Public Markets 3h Briefing
×Middle East Conflict Shakes Markets
The Pakistan stock exchange bloomberg.com halted trading after stocks fell to record lows as US and Israeli strikes on Iran escalated regional tensions. Asian airline stocks investing.com tumbled alongside broader Asian markets as the conflict drove oil prices higher and sparked risk-off sentiment across the region.
Fuel prices bloomberg.com jumped Monday with diesel surging more than crude oil as the widening Middle East war threatened Persian Gulf refinery exports. More than half of the world's largest maritime insurance clubs will cease war-risk cover bloomberg.com for ships entering the Persian Gulf starting Thursday, raising shipping costs and disrupting global trade flows.
Asian Market Reactions
Asian defense stocks investing.com rose as US-Iran conflict stoked geopolitical tensions, while Asian FX fell investing.com with the South Korean won leading losses amid the oil price surge. Indian stocks bloomberg.com erased earlier gains from a US trade deal as Middle East conflict dented investor sentiment, with Indian refiners bloomberg.com scrambling to secure alternative Russian oil supplies after Iran's Strait of Hormuz flows nearly stopped.
The Hang Seng Tech Index bloomberg.com slipped below a crucial support line, flashing bearish signals as geopolitical tensions and earnings worries triggered more selloffs in Chinese tech stocks. Chinese automakers wsj.com recorded sharp February sales drops during Lunar New Year, while Geely bloomberg.com extended its lead over BYD with the biggest sales gap since 2022.
Energy & Commodities
Oil prices bloomberg.com are not expected to see a big jump despite the conflict, with analysts predicting resolution within four weeks as Iran's regime proves to be a "paper tiger." However, fuel prices jumped Monday with diesel surging more than crude oil as the widening Middle East war threatened Persian Gulf refinery exports.
Clean Max Enviro Energy Solutions bloomberg.com shares tumbled in their Mumbai IPO debut after raising $341 million, underscoring muted investor appetite for renewable energy offerings amid broader market uncertainty.
Regional Developments
BOJ deputy governor Himino investing.com signaled more interest rate hikes are likely, adding to market volatility as Japan navigates monetary policy amid global uncertainty. Sony ft.com faces a £2 billion lawsuit claiming UK PlayStation users are overcharged for games, potentially affecting millions of download purchasers over the past decade.
Spain's Moeve ft.com bucked green hydrogen industry gloom with a €1 billion project in Andalusia, backed by Mubadala and Carlyle, providing a rare boost to the beleaguered sector.