Amazon founder offloads $4.07 billion in stock amid geopolitical risks and mixed Asia-Pacific market signals.
Amazon Chair Jeff Bezos sold $4.07 billion worth of AMZN shares, marking one of his largest disposals in recent years. The move coincides with heightened geopolitical tensions in the Hormuz Strait, where Iran-related incidents have pressured oil markets and regional equities.
Asia-Pacific markets showed mixed reactions, with Japan’s Nikkei dipping on yen intervention concerns while South Korea’s Kosdaq surged. Brent and WTI crude recovered modestly after a 7% plunge, though ongoing Hormuz disruptions kept prices volatile. South Korea’s core inflation hit a 2-1/2 year high, complicating policy responses.
UBS noted earnings resilience and a gradual Hormuz recovery could support equities, though risks remain elevated. The PBOC set the USD/CNY reference rate at 6.7917, weaker than expected, as the dollar strengthened on rate differentials.