This is CNBC’s live blog covering Asia-Pacific markets.
Asia-Pacific markets slipped Monday as traders weighed the impact of Iran’s drone attack on Israel over the weekend, with focus also on key economic data from China and Japan later in the week.
Iran launched more than 300 drones and missiles against military targets in Israel on Saturday in an attack that President Joe Biden described as “unprecedented.”
The U.S. intervened to directly help Israel shoot down nearly all of the incoming munitions, Biden said in a statement Saturday.
Oil prices were little changed on Monday morning, with Brent crude futures trading 0.02% up at $90.47 per barrel and U.S. West Texas Intermediate futures 0.13% lower at $85.55.
India will release its wholesale inflation figures for March later in the day, while China will announce its first quarter GDP numbers on Tuesday. Japan will release its March trade data and inflation numbers on Wednesday and Friday, respectively.
Japan’s Nikkei 225 fell 1.28% on open, while the broad-based Topix was down 0.97%.
South Korea’s Kospi fell 0.92%, while the small-cap Kosdaq dropped 1.58%.
In Australia, the S&P/ASX 200 saw a smaller loss compared to other Asian markets, down 0.14%.
Futures for Hong Kong’s Hang Seng index stood at 16,476, pointing to a weaker open compared to the HSI’s close of 16,721.69.
U.S. stock futures ticked higher Sunday as investors assessed Iran’s missile and drone strike on Israel, as well as a spike in equity market volatility that sent the Dow Jones Industrial Average to its worst week of the year last week.
Futures tied to the Dow Jones Industrial Average rose 90 points, or 0.2%. S&P 500 futures added 0.2% and Nasdaq-100 futures advanced 0.3%.
Gold futures pulled back slightly at $2,373 an ounce. Bullion hit a record level last week and is up 15% this year as investors seek safety from sticky inflation and geopolitical tensions.
— CNBC’s Hakyung Kim contributed to this report.
Japan machinery orders in February surpass expectations
Japan’s core machinery orders beat expectations by a large margin in February, rising 7.7% month on month compared with the 0.8% rise expected by economists polled by Reuters.
However, on a year-on-year basis, core machinery orders were down 1.8%, a smaller drop than the 6% decline forecast in the Reuters poll.
Core machinery orders are a highly volatile data series, regarded as a leading indicator of capital spending in Japan.
— Lim Hui Jie, Reuters
CNBC Pro: A top Nvidia shareholder reveals his trigger for selling growth stocks
Nvidia’s shares have been on a tear this year, up more than 80% in 2024, but one of its top shareholders has revealed why they’ve been selling the stock.
Raj Shant, managing director at the investment firm Jennison Associates, told CNBC Pro that the firm has been selling its position in the AI chip maker to manage risk despite remaining optimistic about its long-term prospects.
CNBC Pro subscribers can read more about Jennison’s reasons.
— Ganesh Rao
Oil prices fall slightly after Israel fends off large-scale aerial attack by Iran
U.S. crude oil futures were slightly lower Sunday as traders breathed a sigh of relief after Israel fended off a large-scale air assault by Iran and the U.S. emphasized it wants to avoid a wider war in the Middle East.
The West Texas Intermediate contract for May lost 34 cents to $85.32 a barrel as trading began Sunday evening. June Brent futures eased slightly to $90.18 a barrel. U.S. crude closed at $85.66 a barrel Friday, while the global benchmark settled at $90.45. WTI futures began the year around $71 a barrel.
Iran launched more than 300 drones and missiles against military targets in Israel on Saturday in an attack that President Joe Biden described as “unprecedented.” Though significant in scale, the Iranian attack caused little actual damage in Israel.
— Spencer Kimball
Cryptocurrencies fall on increased Middle East tensions
Bitcoin and other cryptocurrencies sold off heavily Saturday night after Iran launched an unprecedented drone and missile attack on Israel.
As of Sunday evening, Bitcoin was trading near $65,000. It managed to rebound partially from its losses on Saturday, when it fell below $62,000 from around $70,000. This marked the steepest sell off for bitcoin in over a year.
Other coins like ether also saw heavy selling, down by up to 10% in some cases.
— Hakyung Kim, Matt Clinch
First direct attack on Israel from Iranian territory Saturday
Iran fired 300 drones and missiles toward Israel on Saturday night in retaliation for a suspected Israeli strike killing top Iranian officials in Syria. The strike was the first direct attack on Israel from Iranian territory.
The Israeli government said it identified 300 types of drones and missiles, and managed to intercept “99%” of those bound for Israeli territory, per an Israel Defense Forces spokesperson.
— Hakyung Kim