Asian stocks are mixed and oil prices slip after Iran and US launch
fresh attacks
[July 09, 2026] By
CHAN HO-HIM
HONG KONG (AP) — Shares were mixed in Asia and oil prices slipped on
Thursday as conflict escalated in the Middle East, with Iran and the
U.S. launching fresh attacks.
U.S. futures advanced.
The United States launched more airstrikes on Iran, and Iran responded
by firing at Bahrain, Kuwait and Qatar, a day after U.S. President
Donald Trump said their temporary ceasefire was “over.” The prospects
for a lasting peace remained uncertain, with high-level talks seeking to
salvage an interim agreement on ending the war still underway, according
to a regional intelligence official involved in the mediation efforts
who spoke on condition of anonymity to discuss the delicate
behind-the-scenes negotiations.
Tokyo’s Nikkei 225 reversed some of its losses from earlier in the week,
gaining 1.4% to 67,743.85, helped by technology-related shares. Chip
equipment maker Tokyo Electron jumped 5.5%, and artificial
intelligence-focused investment holding firm SoftBank Group slipped
0.1%.
South Korea’s Kospi index zigzagged, rising 0.6% to 7,291.91 despite a
loss earlier in the day. It fell 5.4% on Wednesday. Samsung Electronics
was up 0.2% on Thursday, while memory chipmaker SK Hynix gained 5.3%.
The Shanghai Composite index traded 1.7% higher at 4,036.59, even as
China’s producer price index rose 4.1% in June compared to a year
earlier. That was higher than May’s 3.9%, as some economists attribute
the accelerating inflation to rising costs due to the Iran war.
Hong Kong’s Hang Seng shed 0.7% to 24,027.97. Shares of Apple supplier
Luxshare fell 2.5% in its trading debut in Hong Kong. Chinese AI company
Zhipu, or Z.ai, surged 9.3% after it said it's raising about $4 billion
through a share sale.
Australia’s S&P/ASX 200 shed 0.3% to 8,762.50.
Taiwan’s Taiex fell 0.8%, and India’s Sensex climbed 0.7%.
[to top of second column] |
Currency traders watch monitors near a screen showing the Korea
Composite Stock Price Index (KOSPI) and the foreign exchange rate
between U.S. dollar and South Korean won at the foreign exchange
dealing room of the Hana Bank headquarters in Seoul, South Korea,
Thursday, July 9, 2026. (AP Photo/Ahn Young-joon)
 Oil prices fell back early Thursday,
with Brent crude, the international standard, falling $1 to $77.00
per barrel. It briefly topped $80 on Wednesday. Before the Iran war
began, Brent oil was trading at around $72 a barrel. Earlier
optimism over an interim peace deal recently brought it back to
prewar levels.
Benchmark U.S. crude declined 83 cents to $72.69 a barrel.
On Wednesday, Wall Street’s benchmark S&P 500 ended 0.3% lower at
7,482.71. It dropped as much as 1.1% after Trump’s comment on the
ceasefire agreement.
The Dow Jones Industrial Average shed 1.1% to 52,348.39, while the
technology-heavy Nasdaq composite edged up 0.2% following an earlier
loss to 25,870.65.
U.S. chipmaker Broadcom surged 4.8%, after Apple committed to a
multiyear partnership with the company.
In other dealings, the U.S. dollar fell to 162.37 Japanese yen from
162.59 yen. The euro was trading at $1.1438, up from $1.1417.
All contents © copyright 2026 Associated Press. All rights reserved |
