Pedestrians cross an intersection in Shibuya Ward, Tokyo, Japan, Tuesday, February 6, 2024.
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Asia-Pacific markets fell on Monday as traders weighed the impact of a weekend Iranian drone attack on Israel while keeping an eye on key economic data from China and Japan later in the week.
Iran launched more than 300 drones and missiles at Israeli military targets on Saturday, an attack President Joe Biden called “Unprecedented.”
In a statement on Saturday, Biden said the United States intervened to directly help Israel shoot down nearly all incoming munitions.
Oil prices were little changed Monday morning Brent Crude Oil Futures Trading price rose 0.02% to $90.47 per barrel U.S. West Texas Intermediate Crude Oil Futures It fell 0.13% to $85.55.
India will release March wholesale inflation data later in the day, while China will release first-quarter GDP data on Tuesday. Japan will release March trade data and inflation data on Wednesday and Friday respectively.
Japan’s Nikkei 225 Index It opened down 1.28%, while the Topix fell 0.97%.
South Korea’s Kospi fell 0.92% and the small-cap Kosdaq fell 1.58%.
In Australia, S&P/ASX 200 Index The decline was smaller compared to other Asian markets, down 0.14%.
Hong Kong’s Hang Seng Index futures were at 16,476 points, opening weaker than the Hang Seng Index’s closing point of 16,721.69 points.
U.S. stock futures were higher on Sunday as investors assessed Iran’s missile and drone attacks on Israel and stock market volatility surged. Dow Jones Industrial Average Last week was the worst week of the year.
Futures linked to the Dow Jones Industrial Average It rose 90 points, or 0.2%. S&P 500 Index Futures Add 0.2% and Nasdaq 100 Futures up 0.3%.
gold futures It pulled back slightly to $2,373 per ounce. Gold prices hit a record high last week and are up 15% this year as investors seek shelter from sticky inflation and geopolitical tensions.
—CNBC’s Hakyung Kim contributed to this report.
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