U.S. Strikes Iran, Oil Prices Surge Further; Asian Stocks Mostly Up on Bargain Hunting

(CNA, Hong Kong, 14th –综合外电) The United States has launched a new wave of airstrikes against Iran, causing oil prices to spike once again, signaling a further escalation of hostilities. With skepticism growing over a fragile ceasefire, markets are increasingly concerned that inflation could surge again. Most major Asian stock indices rose today as bargain hunters entered the market.

According to AFP, technology stocks caught a brief reprieve after the latest wave of selling pressure, though they only recovered part of their losses. Earlier, fears of overheated AI investments and inflated valuations had triggered sharp declines.

On the morning of the 12th, Iranian forces attacked a commercial vessel transiting the Strait of Hormuz, prompting the U.S. to launch a fresh round of military strikes. Tehran subsequently announced the closure of the strait. Iran also launched attacks on targets in Bahrain, Jordan, Kuwait, and Oman, in retaliation for a series of U.S. airstrikes on targets within the Islamic Republic.

Markets are worried that renewed conflict and the risk of inflation spiking again could force the U.S. Federal Reserve (Fed) and other central banks to raise interest rates sooner. As a result, oil prices surged over 9% in a single day yesterday. Prices continued to climb by more than 1% today.

U.S. President Trump said yesterday he would "hit Iran hard" and declared that a 20% fee would be imposed on all cargo passing through the Strait of Hormuz.

Jason Wong of Bank of New Zealand (BNZ) said: "With Trump, it's always hard to know how seriously to take such announcements, but Gulf allies won't welcome this plan, and it almost certainly violates international law. A 20% fee would add roughly $16 per barrel to the cost of oil transported through the strait."

Japan's benchmark Nikkei index closed up 0.7% at 67,743.50. Hong Kong's Hang Seng Index rose 0.5% to 24,340.73. The Shanghai Composite Index gained 1.4% to close at 3,967.13.

Among other Asian markets, Seoul, Singapore, Kuala Lumpur, and Jakarta closed higher. Taipei, Bangkok, Wellington, and Manila markets ended lower. Sydney's market was flat. (Compiled by: He Hongru) 1150714

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