Asia-Pacific markets fall on renewed Middle East tensions
Asia-Pacific markets open lower amid renewed tensions between Iran and the U.S. and worries that the conflict may keep inflation elevated.
TL;DR
- Asia-Pacific markets fell, tracking overnight losses on Wall Street.
- Tensions between Iran and the U.S. are keeping oil prices elevated, stoking inflation worries.
- Kuwait International Airport was struck by Iran, following U.S. strikes on Qeshm Island.
- Israeli Prime Minister Benjamin Netanyahu stated that Israel and the U.S. are prepared to strike Iran again.
- Oil futures saw gains on Wednesday but were lower on Thursday.
- Major indices in South Korea, Japan, Australia, China, Hong Kong, and India experienced declines.
- SoftBank Group dropped over 11% after selling a stake in Lenskart Solutions.
- U.S. stock futures indicated further losses, and major U.S. indices closed lower on Wednesday.