CANBERA (dpa-AFX) - Asian stock markets are trading mostly lower on Wednesday, following the mixed cues from Wall Street overnight, as continuing uncertainty about the fragile ceasefire in the Middle East conflict and the related surge in crude oil prices is weighing on market sentiment. The US launched fresh strikes on Iran, with US President Donald Trump accusing Tehran of downing a helicopter in the Strait of Hormuz. Asian markets closed mostly higher on Tuesday.
The U.S. military has launched fresh strikes against Iran in a very strong, powerful response to the downing of a U.S. Army Apache helicopter off the Oman coast. It was said that U.S. fighter jets struck Iranian air defense systems and radar sites near the Strait of Hormuz.
Iran also launched missiles and drones toward U.S. targets in the region and warned that 'heavier and broader' attacks would follow if the United States continued aggression against Iran.
Australian shares are trading modestly higher on Wednesday after opening in the red, snapping a three-session losing streak, with the benchmark S&P/ASX 200 falling well below the 8,650 level, following the mixed cues from Wall Street overnight, with gains in financial stocks partially offset by weakness in gold miners and technology stocks.
The benchmark S&P/ASX 200 Index is gaining 31.30 points or 0.36 percent to 8,635.50, after hitting a low of 8,585.50 and a high of 8,670.20 earlier. The broader All Ordinaries Index is up 16.70 points or 0.19 percent to 8,841.50. Australian stocks ended modestly lower on Tuesday.
Among major miners, BHP Group is gaining almost 1 percent. Mineral Resources is losing more than 2 percent, while Rio Tinto and Fortescue are edging down 0.1 to 0.3 percent each.
Oil stocks are mixed. Woodside Energy and Beach energy are edging down 0.4 to 0.5 percent each, while Origin Energy is edging up 0.2 percent and Santos is gaining almost 1 percent.
In the tech space, Afterpay owner Block and WiseTech Global are losing almost 2 percent each, while Zip and Xero are down more than 1 percent. Appen is slipping almost 5 percent.
Among the big four banks, Westpac is gaining almost 2 percent and ANZ Banking is adding almost 1 percent, while National Australia bank and Commonwealth Bank are edging up 0.4 to 0.5 percent each.
Among gold miners, Evolution Mining and Newmont are losing more than 3 percent each, while Resolute Mining and Genesis Minerals are slipping almost 5 percent each. Northern Star Resources is down almost 3 percent.
In the currency market, the Aussie dollar is trading at $0.703 on Wednesday.
The Japanese stock market is trading significantly lower on Wednesday, reversing some of the sharp gains in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is falling below the 64,700 level, with weakness in index heavyweights, automakers and exporter stocks partially offset by gains in financial and technology stocks.
The benchmark Nikkei 225 Index closed the morning session at 64,681.39, down 735.24 points or 1.12 percent, after hitting a low of 64,441.61 earlier. Japanese stocks ended sharply higher on Tuesday.
Market heavyweight SoftBank Group is tumbling more than 7 percent, while Uniqlo operator Fast Retailing is gaining more than 1 percent. Among automakers, Honda is losing almost 1 percent and Toyota is also down almost 1 percent.
In the tech space, Advantest is losing almost 2 percent, while Screen Holdings is soaring more than 9 percent and Tokyo Electron is surging more than 6 percent.
In the banking sector, Sumitomo Mitsui Financial and Mizuho Financial are adding almost 1 percent each, while Mitsubishi UFJ Financial is gaining more than 2 percent.
Among the major exporters, Mitsubishi Electric and Panasonic are losing almost 3 percent each, while Canon is edging down 0.4 percent and Sony is declining more than 2 percent.
Among other major losers, Sumco is tumbling more than 8 percent, while Sumitomo Electric Industries, Nintendo and Furukawa Electric are plunging more than 7 percent each. Fujikura is sliding more than 6 percent and Kawasaki Kisen Kaisha is slipping almost 5 percent, while Yaskawa Electric, Nippon Electric Glass, Resonac Holdings, Taiyo Yuden and Daiichi Sankyo are declining more than 4 percent each. JTEKT is losing almost 4 percent and Murata Manufacturing is down more than 3 percent.
Conversely, Kawasaki Heavy Industries is advancing more than 4 percent and Sumitomo Metal Mining is gaining almost 4 percent, while Recruit Holdings, ZOZO, Dai-ichi Life Group, J. Front Retailing, Lasertec and T&D Holdings are adding almost 3 percent each.
In economic news, producer prices in Japan were up 0.9 percent on month in May, the Bank of Japan said on Wednesday. That exceeded expectations for an increase of 0.5 percent following the upwardly revised 2.8 percent jump in April (originally 2.3 percent).
On a yearly basis, producer prices jumped 6.3 percent - again topping forecasts for 5.6 percent and up from the upwardly revised 5.3 percent in the previous month (originally 4.9 percent).
Export prices were up 0.7 percent on month and 11.7 percent on year, the central bank said. And import prices rose 3.0 percent on month and 15.5 percent on year.
In the currency market, the U.S. dollar is trading in the lower 160 yen-range on Wednesday.
Elsewhere in Asia, South Korea is tumbling 4.0 percent, while Singapore and Taiwan are down 1.1 and 1.4 percent, respectively. New Zealand, China and Hong Kong are lower by between 0.1 and 0.9 percent each, while Indonesia and Malaysia are up 2.3 and 0.2 percent, respectively.
On the Wall Street, stocks went on another roller coaster ride over the course of the trading session on Tuesday following the sell-off seen last Friday and the subsequent rebound on Monday. The major averages moved to the upside early in the session before pulling sharply only to regain ground in afternoon trading.
The tech-heavy Nasdaq eventually ended the session down 250.84 points or 1 percent at 25,678.82. The S&P 500 also fell 19.08 points or 0.3 percent to 7,386.65, while the narrower Dow rose 86.10 points or 0.2 percent to 50,872.11.
The major European markets also displayed a mixed performance on the day. The U.K.'s FTSE 100 Index slumped by 1.4 percent and the German DAX Index slid by 0.7 percent, although the French CAC 40 Index bucked the downtrend and inched up by 0.1 percent.
Crude oil prices plunged on Tuesday after Israel and Iran halted their exchange of attacks. West Texas Intermediate crude for July delivery was down $3.11 or 3.41 percent at $88.19 per barrel.
Copyright(c) 2026 RTTNews.com. All Rights Reserved
Copyright RTT News/dpa-AFX
© 2026 AFX News
