Japan Nikkei Dips as Tech Weighs, Oil Slides from Six-Month High

Japan's Nikkei 225 index slid 0.43% as chip-related shares fell, despite broader market gains. Oil prices, after initially boosting energy shares, later slid from a six-month high following reports of Qatari mediation efforts in Tehran aimed at de-escalation in the Middle East. This potential easing of geopolitical tensions could reduce crude supply concerns. Lower oil prices typically ease global inflationary pressures, which could influence central bank monetary policy outlooks and potentially temper safe-haven demand for gold, while also positively impacting Pakistan's import bill and the PKR.

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