Nikkei, Kospi, csi 300, hang seng, trump, iran
A man wearing a protective face mask is reflected on a stock quotation board at a brokerage, amid the coronavirus disease (COVID-19) outbreak, in Tokyo, Japan November 6, 2020.
Issei Kato | Reuters
Asia-Pacific markets opened lower Wednesday, as investors digest a hotter-than-expected inflation reading for April amid concerns over higher oil prices and the ongoing Middle East conflict.
President Donald Trump on Monday said the month-old ceasefire between the U.S. and Iran “unbelievably weak” and “on massive life support” after rejecting an “unacceptable” counterproposal from Tehran to end the conflict.
Defense Secretary Pete Hegseth said Trump doesn’t need congressional approval to restart strikes on Iran. The comment comes after the administration passed the 60-day mark required by federal war powers law to receive authorization for military force.
Meanwhile, investors will also be focusing on developments related to the upcoming meeting between Trump and Chinese President Xi Jinping, where trade is expected to be discussed.
The West Texas Intermediate futures for June was 0.51% lower at $101.66 per barrel as of 8:06 p.m. ET. Brent crude futures for July fell 0.57% at $107.16 per barrel.
South Korea’s Kospi was lower at 2.15% while the small-cap Kosdaq dropped 0.74%.
Japan’s Nikkei 225 fell 0.52%, while the Topix added 0.28%. Australia’s ASX slipped 0.56%.
Hong Kong Hang Seng index futures were at 26,264, lower than the index’s last close of 26,347.91.
<
