On Tuesday (23 June, 9:18 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific exhibited a downward sentiment, echoing a tech-driven retreat on Wall Street as market participants closely observed ongoing U.S.-Iran negotiations.
Brent crude hovered near $78 per barrel, steady after dropping on Monday, following the United States’ decision to grant Iran a 60-day authorization to sell oil internationally. This extension gives Iran temporary economic relief while diplomatic efforts continue toward a comprehensive peace agreement.
According to U.S. Vice President JD Vance, progress in the discussions between Washington and Tehran has been significant, despite intermittent strains in the dialogue.
Market volatility is expected to persist due to geopolitical factors, while sentiment around the sustainability of gains in AI-linked stocks may also contribute to sudden fluctuations, UBS Chief Investment Office’s Ulrike Hoffmann-Burchardi noted.
Japan’s NIKKEI dropped by 1.09% to 71,566.97. South Korea’s KOSPI slumped by 3.93% to 8,756.33, while Australia’s ASX 200 climbed by 0.01% to 8,817.40.
As for stocks in China, Shenzhen’s SZI plummeted by 1.11% to 16,190.30. Hong Kong’s HSI fell by 0.26% to 23,707.64, while Shanghai’s SSEC rose by 0.17% to 4,170.38.
The U.S. stock markets were mixed on Monday as NASDAQ lost 1.33% to 26,166.60. S&P 500 slid by 0.37% to 7,472.79, while the Dow Jones Industrial Average (DJIA) gained 0.29% to 51,712.71. VIX jumped by 2.98% to 17.28.
As for commodities, oil prices settled lower on Monday, prompted by an easing of supply fears following comments from U.S. Vice President JD Vance, who indicated ongoing progress in negotiations with Iran and confirmed that the Strait of Hormuz was open. Brent crude posted a loss of $2.67, slipping 3.31% to finish at $77.90 per barrel. The expired U.S. West Texas Intermediate (WTI) contract for July fell by $1.78 or 2.32% to end the session at $74.82 per barrel, while the more actively traded August contract dropped $1.99 to settle at $73.86 per barrel.
This morning, Brent futures grew 2 cents, or 0.03%, to $77.92 per barrel, and the WTI futures added 15 cents, or 0.20%, to $74.01 per barrel.
Meanwhile, gold futures contracted by 0.78% to $4,169.80 per Troy ounce.
