Middle East Tensions Rattle Asian Markets Amid U.S. Appeals
Mainland China and Hong Kong stocks dipped as Middle East tensions escalated, influenced by U.S. President Trump's call for Iranians to evacuate Tehran. Stock indices saw declines due to global risk-off sentiment. Oil and gas shares outperformed as traders turned to safe havens amid geopolitical uncertainties.
Stocks in Mainland China and Hong Kong took a hit on Tuesday as increasing tensions in the Middle East affected market sentiment. U.S. President Donald Trump urged Iranians to evacuate Tehran, escalating fears in the region.
As Israel and Iran clashed for the fifth consecutive day, Trump left the G7 summit early, prompting global financial markets to adopt a risk-off approach. Analysts emphasized the continuing uncertainty and potential risk of further escalation in the Middle East.
The Shanghai Composite index and other Chinese indices closed lower, with a notable drag in Shenzhen and ChiNext Composite indices. Meanwhile, oil and gas shares gained due to rising crude prices, outperforming other sectors. The spotlight is on the Lujiazui Forum, set to discuss financial and yuan internationalization policies this week.
(With inputs from agencies.)
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