On Tuesday (18 August, 9:14 AM, GMT+7, Bangkok time), major indices across the Asia-Pacific region traded mostly lower as market participants digested escalating geopolitical tensions in the Middle East and rising energy prices.
Crude oil supply risks moved back to the forefront after peace negotiations between the U.S. and Iran showed signs of stalling, injecting fresh inflation and cost pressures into regional equity markets. The surge in energy benchmarks weighed on major importing economies, offsetting broader economic stabilization efforts and dragging technology and growth shares down across Asian bourses.
Japan’s NIKKEI dropped by 1.14% to 68,427.80. India’s NIFTY 50 remained unchanged at 24,287.65, while Australia’s ASX 200 gained 0.09% to 9,081.60.
As for stocks in Greater China, Shanghai’s SSEC fell by 0.12% to 3,977.922, and Hong Kong’s HSI lost 0.61% to 25,298.99. Meanwhile, Korea’s Kospi rose more than 3% in the early session.
U.S. stock markets closed lower in the prior session, with the Dow Jones Industrial Average dropping 0.51% to 53,459.78 The S&P 500 slipped 0.52% to 7,745.06, while the NASDAQ Composite declined 0.32% to 26,644.91 amid an ongoing rotation out of mega-cap technology and growth names into defensive value sectors.
As for commodities, oil prices surged as fading peace hopes between the U.S. and Iran heightened supply concern across major trade corridors. Brent crude traded higher at $91.28 per barrel, up by 41 cents or 0.45%. U.S. West Texas Intermediate crude rose 57 cents, or 0.67%, to $85.07 per barrel.
Meanwhile, spot gold fell by 0.32% or $14.40 to $4,459.30 per Troy ounce, while silver dropped 0.88% to $65.65 per Troy ounce.
