Asian stocks mostly down on fresh Hormuz worries
Oil prices extended gains and most stocks fell further on Friday amid fading optimism over a deal to reopen the Strait of Hormuz, as reports said Iran was planning to block US and Israeli ships from t...
Asian markets fell on Friday due to renewed concerns over Iran's potential blockade of the Strait of Hormuz. The Nikkei 225 closed down 0.1% in Tokyo, while the Hang Seng Index in Hong Kong and Shanghai Composite in Shanghai rose slightly. Oil prices continued to gain, rallying four percent on Thursday as Iran reportedly planned to restrict U.S. and Israeli ships from the waterway.
Traders questioned whether the week's gains were justified, especially ahead of US jobs and consumer price data, which could influence the Federal Reserve's rate decision.
Written by urgent.news from Gulf Times Business's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
