Asian shares slip and oil pares gains on Iran war uncertainties
Asian stocks declined on Tuesday, tracking losses on Wall Street, as oil prices fell back after rising earlier on escalating tensions in the war between the U.S. and Iran. Hong Kong's Hang Seng fell 1.1% to 25,805.98, while Brent crude fell $1.22 to $113.22 per barrel.
Asian stocks declined on Tuesday, following losses on Wall Street. Hong Kong's Hang Seng fell 1.1% to 25,805.98, Australia's S&P/ASX 200 lost 0.5% to 8,649.80, and Taiwan's Taiex traded 0.2% lower at 40,626.22. Oil prices fell after rising earlier due to escalating tensions between the U.S. and Iran. Brent crude fell $1.22 to $113.22 per barrel, and U.S. crude slipped $2.08 to $104.34 per barrel. The U.S. military reported sinking six Iranian small boats targeting civilian ships, while two U.S.-flagged ships passed through the Strait of Hormuz. The fragile ceasefire between the U.S. and Iran was tested, with tensions escalating after the United Arab Emirates reported being attacked by Iran.
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