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Jan. 7, 2020, 11:21 p.m. EST

Asian markets pull back after Iranian missile attack

Nikkei drops sharply as traders await next move in Middle East

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By MarketWatch and Associated Press


AFP/Getty Images
A pedestrian in Tokyo walks past a stock indicator displaying share prices of the Tokyo Stock Exchange on Wednesday.

Asian markets fell in early trading Wednesday as Middle East tensions flared again after Iran fired more than a dozen missiles at two bases in Iraq that house U.S. troops.

U.S. officials said there were no immediate reports of casualties, and Iran’s foreign minister tweeted “We do not seek escalation or war,” leading some experts to speculate that the attack was a measured response to last week’s killing of a top Iranian general by a U.S. airstrike.

President Donald Trump issued a measured response, tweeting “All is well” and promising a statement Wednesday morning.

The attack sent crude oil futures and gold futures briefly soaring, though those gains were pared as overnight electronic trading continued. U.S. stock futures /zigman2/quotes/210407078/delayed YM00 +0.87%   similarly plunged immediately after the attack, but largely recovered.

Stephen Innes, chief Asia market strategist for AxiTrader, said Trump’s response was, for now at least, “calming nerves, and risk assets are making a comeback as the market is taking some comfort in the lack of immediate U.S. military follow-through.”

Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +2.96%   fell 2% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI -0.83%   slipped 0.8%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP -0.55%   declined 0.6% while the smaller-cap Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 -1.30%   inched down 0.1%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +2.58%   dropped 0.8%, and benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +2.08%  , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.75%  , Malaysia /zigman2/quotes/210598052/delayed MY:FBMKLCI +0.69%   and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.90%   were mixed. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +3.75%   declined 0.3%.

Among individual stocks, oil producer Inpex /zigman2/quotes/206689846/delayed JP:1605 +5.36%   rose in Tokyo trading, while SoftBank /zigman2/quotes/207303954/delayed JP:9984 +5.10%  , Honda /zigman2/quotes/200490352/delayed JP:7267 +2.15% and Fast Retailing /zigman2/quotes/200663563/delayed JP:9983 +2.02%   fell. In Hong Kong, oil company CNOOC /zigman2/quotes/203421416/delayed HK:883 +0.74%   slipped, as did Bank of China /zigman2/quotes/204682472/delayed HK:3988 -0.78%   and Alibaba /zigman2/quotes/215112034/delayed HK:9988 -0.38%  . Samsung /zigman2/quotes/209800866/delayed KR:005930 +4.14%   rallied in South Korea despite a warning that fourth-quarter operating profit will likely take a big hit. Beach Energy /zigman2/quotes/200513631/delayed AU:BPT +4.01%   and Oil Search   gained in Australia.

Financial markets have been on edge about the possibility of U.S.-Iranian conflict and disruption of oil supplies since last week’s killing of Gen. Qassem Soleimani by a U.S. drone in Baghdad.

Brent crude   was up $1.02 at $69.29. At the start of Wednesday’s trading, it spiked $3.48 to $71.75 before retreating. Benchmark U.S. crude   was up 82 cents to $63.51 per barrel in electronic trading on the New York Mercantile Exchange. It earlier jumped $2.95 to $65.65 before settling back.

Before the latest attack, the rush by investors into safe assets had been abating.

Gold’s   momentum eased Tuesday after touching its highest price in nearly seven years.

On Wall Street, the benchmark S&P 500 index /zigman2/quotes/210599714/realtime SPX +2.59%   lost 0.3% to 3,237.18 in trading that closed before the Iranian attack. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +2.66%   lost 0.4% to 28,583.68. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +2.27%   slipped less than 0.1% to 9,068.58.

/zigman2/quotes/210407078/delayed
US : U.S.: CBOT
$ 29,796.00
+258.00 +0.87%
Volume: 15,089
Oct. 4, 2022 1:30a
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/zigman2/quotes/210597971/delayed
JP : Nikkei
26,992.21
+776.42 +2.96%
Volume: 0.00
Oct. 4, 2022 3:15p
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
17,079.51
-143.32 -0.83%
Volume: 1.36M
Oct. 3, 2022 4:08p
loading...
/zigman2/quotes/210598127/delayed
CN : China: Shanghai
3,024.39
-16.81 -0.55%
Volume: 20.41B
Sept. 30, 2022 3:00p
loading...
/zigman2/quotes/210598015/delayed
CN : Shenhzen Stock Exchange
1,912.00
-25.20 -1.30%
Volume: 28.32B
Sept. 30, 2022 3:00p
loading...
/zigman2/quotes/210598069/delayed
KR : Korea Exchange
2,211.04
+55.55 +2.58%
Volume: 403,349
Oct. 4, 2022 3:20p
loading...
/zigman2/quotes/210597977/delayed
TW : Taiwan Stock Exchange
13,576.52
+276.04 +2.08%
Volume: 0.00
Oct. 4, 2022 1:33p
loading...
/zigman2/quotes/210597985/delayed
SG : Singapore: SGX
3,130.34
+23.25 +0.75%
Volume: 0.00
Oct. 4, 2022 2:25p
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/zigman2/quotes/210598052/delayed
MY : Malaysia
1,407.32
+9.70 +0.69%
Volume: 0.00
Oct. 4, 2022 2:25p
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/zigman2/quotes/210597981/delayed
ID : Indonesia Stock Exchange
7,073.01
+63.29 +0.90%
Volume: 0.00
Oct. 4, 2022 1:30p
loading...
/zigman2/quotes/210598100/delayed
AU : S&P ASX
6,699.30
+242.40 +3.75%
Volume: 994,830
Oct. 4, 2022 5:16p
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/zigman2/quotes/206689846/delayed
JP : Japan: Tokyo
¥ 1,475.00
+75.00 +5.36%
Volume: 13.20M
Oct. 4, 2022 3:00p
P/E Ratio
5.87
Dividend Yield
4.07%
Market Cap
¥1881.61 billion
Rev. per Employee
¥578.38M
loading...
/zigman2/quotes/207303954/delayed
JP : Japan: Tokyo
¥ 5,235.00
+254.00 +5.10%
Volume: 18.32M
Oct. 4, 2022 3:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
¥7734.39 billion
Rev. per Employee
¥133.99M
loading...
/zigman2/quotes/200490352/delayed
JP : Japan: Tokyo
¥ 3,279.00
+69.00 +2.15%
Volume: 5.91M
Oct. 4, 2022 3:00p
P/E Ratio
8.88
Dividend Yield
3.66%
Market Cap
¥5406.81 billion
Rev. per Employee
¥72.53M
loading...
/zigman2/quotes/200663563/delayed
JP : Japan: Tokyo
¥ 77,860.00
+1,540 +2.02%
Volume: 680,300
Oct. 4, 2022 3:00p
P/E Ratio
31.08
Dividend Yield
0.80%
Market Cap
¥7836.71 billion
Rev. per Employee
¥39.58M
loading...
/zigman2/quotes/203421416/delayed
HK : Hong Kong
$ 9.48
+0.07 +0.74%
Volume: 32.40M
Oct. 3, 2022 4:08p
P/E Ratio
3.31
Dividend Yield
7.38%
Market Cap
$430.13 billion
Rev. per Employee
$20.34M
loading...
/zigman2/quotes/204682472/delayed
HK : Hong Kong
$ 2.55
-0.02 -0.78%
Volume: 108.10M
Oct. 3, 2022 4:08p
P/E Ratio
2.78
Dividend Yield
10.15%
Market Cap
$935.79 billion
Rev. per Employee
$3.99M
loading...
/zigman2/quotes/215112034/delayed
HK : Hong Kong
$ 77.65
-0.30 -0.38%
Volume: 30.74M
Oct. 3, 2022 4:08p
P/E Ratio
43.77
Dividend Yield
N/A
Market Cap
$1651.00 billion
Rev. per Employee
$4.05M
loading...
/zigman2/quotes/209800866/delayed
KR : S. Korea: KRX
55,300.00
+2,200 +4.14%
Volume: 17.94M
Oct. 4, 2022 3:19p
P/E Ratio
8.39
Dividend Yield
2.61%
Market Cap
₩355588.85 billion
Rev. per Employee
₩2.69B
loading...
/zigman2/quotes/200513631/delayed
AU : Australia: Sydney
$ 1.56
+0.06 +4.01%
Volume: 7.60M
Oct. 4, 2022 4:10p
P/E Ratio
7.09
Dividend Yield
1.29%
Market Cap
$3.38 billion
Rev. per Employee
N/A
loading...
/zigman2/quotes/210599714/realtime
US : S&P US
3,678.43
+92.81 +2.59%
Volume: 2.22B
Oct. 3, 2022 7:15p
loading...
/zigman2/quotes/210598065/realtime
US : Dow Jones Global
29,490.89
+765.38 +2.66%
Volume: 320.97M
Oct. 3, 2022 7:15p
loading...
/zigman2/quotes/210598365/realtime
US : Nasdaq
10,815.43
+239.82 +2.27%
Volume: 4.46B
Oct. 3, 2022 5:16p
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