Asia-Pacific markets moved lower on Thursday, mirroring the pullback in major U.S. indices. The S&P\/ASX 200 in Australia declined 1.30%, while Japan\u2019s Nikkei 225 fell 1.77% after reaching a record high in the previous session. The broader Topix index in Japan slipped 1.33%.<\/p>\n
In South Korea, the Kospi fell 1.24% as trading resumed after a holiday, but the small-cap Kosdaq rose 2.61%. Mainland China\u2019s CSI 300 declined 0.58%, and Hong Kong\u2019s Hang Seng Index lost 1.49%. India\u2019s Nifty 50 edged 0.30% lower, and the BSE Sensex was down 0.33%.<\/p>\n
Additional market levels reported included the S&P\/ASX 200 at 8,686.10 (-1.13%), the Hang Seng Index at 25,232.28 (-1.56%), the KOSPI Index at 8,653.80 (-1.68%), the Nikkei 225 at 67,294.14 (-1.62%), the NIFTY 50 at 23,449.25 (+0.19%), and Shanghai at 4,060.831 (-0.57%).<\/p>\n
SoftBank Group shares dropped more than 11.04% after news that it had sold a 3.25% stake in Indian eyewear company Lenskart Solutions via a block deal.<\/p>\n
Market moves came as tensions between Iran and the United States kept crude prices elevated and raised concerns over energy costs and inflation. West Texas Intermediate futures gained more than 2% on Wednesday to close at $96.02 per barrel, while international benchmark Brent crude rose nearly 2% to settle at $97.81. Both benchmarks were about 1% lower on Thursday.<\/p>\n
The Kuwait International Airport was struck by Iran early Wednesday, shortly after the U.S. Central Command reported that it had defeated multiple Iranian ballistic missiles and drones and launched \u201cself-defense strikes\u201d on Qeshm Island in the Persian Gulf. U.S. forces said these actions were in response to \u201cattempted attacks\u201d by Tehran.<\/p>\n
Israeli Prime Minister Benjamin Netanyahu told CNBC that Israel and the United States are prepared to strike Iran again if necessary, stating that \u201cIsrael is ready and the U.S. forces are ready.\u201d<\/p>\n
U.S. equity futures pointed to further weakness, with S&P 500 futures down 0.5% and Nasdaq 100 futures lower by 0.6%, while Dow Jones Industrial Average futures traded marginally higher.<\/p>\n
On Wednesday, the Dow Jones Industrial Average fell 620.72 points, or 1.21%, to 50,687.07. The S&P 500 declined 0.74% to 7,553.68, and the Nasdaq Composite lost 0.89% to close at 26,853.98.<\/p>\n
Why did Asia-Pacific markets fall on Thursday?<\/strong> How did oil prices move amid the tensions?<\/strong> Which major Asia-Pacific indexes were most affected?<\/strong>
Asia-Pacific markets declined as they tracked overnight losses on Wall Street and as elevated oil prices, driven by geopolitical tensions between Iran and the United States, raised concerns over energy costs and inflation.<\/p>\n
West Texas Intermediate futures rose more than 2% on Wednesday to close at $96.02, and Brent crude advanced nearly 2% to $97.81 per barrel, before both benchmarks traded about 1% lower on Thursday.<\/p>\n
Japan\u2019s Nikkei 225 fell 1.77%, South Korea\u2019s Kospi dropped 1.24%, Australia\u2019s S&P\/ASX 200 was 1.30% lower, Hong Kong\u2019s Hang Seng Index declined 1.49%, and China\u2019s CSI 300 slipped 0.58%.<\/p>\n