Middle East war jolts oil, dollar gains, Asia tech winners emerge
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This week we were reminded that a conflict thousands of miles away can move markets in minutes. Escalating military strikes in the Middle East rattled investors, pushed oil prices higher and sent money rushing back into the US dollar and other perceived safe havens. For economies in Asia that depend heavily on imported energy, the ripple effects has shown up quickly from higher fuel costs to pressure on inflation.
In this episode of Market Focus Weekly, Howie Lim sits down with Raisah Rasid, vice president and global market strategist at JP Morgan Asset Management, to make sense of a week that felt rather chaotic. The conversation starts with the immediate market reaction: oil rising, currencies shifting and equity markets wobbling. But as Rasid explains, the bigger question is whether this is simply another short-lived geopolitical shock or something with longer economic consequences.
Why listen
- Why the Middle East conflict matters to Asia The issue isn’t just oil supply, it’s the key shipping routes that move crude from the Gulf to Asia.
- Who really feels the pain of higher oil Countries that import most of their energy, such as India and South Korea, could see pressure on trade balances.
- Why gold isn’t behaving like a classic safe haven A stronger US dollar and interest rate expectations are complicating the usual flight to precious metals.
- Asia’s tech story still intact Short-term sell-offs may be driven by sentiment, but structural drivers in sectors like semiconductors remain strong.
- Where AI winners might emerge next Hardware producers across Asia could benefit even as questions swirl around US software valuations.
This week’s markets are a reminder that volatility can arrive quickly but understanding what actually matters, and what is just noise, will make a difference in the weeks ahead. Listen now.
Discover more episodes at bt.sg/podcasts. Got feedback? Email us at btpodcasts@sph.com.sg.
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Written and hosted by: Howie Lim (howielim@sph.com.sg)
With Raisah Rasid, vice president and global market strategist, JP Morgan Asset Management
Edited by: Howie Lim & Claressa Monteiro
Produced by: Howie Lim & Chai Pei Chieh
A podcast by BT Podcasts, The Business Times, SPH Media
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