Tue, January 31, 2023

Stocks in Asia and Geopolitical Tensions

Stocks and investor sentiment

On Wednesday, stocks in the Asia Pacific retraced some losses. However, stocks are far from being in the same situation as before the attack. Iran attacked the Iraqi airbase that is used by the American troops. Iran promised to target military installations after the U.S. killed one of the most powerful Iranian general several days ago.

Iran launched more than a dozen ballistic missiles against the bases housing American troops in Iraq, Pentagon officials stated on January 7. As mentioned above, the U.S. carried out the operation to kill Iran’s top general Qasem Soleimani on Thursday. As a result, of the attack one of the most prominent figures was killed.

The information about Iran’s attack on bases remains scarce. According to the information, U.S. service members were not killed in those attacks.

U.S. President Donald Trump will make a statement on Wednesday morning.

Stocks on January 8Stocks on January 8

In Japan, the Nikkei 225 regained some of its strength, but its index declined by 1.57% to 23,204.76. Meanwhile, the Topix index also fell by 1.37% to 1,701.40. Based on the information, the Prime Minister of Japan Shinzo Abe canceled a scheduled trip to the Middle East.

Let’s have a look at South Korea’s Kospi. Its index declined by 1.11% to 2,151.31. Australia’s S&P/ASX 200 recovered from the previous losses to drop 0.13% to 6,817.60.

Chinese mainland markets also fell on Wednesday. The Shanghai composite index declined 1.22% to 3,066.89. At the same time, the Shenzhen composite declined by 1.24% to 1,769.58. Another Chinese index, which is the Shenzhen component, dropped 1.13% to 10,706.87.

The Hang Seng index declined by 0.83% to 28,087.92. It is worth mentioning that the Straits Times index fell by 0.24% as Singapore Airlines shares dropped 0.4% as the carrier had to divert flights.

Shares in India also declined as the S&P Sensex declined by 0.44%, and the Nifty 50 fell by 0.54%.

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