In Hong Kong, the benchmark Hang Seng Index fell 68 points, or 0.27 percent, to open at 25,267.
The China enterprises index was 34 points, or 0.4 percent, down at 8,547 while the tech index was 33 points, or 0.7 percent, down at 4,889.
Across the border, the benchmark Shanghai Composite Index opened down almost seven points, or 0.17 percent, at 3,924.
The Shenzhen Component Index was 44 points, or 0.32 percent, lower at 13,756 while the ChiNext Index, tracking China’s Nasdaq-style board of growth enterprises, was down 0.54 percent at 3,299.
In Tokyo, the 225-issue Nikkei Stock Average was 105 points, or 0.2 percent, up at 53,855. It was at 53,866 at one point before noon.
In Seoul, the Korea Composite Stock Price Index was 48 points, or 0.85 percent, down at 5,594. Its losses accelerated before noon, with the benchmark shedding 182 points, or 3.23 percent, at 5,460 at one point.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged 0.23 percent lower, set for an 8.7 percent decline in the month, its biggest monthly drop since October 2022.
The US dollar held firm near recent highs and was on track for a 2 percent monthly gain, cementing its status as the markets’ preferred safe haven.
The latest comments by Iran suggested some willingness by Tehran to negotiate an end to the war if its demands were met. The United States sent a 15-point ceasefire proposal to Iran that was originally brushed aside by Iranian officials.
“While the headline flow points to a more constructive tone, markets remain unsure which signals to trust and act upon,” Chris Weston, head of research at Pepperstone, said.
“Price action suggests participants expect further twists and turns, even as the probability of a negotiated outcome edges higher.”
The Mideast disruption has sent prices surging above US$100 per barrel. Brent crude futures were at US$103 per barrel, up 1 percent on the day, and set for a 42 percent jump in the month.
“If you look at what the US wants to achieve, what Israel wants to achieve, and what Tehran wants to achieve, it will be very hard to reconcile all these points,” said Matthias Scheiber, senior portfolio manager and the head of the Multi Asset team at Allspring Global Investments. “We still think there is a case to make for structurally higher energy prices for the moment.” (Reuters & Xinhua)
Edited by Edmond Fong
