Asian Stocks Rise on AI and Trade Talks, Oil Falls as Supply Worries Ease

Asian stocks and U.S. futures rose Sept. 21 as AI chip demand and optimism over Trump-Xi talks lifted tech shares, while oil fell for a fourth session. CBA commodities head Vivek Dhar said the East-West pipeline closure has materially altered the oil market and now estimates 5 to 10 weeks before global inventories deplete, down from 15 to 20 weeks a fortnight ago. Other reports described Saudi supply concerns easing on plans to restart pipeline flows after Houthi damage, even as a Houthi attack hit Riyadh. U.S. 2-year yields jumped 36 basis points in two weeks to 4.7604% after hawkish Fed guidance, with futures pricing a 56% October hike odds; BofA retained calls for hikes in October and December because consumer spending up 6.3% leaves little choice but to restrain demand. Trump said he would probably be open to meeting Iran's Masoud Pezeshkian at the UN General Assembly. Outlets disagreed on exact index moves and on whether oil's drop signaled easing supply worries or a tighter inventory runway. Thursday's Trump-Xi meeting is next.