Asian Stocks Rise, Oil Jumps as Trump Orders Blockade on Venezuela Tankers

Asian equities advanced on Wednesday, supported by strong buying in technology shares, while oil prices surged more than 1% following an escalation of U.S. sanctions pressure on Venezuela.

President Donald Trump ordered a blockade of all "sanctioned oil tankers" headed to Venezuela, building on last week's seizure of an oil tanker off the country’s coast by U.S. forces. The move intensifies pressure on the government of Nicolás Maduro and contributed to a rebound in crude prices after recent declines.

Regional Market Performance
Japan’s Nikkei 225 gained 0.3% to 49,512.28 as traders awaited a Bank of Japan policy decision later in the week. Data showed Japan's exports rose 6% in November from a year earlier, with shipments to the U.S. increasing for the first time since March, helped by a trade agreement that set tariffs at a baseline 15% rather than an initially proposed 25%.

Hong Kong’s Hang Seng climbed 0.7%, and the Shanghai Composite jumped 1.2%. South Korea’s Kospi rose 1.4%, lifted by gains in chipmakers SK Hynix and Samsung Electronics. Australia’s S&P/ASX 200 dipped 0.2%.

U.S. stock futures edged higher in early trading.

U.S. Economic Backdrop
On Tuesday, U.S. stocks ended mixed after economic data offered conflicting signals. While the unemployment rate rose to its highest level since 2021, job additions exceeded expectations, and retail sales growth also beat forecasts. The S&P 500 slipped 0.2%, remaining below its recent record high.

The data did little to alter expectations that the Federal Reserve may continue to cut interest rates in 2026. Attention now turns to Thursday's inflation report, which is expected to show consumer prices remain elevated.

A separate S&P Global survey indicated business selling prices are rising at one of the fastest paces since mid-2022, even as overall activity growth slowed to its weakest level since June.

Commodities and Sector Moves
Oil prices rebounded sharply on the Venezuela news. U.S. crude rose 1.6% to $56.13 a barrel, while Brent crude gained 1.4% to $59.76. Energy stocks had been under pressure recently amid concerns over a global supply surplus.

Artificial intelligence-related stocks were mixed. Oracle rose 2% and Broadcom added 0.4%, recovering partially from last week’s declines despite reporting strong quarterly earnings. CoreWeave, which leases high-end AI chips, fell 3.9%, reflecting ongoing investor caution over the profitability of heavy AI infrastructure spending.

In currency markets, the U.S. dollar strengthened against the Japanese yen, while the euro edged lower.