Asian Stocks Retreat as Oil Prices Cross $100 Amid Global Market Uncertainty
Asian stock markets declined on Thursday after an early surge that briefly pushed Japan’s benchmark index above the 60,000 level for the first time. Meanwhile, global oil prices climbed above $100 per barrel amid concerns over geopolitical tensions and uncertain peace prospects in the Middle East.
Mixed Performance in Asian Markets
Markets across the region showed volatile trading. In Japan, the Nikkei 225 fell 0.8% to 59,140.23 after reaching an intraday record high above 60,000.
South Korea’s KOSPI closed 0.9% higher at 6,475.81, briefly crossing the 6,500 mark. Gains were supported by stronger-than-expected economic growth of 1.7% for the first quarter, driven largely by exports of semiconductors used in artificial intelligence technologies.
In Hong Kong, the Hang Seng Index dropped 1%, while China’s Shanghai Composite fell 0.3%.
Other regional markets also weakened, including Australia’s S&P/ASX 200, which declined 0.6%, Taiwan’s Taiex, and India’s Sensex, which fell around 1%.
Oil Prices Surge Above $100
Global oil prices rose above $100 per barrel as investors reacted to ongoing uncertainty surrounding the conflict involving Iran and stalled diplomatic efforts.
Concerns over supply stability and geopolitical risk have continued to influence energy markets, contributing to increased volatility.
Global Market Sentiment
Despite recent record highs on Wall Street, Asian markets pulled back as investors weighed strong corporate earnings against global risks.
U.S. futures also edged lower after earlier gains in American stock indexes.
Analysts say market sentiment remains fragile due to uncertainty over peace talks and the broader economic impact of ongoing global tensions.
