Asian Stock Market News: The impact of rising tensions in the Middle East and higher than expected inflation figures in the United States was clearly visible in Asian markets including India. In the Indian market, BSE Sensex fell by almost 1,000 points in early trading, causing panic among investors. Fall in Asian markets: Heavy pressure was also seen in major indices of Asia. Nikkei 225 fell by almost 2% and later fell by about 1.5% to 57,947.
Chaos in Asian market
It recorded a fall of more than 900 points in early trade. The Hang Seng Index slipped 1.7% to 26,165, while the Shenzhen Component Index fell 109 points to 14,386. The market remained closed due to public holiday in South Korea. Pressure was also seen in American futures. The S&P 500, Dow Jones Industrial Average and NASDAQ Composite fell more than 1% early, although losses were limited to about 0.6% with some recovery later.
Rise in Gold: Amid global uncertainty, the prices of gold, which is considered a safe investment, rose. US gold futures rose about 2.58% to $ 5,382.60 an ounce. Concern about oil supply increased after news of attacks on two ships in the Strait of Hormuz.
Gold prices rose
US benchmark crude jumped nearly 8% in early trading, although it later gained 4% to $69.60 a barrel. Global oil standard Brent Crude also rose 4.5% to $ 76.17 per barrel. Energy experts believe that if tensions in West Asia continue for a long time, there could be a long-term impact on oil and gas prices. Currency Market: US dollar remained strong in the currency market.
The dollar rose from 156.29 Japanese yen to 156.04 yen. The euro slipped from $1.1788 to $1.1812. Overall, global geopolitical tensions and strong US inflation data have alerted investors, the impact of which is visible simultaneously in equity, commodity and currency markets.
Also read: There was panic in the stock market due to Iran war, but this stock ran fast, made huge profits to the investors.
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