Asian Markets Slide on Wall Street Pullbacks and Rising Crude Prices
Asian stock markets declined on Thursday, following overnight losses on Wall Street. The downturn was attributed to increased U.S. Treasury yields and sustained geopolitical tensions in the Middle East.
The Brent crude price remained elevated at around $96.70 a barrel, adding to concerns over inflation, import costs, and central bank policy. This uncertainty weighed heavily on regional sentiment ahead of upcoming U.S. inflation data and the Federal Reserve's September meeting.
Despite this, U.S. equity futures held steady, with Nasdaq futures flat at +0.02%, S&P 500 futures up 0.20%, and Dow futures up 0.34%. In commodities, crude oil prices rose, while spot gold remained stable near $4,400 an ounce.
South Korea's KOSPI fell 0.15% to around 6,920, reversing previous gains. Japan's Nikkei 225 JPN225 dropped 0.38% to below 64,600, while the broader Topix Index declined 0.65% to 4,020.
Bank of Japan board member Kazuyuki Masu reaffirmed plans to continue raising policy rates as underlying inflation approaches 2%. China's 000001 fell 0.40% to 3,932, and Hong Kong's HSI dropped 1.46% to around 24,970.
India's SENSEX stabilized near three-month lows at 74,732, while Australia's AU200AUD shares plummeted 1.39% to 8,761, marking its sharpest single-day decline in recent weeks.