HONG KONG -- World shares were mixed and oil prices slipped on Thursday as conflict escalated in the Middle East, with Iran and the U.S. launching fresh attacks.
U.S. futures were little changed.
The United States launched more airstrikes on Iran, and Iran responded by firing at Bahrain, Kuwait and Qatar, a day after U.S. President Donald Trump said their temporary ceasefire was “over.” The prospects for a lasting peace remained uncertain, with high-level talks seeking to salvage an interim agreement on ending the war still underway, according to a regional intelligence official involved in the mediation efforts who spoke on condition of anonymity to discuss the delicate behind-the-scenes negotiations.
In early European trading, Britain’s FTSE 100 fell 0.6 per cent to 10,422.75. France’s CAC 40 was up 0.3 per cent to 8,280.05, while Germany’s DAX traded 0.3 per cent higher at 24,963.05.
Tokyo’s Nikkei 225 reversed some of its losses from earlier in the week, gaining 1.4 per cent to 67,743.85. Chip equipment maker Tokyo Electron jumped 5.5 per cent, and artificial intelligence-focused investment holding firm SoftBank Group slipped 0.1 per cent.
South Korea’s Kospi index zigzagged and ended 0.6 per cent higher at 7,291.91 despite falling earlier in the day. Samsung Electronics was up 0.2 per cent on Thursday, while memory chipmaker SK Hynix gained 5.3 per cent.
The Shanghai Composite index traded 1.7 per cent higher at 4,036.59, even as China’s producer price index rose 4.1 per cent in June compared to a year earlier. That was higher than May’s 3.9 per cent, as some economists attribute higher inflation to impacts from the Iran war.
Hong Kong’s Hang Seng shed 0.7 per cent to 24,030.18. Shares of Apple supplier Luxshare fell 1.6 per cent in its trading debut in Hong Kong. Chinese AI company Zhipu, or Z.ai, surged 11.3 per cent after it said it’s raising about US$4 billion through a share sale.
Australia’s S&P/ASX 200 shed 0.3 per cent to 8,762.50.
Taiwan’s Taiex fell 0.8 per cent, and India’s Sensex climbed 0.6 per cent.
Oil prices fell back early Thursday, with Brent crude, the international standard, falling 0.4 per cent to $77.69 per barrel. It briefly topped $80 on Wednesday. Before the Iran war began, Brent oil was trading at around $72 a barrel. Earlier optimism over an interim peace deal recently brought it back to prewar levels.
Benchmark U.S. crude also declined 0.4 per cent, to $73.21 a barrel.
On Wednesday, Wall Street’s benchmark S&P 500 ended 0.3 per cent and the Dow Jones Industrial Average shed 1.1 per cent. The technology-heavy Nasdaq composite edged up 0.2 per cent.
U.S. chipmaker Broadcom surged 4.8 per cent after Apple committed to a multiyear partnership with the company.
In other dealings, the U.S. dollar fell to 162.43 Japanese yen from 162.59 yen. The euro was trading at $1.1427, up from $1.1417.
Chan Ho-him, The Associated Press
