Asian markets gain traction as crude prices climb past US$90

Asian equity markets showed renewed strength on the back of rising crude oil prices, with Brent crude advancing to US$96.45 a barrel and West Texas Intermediate climbing to US$91.85. The momentum reflected a strong weekly performance, with Brent gaining nearly 10% over the preceding five trading days.

The energy sector's strength provided a boost to regional bourses, particularly benefiting economies with significant oil and gas exposure. Malaysian markets, alongside other Southeast Asian exchanges, tracked the positive momentum as investors reassessed valuations in light of higher commodity prices.

However, market participants remained cautious about the sustainability of the oil price rally. Analysts noted that while the near-term uplift supported sentiment, concerns persisted regarding global economic growth trajectories and demand sustainability. The divergence between bullish technical momentum and underlying macroeconomic uncertainties kept some investors hedging their positions.

Energy stocks dominated gainers across regional indices, while other sectors reflected mixed sentiment. Investors monitored geopolitical developments and supply chain dynamics that could further influence crude trajectories in coming sessions. The performance underscored the continued sensitivity of Asian markets to commodity price fluctuations.