Asian Shares Mixed and Oil Prices Rise Following US Strike on Iranian Rocket Launchers
Shares in Asia were mixed, while oil prices surged nearly 3% following a U.S. military strike against Iranian rocket launchers near the Strait of Hormuz. The attack marked the first direct action by U.S. forces in the region since June and raised concerns over renewed tensions that could disrupt global energy supplies. U.S. stock futures declined slightly as investors anticipated potential interest rate hikes from the Federal Reserve to combat inflation, following a speech by Fed Chairman Kevin Warsh at an economic symposium in Jackson Hole, Wyoming. Asian markets like Japan's Nikkei 225 and Australia's S&P/ASX 200 edged lower, while South Korea’s Kospi rose slightly. Meanwhile, Chinese factory activity remained contractionary for the second consecutive month, though there were minor improvements in export orders and production.
Topics: asian_stocks fed_interest_rates oil_prices