Asia shares slide as Iran clash lifts oil, yields stay elevated
The combination of renewed US-Iran fighting and firmer expectations for a US rate hike is hitting Asian equities on two fronts at once, with geopolitical risk pushing oil higher just as elevated bond yields make risk assets less attractive on a relative basis. The scale of the moves, with Japan and South Korea both posting sizeable declines, points to broad-based de-risking rather than a narrow, sector-specific reaction, consistent with the kind of session where traders cut exposure across the board rather than rotate into perceived safe havens within the region. China's more modest pullback despite a batch of PMI data that beat expectations, even though it remained below the 50-point expansion threshold, suggests the domestic policy and growth narrative is for now taking a back seat to the external shocks driving sentiment elsewhere in Asia. With yields still elevated and the Middle East situation unresolved, this combination is likely to keep pressure on regional equities until there is more clarity on either front.
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Fresh US-Iran fighting and sticky bond yields combined to drag Asian shares lower even as oil climbed.
Summary:
- Asian share markets slid on Monday after fresh fighting broke out between the US and Iran, lifting oil prices.
- Bond yields stayed elevated as investors narrowed the odds on a US rate hike.
- Japan's Nikkei fell by around 1.5%, while South Korea's Kospi dropped by around 2%.
- China's CSI 300 eased by a smaller margin, around 0.5 to 1%.
- China's official manufacturing PMI rose to a level just under 50 in August, up from July, pointing to activity that remains subdued despite the improvement.
Asian share markets slid on Monday as fresh fighting broke out between the United States and Iran, lifting oil prices, while bond yields remained elevated after investors narrowed the odds on a US interest rate hike. The combination of renewed geopolitical stress and higher-for-longer yield expectations weighed broadly across the region's major indexes.
Japan's Nikkei led the declines among the region's larger markets, falling by around 1.5 percent, as higher yields and the geopolitical flare-up combined to pressure sentiment. South Korean stocks fell by a larger margin, down around 2 percent, reflecting the market's sensitivity to both oil price moves and broader risk-off positioning.
Chinese equities were comparatively more resilient, with the CSI 300 easing by a smaller margin, around half a percent to just under one percent, even as fresh data offered a mixed read on the domestic economy. China's official manufacturing purchasing managers' index rose to just under the 50-point threshold in August, an improvement from July's reading, though the level continues to point to factory activity that remains subdued rather than expanding.
The session's losses across the region underscore how the twin pressures of renewed conflict risk and a firmer near-term US rate outlook are combining to weigh on investor appetite for equities, even in markets where domestic data offered some incremental encouragement. With oil prices climbing on the back of the US-Iran escalation and yields showing little sign of easing, the setup looks likely to keep Asian markets on the back foot in the sessions ahead absent a shift on either front.
This article was written by Eamonn Sheridan at investinglive.com.提供 MainLink：Investinglive RSS Breaking News Feed
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