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Asian shares slip and oil pares gains on Iran war uncertainties
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Asian shares slip and oil pares gains on Iran war uncertainties

The Seattle Times·CHAN HO-HIM The Associated Press·28 days ago
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HONG KONG (AP) — Asian stocks declined Tuesday, tracking losses on Wall Street after U.S. stocks retreated from record highs. Oil prices fell back after rising earlier on escalating tensions in the war between the U.S. and Iran. U.S. futures edged 0.1% higher. Regional trading was thin, with markets in Japan, South Korea and mainland China closed for holidays. Hong Kong’s Hang Seng fell 1.1% to 25,805.98. Australia’s S&P/ASX 200 lost 0.5% to 8,649.80, while Taiwan’s Taiex traded 0.2% lower at 40,626.22. The fragile ceasefire between the U.S. and Iran was tested Monday after the U.S. military said it had sank six Iranian small boats targeting civilian ships, while two U.S.-flagged ships successfully passed through the Strait of Hormuz. The key waterway for oil and gas tranport remains largely closed despite repeated demands from the U.S. for Iran to reopen the strait and as the United States imposed a sea blockade on Iranian ports. U.S.…

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