Asian stock markets slumped today (June 25th) following Wall Street’s biggest decline in two weeks and weighed down by the ongoing conflict in Iraq.
New reports of violence in the middle-eastern nation have emerged, including unconfirmed airstrikes by Syrian warplanes, which led investors to cash in their gains.
"The situation in Iraq is rattling investors and there's a risk of escalation if the US decides to intervene there. This is what triggered a sell-off in the last hour of trading on Wall Street," Montaigne Capital fund manager Arnaud Scarpaci told Reuters.
Japan’s Nikkei 225 slipped 0.71 per cent to 15,266.61, while Australia’s S&P/ASX 200 fell 0.6 per cent to 5,402.00 and Seoul gave up 0.63 per cent to close at 1,981.77.
Shanghai retreated 0.41 per cent to 2,025.50 and Hong Kong’s Hang Seng closed less than 0.1 per cent lower at 22,866.70.
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