Tensions and Technologies: Market Movements in Focus

Asian markets were quiet due to the Lunar New Year, yet concerns about U.S.-Iran tensions persisted. As oil prices rose on supply fears, there was renewed optimism in tech stocks thanks to Nvidia's AI chip deal with Meta. Discussions on AI's economic impact divided U.S. Federal Reserve members.

Thursday was a quiet day for Asian markets, largely due to the ongoing Lunar New Year holidays. However, investors closely monitored geopolitical tensions between the U.S. and Iran, as the two nations remained divided over nuclear activities despite some progress in recent Geneva talks.

Despite plans for Iran to propose solutions to resolve their disagreements, nervousness persisted over the possibility of a U.S. strike, which could last weeks, according to Rabobank Senior Global Strategist Michael Every. Oil prices surged amid concerns over potential supply disruptions.

Meanwhile, technology stocks found relief with Nvidia's multi-year AI chip deal with Meta Platforms, sparking renewed optimism. U.S. Federal Reserve discussions also focused on AI's economic impact with potential for both inflationary pressures and a productivity boost.

(With inputs from agencies.)