Asian Markets Mixed After Wall Street Slide, Oil Rises on Iran Concerns

what happened

Asian stock markets are trading mixed on Monday after a negative close on Wall Street. Pressure on technology shares continues amid renewed worries about the AI trade, and the Nasdaq lost 2.9 percent on Friday. Investors are also watching talks between Qatari mediators and Iranian officials, which could ease concerns about oil supply.

In Australia, the S&P/ASX 200 is down 0.64 percent, with gold miners among the weakest. In Japan, the Nikkei 225 slipped 0.31 percent, while Tokyo Electron gained more than 6 percent and Screen Holdings fell more than 17 percent after weak quarterly results. According to S&P Global, Japan's manufacturing index came in at 53.3, while Australia's stayed below the 50 line.

West Texas Intermediate for December delivery rose 2.34 percent on Friday to $104.39 a barrel, after media reports pointed to possible renewed U.S. military action against Iran.

why it matters

Higher crude linked to the Iran situation supports energy stocks and adds to inflation worries, which matter for the yen and the Aussie dollar. Weakness in U.S. tech shares is spreading to Asian markets, especially Japan and South Korea.

market impact

Oil: supply-disruption risk supports prices; Asian tech stocks under pressure from the Wall Street sell-off

• ▲Brent pressure up — supply-disruption fears tied to possible action against Iran
• ▼Nasdaq pressure down — renewed AI-trade concerns after a steep Friday sell-off

instruments