Uncertainty over the reopening of the Strait of Hormuz lingered. Iran expressed dissatisfaction with Israel’s continued attacks on Lebanon and accused the US and Israel of violating the ceasefire agreement, leading to a renewed closure of the strait. Futures for the three major US stock indices last dropped by 0.4-0.5%, while international oil prices rebounded by more than 3%. After surging sharply in the previous session, major Asia-Pacific markets broadly softened today (9th).China’s Shanghai and Shenzhen markets were weak. The Shanghai Composite Index and Shenzhen Component Index closed down 0.72% and 0.33% at 3,966 and 13,996, respectively. Hong Kong bourse gave back 140 points, or 0.5%, to close at 25,752, with turnover shrinking by more than 34% from the previous day to HKD244.977 billion. Taiwan’s market added 99 points, or 0.3%, to 34,861. TSMC gained 0.3%, while Hon Hai lost 0.7%.The Nikkei ended down 413 points, or 0.7%, at 55,895. South Korea’s market faded 94 points, or 1.6%, underperforming the region, to 5,778.
AASTOCKS Financial News