Asian markets mixed; oil nears $100 on Mideast tensions

September 09, 2026 (MLN): Asian markets traded mostly lower on Wednesday as escalating tensions between the United States and Iran pushed oil prices higher and weighed on investor sentiment, following a decline on Wall Street.

Japan’s Nikkei 225 slipped 0.23%, while the broader Topix fell 0.35%. South Korea’s Kospi gained 0.36%, with the small-cap Kosdaq rising 0.47%. Australia’s S&P/ASX 200 was marginally higher, according to CNBC.

Earlier in the session, the Nikkei 225 was flat, while the Topix added 0.27%. The Kospi advanced 1.17% and the Kosdaq climbed 1.48%. Australia’s S&P/ASX 200 fell 0.2%, while Hong Kong’s Hang Seng was flat and mainland China’s CSI 300 edged up 0.12%.

Investor sentiment remained under pressure after the U.S. military destroyed five Iranian crude oil tankers on Tuesday, according to a statement from U.S. Central Command.

The action followed two ballistic missile launches by Iran’s Revolutionary Guard toward a U.S. warship over the previous two days.

Oil prices extended gains amid concerns that the escalating conflict could disrupt energy supplies from the Middle East. WTI crude futures for October delivery rose 1.75% to $94.66 per barrel, while Brent futures gained 1.55% to $99.44 per barrel.

The rise in oil prices followed a weaker session on Wall Street, where the Dow Jones Industrial Average fell 1.2%, marking its steepest decline in nearly three weeks. The S&P 500 dropped 0.6%, while the Nasdaq Composite declined 0.3%.

Higher crude prices also intensified inflation concerns, with the 10-year U.S. Treasury yield briefly moving above 4.8% on Tuesday. Rising yields added further pressure on equities.

Markets are now turning their attention toward upcoming U.S. inflation data later this week for clues about the Federal Reserve’s interest-rate outlook, with no major economic indicators or corporate earnings scheduled for Wednesday.

Copyright Mettis Link News