Asia stocks slide after Israel strikes Iran

By MG News | June 13, 2025 at 09:20 AM GMT+05:00
June 13, 2025 (MLN): Asia-Pacific markets tumbled Friday following Israel’s military strike on Iran, which targeted its nuclear program.
In response, Iran vowed to retaliate, heightening geopolitical tensions and sparking a global risk-off sentiment.
Japan’s benchmark Nikkei 225 fell 1.12%, while the Topix lost 0.96%.
South Korea’s Kospi was down 0.98%, and the Kosdaq plummeted 2.91%. Australia’s S&P/ASX 200 declined 0.23%.
Hong Kong’s Hang Seng Index dropped 0.72%, matching the decline in mainland China’s CSI 300, which also fell 0.72%.
In India, the Nifty 50 slipped 1.01%, while the BSE Sensex lost 1.42%.
The market turmoil followed a declaration by Israeli Defense Minister Israel Katz of a “special situation” after Israel launched preemptive airstrikes against Iran.
Two U.S. officials confirmed to NBC News that the Israeli military had begun the strikes, while clarifying there was no U.S. involvement.
Katz warned of an imminent missile and drone attack by Iran targeting Israeli civilians, as CNBC reported.
Oil prices surged in reaction, with U.S. West Texas Intermediate rising 10.21% to $74.99 per barrel, and global benchmark Brent climbing 10.28% to $76.48.
Saul Kavonic, head of energy research at MST Marquee, noted, “The market has largely been shrugging off geopolitical risk for the last year, and these developments have been a wakeup call that these risks are more tangible and imminent than many expect.”
He added, “It is possible these attacks could be calibrated to add pressure on U.S. Iran negotiations and the situation subsequently de-escalate.”
Meanwhile, U.S. stock futures slid Thursday night as tensions worsened.
However, U.S. producer prices in May rose only 0.1% from the previous month, below the 0.2% expected by economists surveyed by Dow Jones.
The cooler reading followed a softer consumer inflation report earlier in the week and helped lift investor sentiment, driving bond yields lower.
Despite geopolitical concerns, all three major U.S. indexes closed higher overnight.
The S&P 500 rose 0.38% to 6,045.26, now sitting less than 2% from its all-time high.
The Nasdaq Composite gained 0.24%, ending at 19,662.48, while the Dow Jones Industrial Average added 101.85 points, or 0.24%, closing at 42,967.62, buoyed by a rally in Oracle that lifted the tech sector.
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