Global Markets Mixed Amid War Risks and Tech Gains; Gold Rises

Global markets are navigating a complex landscape, marked by a dichotomy between technological advancements and geopolitical tensions. While chip stocks have seen a surge, risks stemming from the US-Iran conflict and volatile oil prices are creating a mixed trading environment.

Diplomatic overtures from Iran, with its Foreign Ministry spokesperson suggesting readiness for negotiations based on national interests, have offered a glimmer of hope. However, these prospects are overshadowed by escalating tensions. Hardline messages from US President Donald Trump towards Iran, alleged explosions on oil tankers in the Strait of Hormuz, and the Houthi blockade of Saudi Arabia are intensifying concerns over energy supply security.

In response to rising geopolitical risks, Brent crude oil prices have fallen to $87, while the price of gold has climbed to $4,060. The yield on 10-year US Treasury bonds stands at 4.60%. Adding to the global economic uncertainty, the US has reimposed a 50% tariff on certain goods imported from Canada, reigniting trade disputes.

This volatile atmosphere has impacted stock markets. The New York Stock Exchange closed lower, while European markets exhibited mixed performance, influenced by supply concerns related to the Strait of Hormuz and political uncertainty following the resignation of British Prime Minister Keir Starmer and the potential succession by Andy Burnham.

Conversely, Asian stock markets displayed a positive trend, buoyed by strong gains in shares of TSMC and Samsung. Domestically, Turkey's BIST 100 index closed up 0.64% at 14,070.98 points. The dollar/TL is trading around 47.20. Investors are now looking towards economic confidence index data from Germany and the Eurozone. Technically, the BIST 100 index faces resistance at 14,200 and 14,300 points, with support at 14,000 points.