly retreated on Tuesday, with the MSCI Asia ex-Japan index down 0.93 per cent and Japan's Nikkei 225 losing 1.28 per cent. South Korea's KOSPI was the steepest faller, sliding 3.61 per cent. Unrest in France, where authorities set curfews overnight in parts of Paris, Lille and Nice, pushed investors toward safe-haven assets and kept the dollar firm against the euro.

Oil prices climbed as markets weighed an executive order signed by President Donald Trump, which set aside some sanctions and levies connected to Russian energy. West Texas Intermediate, the US benchmark, added 0.15 per cent to $103.82, whereas Brent gained 0.21 per cent to $109.78 a barrel. Trump indicated on Saturday that a final decision on the matter was still pending. Spot gold, meanwhile, slipped 0.51 per cent to $4,118.71 an ounce.

Investors are now looking to corporate earnings for signs that households and the wider economy are holding up. Meta reports on Wednesday, followed by Tesla, Lam Research and Texas Instruments later this week. Goldman Sachs expects five AI hyperscalers, Meta among them, to raise combined capital spending to roughly $1.2 trillion next year. Ahead of these releases, the mood across markets has been cautious.