InvestingLive Asia-Pacific market news: Asia shrugs off Nvidia scandal, oil steadies

In today's oil prices news, Nvidia's board has opened an independent probe.Oil: Crude dropped on Trump's "highly unlikely" strikes comments, then bounced back to flat after Rubio noted Iran negotiations are not productive.Strikes on Iraq's Khor Mor gas field and Riyadh's Aramco Tower, plus Task Force Iron Gate, keep escalation risk alive. While near-term earnings stay cushioned by long-term supply pacts and customer prepayments, JPMorgan has argued the market is already pricing a memory downcycle as early as the first half of 2027.

Key points

• South Korea's Kospi advanced about 1.4% and the Kosdaq close to 2%.
• Increases in China and Hong Kong were more modest, with the Shanghai Composite up around 0.5% and the Hang Seng edging higher.
• SK Hynix surged about 4.6% and Samsung Electronics added roughly 2.4%.
• According to Bloomberg, a Goldman Sachs basket of AI memory equities has fallen 51% from its June peak.
• Nvidia's board has opened an independent investigation, saying it has no reason to believe national security or business secrets were compromised.

Oil prices: the details

South Korea's Kospi advanced about 1.4% and the Kosdaq close to 2%. Increases in China and Hong Kong were more modest, with the Shanghai Composite up around 0.5% and the Hang Seng edging higher. SK Hynix surged about 4.6% and Samsung Electronics added roughly 2.4%, a sharp bounce for a group that has borne the brunt of the latest AI selloff.

According to Bloomberg, a Goldman Sachs basket of AI memory equities has fallen 51% from its June peak, its deepest drawdown since ChatGPT launched. Nvidia's board has opened an independent investigation, saying it has no reason to believe national security or business secrets were compromised, and Huang stays chief executive.

Why oil prices matters for traders

Oil prices affect inflation, company costs and the currencies of major producers and importers. Moves in crude often spill over into the Canadian dollar, Norwegian krone and energy stocks.

Supply decisions, inventory data and geopolitical risks can move crude quickly, and higher energy prices can complicate the job of central banks fighting inflation.

Market reaction and data

Crypto prices at the time of writing, from Binance spot data (2026-11-09 05:10 UTC):

On the currency side, the latest ECB daily reference rates (2026-11-06) show EUR/USD 1.1165, GBP/USD 1.3385, AUD/USD 0.6871, NZD/USD 0.5544, USD/JPY 158.33, USD/CHF 0.8189, USD/CAD 1.4066, USD/CNY 6.6713. These are reference fixes, not live quotes.

What to watch next for oil prices

Watch for OPEC+ supply decisions, weekly inventory reports, demand signals from major economies and any geopolitical developments in producing regions.

Key scheduled releases on the economic calendar:

• USD Core CPI m/m on Tue Nov 10, 13:30 UTC, forecast 0.2%, previous 0.3%
• USD CPI m/m on Tue Nov 10, 13:30 UTC, forecast 0.3%, previous 0.6%
• GBP GDP m/m on Thu Nov 12, 07:00 UTC, forecast 0.0%, previous 0.1%
• USD Core PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.3%, previous 0.7%
• USD PPI m/m on Fri Nov 13, 13:30 UTC, forecast 0.4%, previous 1.3%

Follow every update in our Top 10 Forex News Today, read Qatar states US-Iran discussions alive as Trump meets Qatari PM, oil swings on mixed signals or see all of today's top market news.

FAQ

What is the latest oil prices news?

Nvidia's board has opened an independent probe.Oil: Crude dropped on Trump's "highly unlikely" strikes comments, then bounced back to flat after Rubio noted Iran negotiations are not productive.Strikes on Iraq's Khor Mor gas field and Riyadh's Aramco Tower, plus Task…

What drives oil prices?

Crude prices depend on supply from OPEC+ and other producers, global demand, inventory levels and geopolitical risk in key producing regions.

Where does this information come from?

This report is based on coverage from investingLive, checked against market data where available. It is a summary for information only and not investment advice.