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Asian stocks edge lower as Middle East tensions lift crude risk
South Korea's KOSPI fell more than 3% in early trading, while crude oil prices and Middle East tensions were cited as key drivers of softer regional risk appetite.
Asian markets started the week on a cautious note as investors weighed persistent Middle East tensions and higher crude oil prices, which have tempered risk appetite, according to LiveMint Markets.
In early trading Monday, Japan's Nikkei 225 was around flat, while South Korea's KOSPI dropped more than 3% and Hong Kong's Hang Seng fell more than 2%. LiveMint Markets also pointed to Iran's warning of retaliation against countries involved in the US “economic war,” adding to concerns that the confrontation could deepen.
The backdrop also included recent US trading: US stocks rose on Friday, with the S&P 500 and Nasdaq Composite gaining 0.4% and the Dow Jones Industrial Average up 1.0%, even as major indexes still finished the week lower after bond-market volatility pressured riskier assets.
Looking ahead, LiveMint Markets highlighted focus on a pivotal week for markets, including Nvidia's earnings and the Fed's Jackson Hole symposium, both seen as tests for the AI trade and the interest-rate outlook.
Latest closeWTI crude $82.40 ▲1.4%|S&P 500 7,785.76 ▼0.2%|Nasdaq Comp. 26,729.16 ▼0.3%