United News of Bangladesh

Asian stock markets were mixed on Wednesday as excitement over artificial intelligence-related shares eased and concerns over the ongoing conflict involving Iran continued to weigh on investor sentiment. Nikkei 225 in Japan rose 0.8 percent in afternoon trading, while Kospi in South Korea jumped 2.7 percent, recovering from earlier losses linked to uncertainty over possible government measures involving AI company profits. In Australia, the S&P/ASX 200 fell 0.5 percent. Hang Seng Index in Hong Kong was little changed, while Shanghai Composite Index in China gained 0.6 percent. Market analysts said strong corporate earnings and continued interest in AI stocks are still supporting markets, but rising oil prices and geopolitical tensions are making investors more cautious. Oil prices slipped in early trading but remained far higher than before the conflict in the Middle East intensified. Analysts said the disruption to shipping through the Strait of Hormuz has added to concerns about global energy supplies. On Wall Street overnight, the S&P 500 fell 0.2 percent from its record high. The Dow Jones Industrial Average edged up 0.1 percent, while the Nasdaq Composite dropped 0.7 percent. Technology and chip stocks led the decline. Intel fell 6.8 percent, while Micron Technology lost 3.6 percent. In the bond market, U.S. Treasury yields rose, reflecting expectations that the Federal Reserve will keep interest rates unchanged to control inflation. In currency trading, the U.S. dollar strengthened slightly against the Japanese yen, while the euro edged lower against the dollar. Investors are now watching developments in the Middle East and signals from central banks for clues about the direction of global markets.

Prime Minister’s Foreign Affairs Adviser Humaiun Kobir on Sunday said there is no reason for Bangladesh to be worried about fuel supplies despite growing instability in the Middle East following attacks by the US and Israel on Iran. The country currently has sufficient stock and there is no immediate concern, said the adviser when asked about the possible impact of the Middle East crisis on Bangladesh, particularly regarding fuel supplies. He came up with the information while talking to reporters after a meeting with Prime Minister Tarique Rahman at the Secretariat. “At this moment, with the stock we have, there should not be any major problem. We had faced similar crises before. There may be some fluctuation in energy-related matters, but overall we are well prepared. There is no need to be overly concerned,” Kobir said.The top priority of the government is Bangladeshis living in the Middle East and assisting passengers waiting at airports, he added. Kobir also said that he personally visited the airport along with the aviation minister to oversee the situation as per the directives of the Prime Minister. “We are coordinating properly so that none of our citizens face distress—whether those waiting in the country or those abroad who may be worried due to the current situation in the Middle East,” the adviser said. PM enquires about Bangladeshis in Middle East amid Iran crisis He said Bangladesh wants de-escalation of the conflict through diplomacy and urged for peaceful resolution of the crisis. The adviser also said the government is assisting outbound workers whose visas may expire due to travel disruptions and is in contact with the diplomatic community of destination countries to address such issues.