Asian shares mixed after US leaves Iran deal

Published: May 09, 2018 10:58:19 | Updated: May 11, 2018 12:23:04


File Photo (Collected)

Asian stock markets traded mixed Wednesday after US President Donald Trump said the United States will withdraw from a 2015 nuclear accord with Iran and re-impose sanctions while oil prices surged.

Japan's Nikkei 225 dropped 0.4 per cent to 22,412.96 and South Korea's Kospi retreated 0.1 per cent to 2,447.02. Hong Kong's Hang Seng index added 0.5 per cent to 30,552.57.

However, the Shanghai Composite Index dipped 0.1 per cent to 3,159.22 while Australia's S&P/ASX 200 was unchanged at 6,092.60.

Stocks rose in Taiwan and Thailand but fell in Singapore and Indonesia, they were lower, reports AP.

Prices of oil fell sharply before Trump's announcement but rebounded, with benchmark US crude oil jumping $1.58 to $70.64 per barrel in electronic trading on the New York Mercantile Exchange.

The contract fell $1.67, or 2.4 per cent, to $69.06 per barrel on Tuesday.

Brent crude, which is used to price international oils, gained $1.85 to $76.70 per barrel in London. It lost $1.32, or 1.7 per cent, to close at $74.85 per barrel on Tuesday.

US stocks finished flat on Tuesday. The S&P 500 index dipped 0.03 per cent to 2,671.92. The Dow Jones industrial average gained 0.01 per cent to 24,360.21. The Nasdaq was flat at 7,266.90.

The dollar rose to 109.47 yen from 109.13 yen while the euro fell to $1.1857 from $1.1864.

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