Asian stock markets close mixed with uncertainty over agreement between the US and Iran
Asian and Pacific stock exchanges closed with no direction this Wednesday (1), as uncertainty persisted surrounding the conflict in the Middle East and access to the crucial Strait of Hormuz, despite an initial agreement to end the war between the United States and Iran.
The Nikkei index rose 0.59% in Tokyo, to 70,474.96 points, with investors also paying attention to the foreign exchange market, where the yen has been renewing lows in 40 years against the dollar in the last two days, fueling speculation about a possible intervention by the Japanese government.
On the other hand, South Korean Kospi fell 2.04% in Seoul, to 8,303.41 points, pressured in part by semiconductor giants Samsung Electronics (-5.84%) and SK Hynix (-3.40%).
In mainland China, the Shanghai Composite advanced 0.44%, to 4,112.45 points, and the less comprehensive Shenzhen Composite registered a gain of 0.39%, to 2,851.81 points, after the release of new higher-than-expected manufacturing activity data.
In other markets, Taiex rose 1.94% in Taiwan, to 47,018.99 points, and the Hong Kong market did not operate due to a local holiday.
In Oceania, the Australian stock market ended lower, with a loss of 0.64% on the S&P/ASX 200 in Sydney, at 8,722.90 points.
Oil prices have fluctuated around stability in recent hours, a day after two US envoys arrived in Qatar for talks with mediators on the implementation of the agreement with Iran.
The Americans, however, will not have direct negotiations with Iranian diplomats while in Doha. At the end of the morning, Brent fell more than 1%.
"While oil markets are currently pricing in a gradual return to supply normalization, traffic through the Strait of Hormuz has not yet recovered to pre-war levels," Tim Waterer, chief markets analyst at KCM Trade, noted in a note. Under normal conditions, around 20% of the world's oil transits through Hormuz.
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Source: CNN