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Bloomberg
Escalating friction between the US and Iran will likely have limited impact on Asian stock markets, according to UBS Global Wealth Management and JPMorgan Asset Management.
Following the US airstrike that killed Iran’s top military commander Qassem Soleimani last week, Iran said it will no longer abide by any limits on its enrichment of uranium and Iraq’s parliament voted to expel US troops from the country.
The MSCI Asia Pacific Index fell as much as 1.1% Monday, as traders returned from holidays. The impact was especially pronounced in Japan, where the stock market reopened after a four-day holiday to find a much stronger yen. Oil and gold continued to climb.
The geopolitical crisis added a new angle for money managers and advisers looking for direction on 2020 after a global rally that pushed the Asian equity benchmark up 16% last year. Here’s what market participants are saying about the impact of the Middle East situation on their strategies.