FTSE 100 edges up as tech rebound lifts Asian markets

London’s blue-chip index edged higher this morning, driven by a recovery in technology shares following a significant sell-off earlier in the week. The broader market sentiment improved as investors regained confidence in the sector after recent volatility.

Asian equity markets also reversed course overnight, undoing losses from a heavy selling session. South Korea’s Kospi index climbed 2.8 per cent, a sharp rebound after a near eight per cent plunge the previous day. This recovery followed a period where investors reduced exposure to technology stocks amid concerns regarding the debt levels of cloud company Corewave and the broader implications for artificial intelligence financing.

In energy markets, Brent crude traded above $105 per barrel on Friday morning, positioning the benchmark for a weekly gain. This rise reflects mounting supply concerns in the Middle East and broader anxiety over shipping safety. Tensions escalated after the US Central Command confirmed that a Singapore-flagged container ship was sunk by an Iranian projectile in the region.