US-Iran Conflict Raises Peace Talk Doubts, Asian Stocks Mostly Down

US-Iran War Key News

(Central News Agency, Hong Kong, May 8, comprehensive foreign report) The United States and Iran exchanged fire in the Strait of Hormuz yesterday, impacting hopes for ending the war and reopening the Strait of Hormuz, leading to most Asian stocks closing lower today.

According to AFP, growing optimism that the 10-week Middle East conflict was nearing an end had driven strong performance in global stock markets this week.

However, news yesterday of US forces launching airstrikes against Iranian military targets in response to attacks on three US Navy destroyers threatened the ceasefire agreement, which had only lasted one month, thereby curbing market risk appetite.

The Khatam Al-Anbiya Central Headquarters of the Iranian military operations command accused the US of violating the ceasefire agreement, stating that US forces attacked an oil tanker and another vessel.

US President Donald Trump posted on his social media platform "Truth Social": "If they don't sign a deal soon, we will hit them harder and stronger in the future!"

Trump told reporters that the ceasefire was still in effect and tried to downplay the exchange of fire. According to a reporter's social media post, Trump said it was "just a little touch." Iranian state media also reported that the situation had returned to normal after the airstrikes.

In Asian stock markets, Tokyo, Hong Kong, Taipei, Sydney, Wellington, and Manila all closed lower, while Seoul saw a slight gain; Shanghai remained largely unchanged from the previous day.

Chris Weston, an analyst at Australian financial services company Pepperstone Group, stated: "Geopolitical news once again proves that the path to a lasting agreement is fraught with difficulties." He added that traders have been forced in recent days to reconsider assumptions about the evolving situation and the resumption of normal shipping in the Strait of Hormuz.

Investors are also awaiting US labor market data, expected tonight, hoping to gain insight into the impact of the war and rising prices on the economy. (Compiler: Hong Qi-yuan) 1150508

Stand with facts, your every sponsorship is the power to protect press freedom.

Download the Central News Agency "First-hand News" APP to stay updated with the latest news.

The text, images, and videos on this website may not be reproduced, publicly broadcast, or publicly transmitted and used without authorization.