► Oil prices rebound made a pause after surging by 4.3% on Monday, as concerns about an immediate threat to global crude flows from the Hamas-Israel conflict seems limited to most analysts. Despite Israel’s military reinforcements, the absence of direct interventions by Washington and Tehran has momentarily alleviated fears of a broader regional confrontation. However, risks remain around stricter US sanctions on Iran and potential disruptions in key shipping lanes. However, after a sharp decline, the oil price still has scope for a further increase.
► In Europe, stocks experienced a boost after the market's reaction to the Hamas-Israel conflict. The Stoxx 600 index increased by over 1%. Positive sentiment stemmed from dovish remarks by Federal Reserve officials, though concerns over the Middle East situation lingered.
► Asian markets showed varied responses, with Japan surging by over 2.4% while China ended the day negatively again falling by 0.52%. Mainland China struggled for momentum, with markets awaiting upcoming economic data to gauge the nation's outlook.
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