A pedestrian watches a share prices board displayed on a window of a securities firm in Tokyo. Japanese stocks closed down 185.49 points to 19,285.63 yesterday.
AFP/Tokyo
Asian markets were mixed yesterday in edgy trade as investors tracked the crisis in Yemen, with fears that unrest in the country could turn into a wider Middle East conflict.
Wall Street provided another negative lead while the euro struggled after tumbling in New York from levels above $1.10 earlier in the day as traders sought out safe investments.
Oil price also dipped a day after surging on fears the unrest in Yemen could disrupt supplies from major crude producers nearby.
Tokyo tumbled 0.95%, or 185.49 points, to finish at 19,285.63 and Seoul fell 0.14%, or 2.76 points, to 2,019.80, while Hong Kong was barely changed, edging down 10.88 points to 24,486.20.
However, Sydney added 0.69%, or 40.84 points, to close at 5,919.9 following a heavy fall Thursday, while Shanghai ended up 0.24%, or 9points, at 3,691.10 on hopes for more Chinese stimulus.
In other markets, Taipei fell 1.20%, or 115.40 points, to 9,503.72; Acer shed 3.27% to Tw$20.7 while Taiwan Semiconductor Manufacturing Co was 2.06% lower at Tw$142.5.
Wellington added 0.36%, or 21.08 points, to 5,919.94; telecom giant Spark was up 0.34% at NZ$2.98 and Contact Energy added 1.01% to NZ$5.98.
Manila ended flat, edging up 6.86 points to 7,877.96; Universal Robina was up 1.56% at 221.40 pesos and Metrobank was down 0.51% at 97.10 pesos but Energy Development Corp was up 0.24% at 8.51 pesos.
Kuala Lumpur lost 0.27%, or 5.05 points, to 1,813.37; Maybank fell 0.11% to 9.21 ringgit, Tenaga shed 1.80% to 14.20 ringgit, while Telekom gained 0.14% to 7.16 ringgit.
Jakarta ended up 0.52%, or 28.05 points, at 5,396.85; coal miner Bukit Asam gained 2.44% to 10,500 rupiah, while construction firm Wijaya Karya slipped 1.32% to 3,355 rupiah.
Bangkok ended flat, edging down 1.19 points, to 1,495.22; Siam City Cement plunged 6.04% to 358baht, while oil company PTT Exploration and Production dipped 1.79% to 109.50 baht.
Singapore rose 0.54%, or 18.51 points, to close at 3,450.10; Singapore Airlines climbed 1.44% to Sg$11.95 while Singapore Telecom advanced 1.38% to Sg$4.41.
US traders ran for the sidelines Thursday after Saudi Arabian jets targeted rebel positions as part of its support of Yemen’s president, who fled his presidential complex the previous day after it was attacked by a warplane.
Iran condemned the action by a Saudi coalition of regional nations, which has exacerbated longstanding Saudi-Iranian tensions. Saudi Arabia, the world’s top crude producer, also ramped up security along its borders and across the kingdom, including at oil facilities.
In New York the Dow eased 0.23%, the S&P 500 dropped 0.24% and the Nasdaq lost 0.27%.
The events sent oil prices racing higher Thursday as investors fretted about possible disruptions to supplies from the crude-rich region.
US benchmark West Texas Intermediate (WTI) jumped $2.22, or 4.5%, to $51.43 — its highest level in more than three weeks—while Brent jumped $2.71 to $59.19.
However, on Friday the two contracts retreated a touch. WTI was down $1.02 to $50.41 and Brent eased $1.19 cents to $58.00. “While we’ve got no actual supply disruption it’s pretty clear that the market is focused on the potential here, which is enormous,” Michael McCarthy, a chief markets strategist at CMC Markets in Sydney, told Bloomberg News.
“We’re likely to see a further increase in volatility as the price reacts to developments.”
The edginess has led dealers into safer investments, hitting the euro.
In afternoon trade the euro, which was above $1.10 in Tokyo Thursday, bought $1.0811 on Friday, compared with $1.0884 in US trade.
The single currency was also at ¥129.04 against ¥129.71 in New York.
The dollar was at ¥119.30, compared with ¥119.18 in New York late Thursday.
Gold fetched $1,198.77 against $1,205.54 late Thursday.
