Stocks and Military Conflict

Stocks and Military Conflict

A long time started a geopolitical tension in the Middle East. Nevertheless, the pressures increased on January 3. The United States made a drone attack, and as a result, Qasem Soleimani died. Stocks in the Asia Pacific region regained some of their strength, on January 8.

 

For example, Nikkei 22 of Japan retraced some losses. Nevertheless, its index decreased to 23,204.76 by 1.57%. The Topix index also fell to 1,701.40 by 1,27%, at the same time. Shinzo Abe is the Prime minister of Japan. Based on the information, Shinzo Abe canceled a scheduled trip to the Middle East.

 

Kospi index of South Korea’s declined to 2,151.31 by 1.11%. S&P/ASX 200 of Australia recovered from the previous losses to 6,817.60 drops by 0.13%.

 

The Shanghai composite index declined to 3,066.89 by 1.22%. Meanwhile, the Shenzhen fell to 1,769.58 by 1.24%. Shenzhen component is another Chinese component which dropped to 10,706.87, by 1.13%.

Attacks on Military Bases and Stocks

The Hang Send of Hong Kong declined to 28,087.92 by 0.83%.  It is worth mentioning that the Straits Times index fell by 0.24% as Singapore Airlines shares dropped 0.4% as the carrier had to divert flights.

 

S&P Sensex declined by 0.44%, and Nifty 50 fell by 0.54%; thus, shares in India also fell.

 

Stocks in the Asia Pacific retraced some losses on Wednesday. The Iraqi airbase, was attacked by Iran, that is used by the American troops. As a response, Iran promised to target military installation after the United States killed one of the most potent Iranian general several days ago.

 

Against the bases housing American troops in Iraq, Iran launched more than a dozen ballistic missiles. The United States carried out the operation to kill Qasem Soleimani, Iran’s top general, last week, as mentioned above.

 

The information about Iran’s attack on bases remains scarce. Based on the report, U.S. service members were not killed in those attacks.

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