Asian markets were mixed in early trading Friday, as investors refocused on geopolitical tensions.
Iran said Thursday it had shot down a U.S. military drone, an act that President Donald Trump said may have been an accident on Iran’s part. It is unclear how or if the U.S. will react, as tensions in the Persian Gulf region continue to simmer. When asked Thursday if the U.S. would retaliate, Trump said “You’ll soon find out.”
Late Thursday, the Federal Aviation Administration prohibited U.S. carriers from flying over Iranian-controlled parts of the Persian Gulf and Gulf of Oman, over fears of a jetliner accidentally being shot down.
Meanwhile, North Korea’s Kim Jong Un suggested a willingness to compromise and return to denuclearization talks after a summit with China’s President Xi Jinping, according to the Wall Street Journal. In return, Xi reportedly pledged Chinese security and development support.
retreated 0.7% and South Korea’s Kospi
slipped 0.2%. Hong Kong’s Hang Seng Index
gained 1% as protesters again gathered in front of government offices. The Shanghai Composite
rose 0.1% and the smaller-cap Shenzhen Composite
surged 1.3%. Benchmark indexes in Taiwan
were mixed. Australia’s S&P/ASX 200
Among individual stocks, oil producer Inpex
gained in Tokyo trading as oil prices surged. SoftBank
declined. In Hong Kong, CNOOC
rose while Sands China
and Geely Automobile
fell. SK Hynix
dropped in South Korea while Taiwan Semiconductor
gained in Taiwan. In Australia, Beach Energy
and Fortescue Metals