- Asia-Pacific markets opened mixed amid rising crude prices and Middle East conflict concerns
- Japan's Nikkei 225 rose 2%, South Korea's Kospi gained 1.6%, while Hang Seng futures fell 1.59%
- US futures declined as investors awaited inflation data and monitored Iran-US negotiations
Asian Markets Today: Asia-Pacific markets opened mixed on Monday, June 22, amid higher crude oil prices as uncertainty over the Middle East conflict continues. Negotiators from the US and Iran continued talks in Switzerland even as Donald Trump threatened fresh strikes. Japan's Nikkei 225 opened 2% higher to trade above 72,700, while South Korea's Kospi last traded 1.6% higher after the opening bell. Topix rose 1.28%, while South Korea's small-cap index Kosdaq slipped 0.5%.
China's Hang Seng index futures were down 1.59%, lower than the index's last close of 23,924.81, while the Shanghai index also traded in red. Australia's benchmark S&P/ASX 200 was marginally higher. In the West, US equity futures slipped and crude oil prices rose as Wall Street watched the latest developments of the Iran war negotiations and awaited the release of the inflation data that is closely watched by the US Federal Reserve. US stock market was closed on Friday for the Junteenth.
S&P 500 futures traded 0.4% loweer, while Nasdaq-100 futures were 0.6% lower. Dow Jones futures dropped 183 points. The three leading US indexes staged a comeback on Thursday led by a rise in chip stocks. However, investors are uncertain about the trajectory of the US central bank's policy stance after Kevin Warsh delivered a hawkish stance with no outlook commentary.
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US President Donald Trump escalated his rhetoric against Iran, saying the United States could take control of the Strait of Hormuz and levy tolls on crude oil shipments if required. The statement came after Iran said on Saturday that it had closed the Strait of Hormuz in response to Israel's attacks in Lebanon and warned that, although negotiators headed to Switzerland for talks with the United States on an interim agreement, little was likely to be achieved unless the fighting stopped.
Brent crude climbed 2.2% to above $82 a barrel, while West Texas Intermediate traded above $78. Trump has threatened military action against Iran if Hezbollah resumes attacks on Israel, injecting fresh uncertainty into peace negotiations that had raised hopes of easing tensions in the Middle East. The gains came despite high-level talks between US and Iran officials in Switzerland, where both sides seek a broader agreement aimed at de-escalating the conflict and opening key trade routes.
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