Jun 23, 12:19 AM

Asia Stocks Fall as U.S. Strikes on Iran Boost Oil Prices

Asia-Pacific equities opened sharply lower on Monday after the United States carried out airstrikes on three Iranian nuclear facilities over the weekend, heightening concerns of a broader conflict in the Middle East and disrupting risk appetite. Australia’s benchmark S&P/ASX 200 index slid about 0.6 % in the first half-hour of trade, led by declines in technology and consumer stocks, while energy and defence shares advanced. Futures pointed to softer openings for Japan’s Nikkei 225 and Hong Kong’s Hang Seng as investors repositioned for geopolitical risk. Oil prices rose for a second session, with Brent crude trading near US$78.9 a barrel and West Texas Intermediate around US$75.7, each up roughly 2.5 % from late last week. The gains followed reports that Iran’s parliament had voted to close the Strait of Hormuz, a corridor that handles roughly one-fifth of global crude shipments, stoking speculation that prices could breach US$100 if supply is disrupted. Analysts said the strikes have accelerated a flight to defensive assets, lifting gold and pressuring risk-sensitive currencies such as the Australian dollar. Market watchers expect volatility to remain elevated until there is clarity on Tehran’s response and the potential for further U.S. or regional military action.

#Asia #United States #Iranian #Middle East #Australia #Japan #Nikkei #Hong Kong #Hang Seng #Brent #West Texas Intermediate #Iran #Strait of Hormuz #Australian #Tehran

Written with ChatGPT .

Asia Stocks Fall as U.S. Strikes on Iran Boost Oil Prices

Sources

Additional media

Similar Stories