The Asia-Pacific markets opened lower on Thursday, reflecting losses on Wall Street due to escalating tensions between Iran and the U.S. Following an Iranian strike on Kuwait International Airport, the U.S. Central Command reported successful interceptions of Iranian missiles and drones, leading to retaliatory strikes.
Israeli Prime Minister Benjamin Netanyahu indicated that both Israel and the U.S. are prepared for further military action against Iran, which adds to market uncertainty. As a result, oil prices surged, with West Texas Intermediate futures closing at $96.02 and Brent crude at $97.81 per barrel.
In the region, South Korea's Kospi dropped 2%, while Japan's Nikkei 225 fell 1.4% after reaching a record high previously. Australia's S&P/ASX 200 declined by 0.84%, and futures for major U.S. indices also pointed to a lower opening. The Dow Jones Industrial Average fell 620.72 points, or 1.21%, while the S&P 500 and Nasdaq Composite also experienced declines.
These developments highlight the ongoing impact of geopolitical tensions on market performance and investor sentiment