Asian Markets Mixed As US Strikes Iran; Brent Crude Rises 2%, KOSPI Hits Record 8,131
Asian markets traded cautiously amid fresh US strikes on Iran, even as a ceasefire remains in place. Brent crude rose 2 percent but stayed below 100 dollars per barrel. While most regional indices were flat to lower, South Korea’s KOSPI surged to a record 8,131.15, powered by gains in Samsung Electronics (3 percent) and SK Hynix (6 percent). Japan’s Nikkei eased after Monday’s record high.
Asian markets traded cautiously amid fresh US strikes on Iran, even as a ceasefire remains in place. |
Mumbai: Asian markets were mixed Tuesday as market participants displayed some caution in light of fresh strikes by the US against Iran even as the ceasefire is in place. Brent crude oil futures remainded below $100 per barrel but climbed 2%. The US said the strikes were conducted in self-defense. Barring South Korea's KOPSI, all other indices in the region were flat or in the red.
The attacks against Iran were "to protect our troops from threats posed by Iranian forces," the US Central Command said, according to a BBC report. "The US Central Command "continues to defend our forces while using restraint during the ongoing ceasefire," Central Command spokesperson Captain Tim Hawkins was quoted as saying. The South Korean market reopened Tuesday after a holiday Monday and the bechmark KOSPI notched a fresh record high of 8131.15 points.
Shares of heavyweight Samsung Electronics were up 3% and those of SK Hynix gained 6%. The country's broader market KOSDAQ was up almost 2%. Meanwhile, Japan's Nikkei 225 was under pressure after touching a record high Monday.
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