Asian Shares Slip as OPEC+ Adds Output and Oil Falls Below $68
Updated
Updated · The Herald Journal · Jul 6
Asian Shares Slip as OPEC+ Adds Output and Oil Falls Below $68
3 articles · Updated · The Herald Journal · Jul 6
Summary
Tokyo and Seoul stocks fell while U.S. futures were mixed after a long Wall Street weekend, with technology selling dragging regional benchmarks lower.
Semiconductor weakness deepened the move after an earlier rebound faded, reviving doubts about the durability of the AI-led rally; South Korea’s Kospi had already dropped 1.4% in earlier trading.
Oil slipped below $68 a barrel after some OPEC+ producers agreed to raise output next month, easing part of the recent supply squeeze.
Supply uncertainty still lingered because talks with Iran on fully reopening the Strait of Hormuz appeared paused during funeral ceremonies for Ayatollah Ali Khamenei.
Currency markets also reflected caution, with the U.S. dollar trading near 162 yen as investors weighed weaker tech sentiment against shifting energy risks.