Asia-Pacific markets mixed as oil surges

Tuesday, 17 March 2026 03:09 - - {{hitsCtrl.values.hits}}

Asia-Pacific equity markets yesterday traded mixed as investors weighed rising oil prices and escalating tensions between the United States and Iran.

Crude oil prices surged above $100 a barrel after the Trump administration considered further military action targeting Iran’s Kharg Island, a key export terminal often described as the country’s “oil lifeline.” By late trading, US crude was around $98.7 per barrel while Brent crude, the global benchmark, rose 0.48% to $103.7 per barrel.

In regional markets, Hong Kong’s Hang Seng Index gained 1.45% to close at 25,834.02. Mainland China’s CSI 300 was little changed at 4,671.56 despite stronger-than-expected economic data.

Elsewhere in the region, Japan’s Nikkei 225 edged down 0.13% to 53,751.15, while South Korea’s Kospi advanced 1.14% to 5,549.85. Australia’s S&P/ASX 200 declined 0.39% to end at 8,583.40.