Asian stock markets closed mixed! KOSPI jumped 1.4% while the Nikkei and Hang Seng fell. Watch for oil prices to break $100.
Asian stock markets closed mixed today (September 9, 2569), with South Korea rising 1.40% and China slightly higher. Japanese and Hong Kong markets fell. Investors remain focused on the ongoing conflict between the United States and Iran after Brent crude oil prices surged above $100 per barrel for the first time since July, raising concerns about inflationary pressures.
Japanese stock market
The Nikkei index edged lower after oil prices continued to rise amid tensions between the US and Iran. Higher oil prices raised concerns about inflation prospects, while the yield on 10-year US Treasury bonds climbed above 4.8% the previous day, putting pressure on the stock market.
- The Nikkei index closed at 65,142.78 points, down 126.55 points or -0.19%.
Chinese stock market
The Shanghai Composite Index closed slightly higher, contrary to Japanese and Hong Kong stocks, as markets continued to monitor oil prices and conflicts in the Middle East, factors that could add inflationary pressure and affect global financial markets.
- The Shanghai Composite Index closed at 3,951.51 points, up 10.96 points or +0.28%.
Hong Kong Stock Market
The Hang Seng Index edged lower as investors assessed the risk of oil prices soaring above $100 per barrel amid tensions between the US and Iran, fueling concerns about energy supply disruptions and inflationary pressures.
- The Hang Seng Index closed at 25,274.96 points, down 42.22 points or -0.17%.
South Korean stock market
The KOSPI index surged 1.40%, as South Korean stocks rose against the trend of some Asian markets. Investors are also monitoring global stock markets and the oil price situation after Brent crude surged above $100 per barrel amid tensions in the Middle East.
- The South Korean stock market composite index closed at 7,051.64 points, up 97.12 points or +1.40%.
Reference: www.cnbc.com
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