Asia-Pacific Stocks Fall as Kospi Drops 2.15% on Iran Tensions, Inflation and Trump-Xi Focus
Updated
Updated · CNBC · May 13
Asia-Pacific Stocks Fall as Kospi Drops 2.15% on Iran Tensions, Inflation and Trump-Xi Focus
9 articles · Updated · CNBC · May 13
South Korea’s Kospi led regional losses, falling 2.15% at the open, while Japan’s Nikkei 225 lost 0.52%, Australia’s ASX slipped 0.56% and Hong Kong futures pointed lower.
April inflation came in hotter than expected as investors also weighed oil-price pressure and renewed concern over the U.S.-Iran conflict after Donald Trump called the month-old ceasefire “on massive life support.”
Washington’s Iran stance added to the unease: Trump rejected Tehran’s counterproposal to end the conflict, and Defense Secretary Pete Hegseth said the president could restart strikes without congressional approval after the 60-day war-powers threshold passed.
Trade is also in focus ahead of a Trump-Xi meeting where tariffs and broader U.S.-China relations are expected to be discussed, adding another risk point for regional markets.
Oil eased only slightly despite the geopolitical strain, with WTI at $101.66 and Brent at $107.16, after Wall Street’s S&P 500 and Nasdaq pulled back from record highs on Tuesday.
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