Asian shares – Asian markets moved in different directions Tuesday as uncertainty over the Iran war roiled global trading, with South Korea’s Kospi sliding more than 4% early and U.S. crude falling while Treasury yields edged higher.
Asian shares traded with jitters Tuesday, with investors weighing what happens next in the Iran war—and watching oil prices swing as the Strait of Hormuz’s disruption threat lingers.
In Tokyo, Japan’s benchmark Nikkei 225 fell 0.6% in morning trading to 60,433.79, wiping out early gains. The setback came after Japan’s government reported the economy grew for a second straight quarter in January-March, mainly due to better than expected consumer spending.
Across the region, the mood turned sharper in Seoul. South Korea’s Kospi sank more than 4% early and was down 3.5% at 7,249.73 by midday. Samsung Electronics slipped 3.8%, while SK Hynix fell 4% as losses in tech shares tracked overnight declines on Wall Street.
Not all markets fell. Australia’s S&P/ASX 200 climbed 0.9% to 8,582.80. Hong Kong’s Hang Seng rose 0.5% to 25,811.28, while the Shanghai Composite fell 0.3% to 4,121.11.
The stress was visible in the energy market. Benchmark U.S. crude lost $1.36 to $103.02 a barrel, while Brent crude dipped $1.99 to $110.11 a barrel. Oil prices have been moving sharply because investors are uncertain about how long the Iran war will keep the Strait of Hormuz effectively closed. limiting oil tankers from delivering crude. Japan, which imports almost all its oil, ships much of it through that strait.
The contrast in oil pricing also connects to recent headlines from Washington. Brent crude had been trading at about $70 a barrel before the war. It fell after President Donald Trump said in a social media post that he was holding off on a military strike on Iran planned for Tuesday because “serious negotiations” are underway to end the war.
Bond markets reflected the mix of risk and caution. In the bond market, the yield on the 10-year Treasury rose as high as 4.63% before falling back to 4.59%, where it was late Friday.
Stocks tied to oil and big-ticket corporate moves were also in focus. Delta Air Lines finished essentially flat after swinging up and down through the day because of oil prices. The airline received an early boost after news that Berkshire Hathaway had bought more than $2.6 billion of the airline’s stock. Berkshire Hathaway is known as a value investor that has built a reputation for buying stocks at low prices under its former leader. Warren Buffett.
For investors looking further ahead, attention is turning to upcoming earnings. Nvidia’s latest quarterly results are due Wednesday. The chipmaker has routinely blown past analysts’ expectations each quarter while forecasting more growth. Target, Home Depot and Walmart also report results this week.
Currency trading added to the shifting signals. The U.S. dollar rose to 158.96 Japanese yen from 158.84 yen. The euro cost $1.1643, down from $1.1657.
In the United States, trading closed on a mixed note Monday. The S&P 500 swiveled between gains and losses before finishing with a dip of 0.1% at 7. 403.05. its second loss since setting an all-time high last week. The Dow Jones Industrial Average added 0.3% to 49,686.12, and the Nasdaq composite fell 0.5% to 26,090.73.
With the Strait of Hormuz disruption still shaping expectations for oil deliveries, Tuesday’s market swings have stayed tightly tethered to what happens next in Washington and Tehran—right down to the price of crude and the direction of tech-heavy indexes.
Asian shares Kospi Nikkei Iran war Strait of Hormuz oil prices U.S. crude Brent crude 10-year Treasury yield Delta Air Lines Berkshire Hathaway Nvidia earnings