Asian Shares Mixed as US Raises Pressure on Iran
Asian shares were mostly lower on Tuesday as investors digested mixed signals from US markets and potential market-moving events. The Nikkei 225 in Tokyo gained 0.4% to 65,811.19, while the Kospi in South Korea fell 0.4% to 6,675.88. Hong Kong's Hang Seng lost 0.3% to 25,453.19 and the Shanghai Composite index edged 0.1% lower.
The US Treasury Secretary Scott Bessent announced fresh sanctions against Iran and warned that countries persisting in doing business with the Islamic Republic would face retaliation. Oil prices were little changed after this announcement, with Brent crude trading at nearly $90.51 per barrel and US benchmark crude oil edging less than 0.1% higher to $85.10 per barrel.
US stocks drifted to a mixed finish ahead of potentially market-moving events later in the week, including Nvidia's quarterly earnings report on Wednesday, which could dictate the next big move for AI-related stocks. The S&P 500 slipped 0.3% and pulled further from its all-time high set earlier this month.