United News of Bangladesh

Oil prices remained largely unchanged Tuesday after rising 5% in the previous session, as uncertainty continued over when the Strait of Hormuz might reopen and allow crude shipments to resume normally. US stock futures edged higher in early trading. Brent crude was unchanged at $87.72 a barrel, while US benchmark West Texas Intermediate also remained flat at $82.13 a barrel. Brent prices jumped 5% Monday after fluctuating sharply in recent weeks amid uncertainty over whether the United States and Iran could reach an agreement that would allow oil tankers to leave the Middle East freely and supply global markets. Asian stock markets were mixed Tuesday after US shares moved lower from their recent record highs. South Korea's Kospi rose 1.5% to 6,391.71, helped by a 4.6% gain in Samsung Electronics shares. Chipmaker SK Hynix also advanced 1.3%. Tokyo markets remained closed for a public holiday. Hong Kong's Hang Seng Index fell 0.6% to 25,773.56, while the Shanghai Composite slipped 0.1% to 3,964.79. Australia's S&P/ASX 200 gained 0.5% to 9,277 after the Reserve Bank of Australia kept its benchmark interest rate unchanged at 4.35%. Taiwan's Taiex rose 0.4%, while India's Sensex declined 0.4%. On Wall Street Monday, the S&P 500 fell 0.1% from Friday's record high. The Dow Jones Industrial Average also lost 0.1%, while the Nasdaq composite declined 0.3%. The strong US stock market rally has recently slowed despite robust corporate earnings. According to FactSet, earnings per share for S&P 500 companies are expected to have risen about 50% in the spring from a year earlier. If confirmed, it would mark the strongest growth in five years. Berkshire Hathaway rose 1.5% after reporting stronger-than-expected quarterly profit. The company, which is known for investing in stocks it considers attractively priced, also said it had invested part of its large cash reserves in stocks under new CEO Greg Abel. MarineMax surged 46.1% after the retailer and marina operator agreed to be acquired for about $1.5 billion in cash by a Blackstone portfolio company. Varex Imaging jumped 48.8% after Teledyne Technologies announced plans to acquire the X-ray imaging components maker for $18.90 per share in cash. Intel shares, however, fell 4.1% after the company said it could sell up to $15 billion worth of stock. The move could reduce existing shareholders' ownership stakes, while the company said the proceeds would likely be used to invest in artificial intelligence technology. Investors are now focusing on Wednesday's US inflation report for July. Economists expect annual inflation to ease to 3.4% from 3.5% in June, which could reduce pressure on the Federal Reserve to raise interest rates. Higher interest rates can help control inflation but may also slow economic growth by increasing borrowing costs for households and businesses. They can also put pressure on stock and other investment prices. In currency trading early Tuesday, the US dollar slipped to 159.19 Japanese yen from 159.30 yen. The dollar has continued to strengthen against the yen despite recent intervention by Japan and the US aimed at supporting the Japanese currency. The euro was unchanged at $1.1544. Gold, which is often considered a safe-haven asset during periods of uncertainty, rose 1.2% to $4,472.90 an ounce.

Asian shares were mixed on Monday after US stocks ended last week higher, with Japan's Nikkei 225 leading gains. Oil prices also rose amid concerns over tensions in the Middle East and threats to key shipping routes. US stock futures were little changed. In Tokyo, the Nikkei 225 rose 2% to 66,890.02, helped by strong gains in technology stocks. Tokyo Electron, which makes equipment for chip production, gained 3.5%, while chip-testing equipment maker Advantest jumped 4.9%. South Korea's Kospi rose 0.8% to 6,305.86, although major chipmakers fell. Samsung Electronics dropped 0.9% and SK Hynix declined 1.3%. Analysts said some foreign investors were selling shares in major technology companies to take profits after recent gains and shift money into other sectors, including defense companies. Hong Kong's Hang Seng Index gained 0.6% to 25,810.95, while China's Shanghai Composite was almost unchanged at 3,941.48. Australia's S&P/ASX 200 fell 0.4% to 9,231.00. Taiwan's Taiex rose 1.8%, while India's Sensex gained 0.1%. Oil prices climbed amid renewed concerns over the Middle East. Israel rejected a Gaza deal announced by US President Donald Trump, while details also emerged about a possible agreement between Iran and Oman concerning the Strait of Hormuz. Iran has suggested that vessels linked to countries it considers hostile could be barred from using the strategic waterway. Meanwhile, Yemen's Iran-backed Houthi rebels attacked a government-controlled port on the country's Red Sea coast, raising further concerns about the safety of shipping routes and the possibility of renewed conflict in Yemen. Brent crude, the international benchmark, rose 0.6% to $84.04 a barrel, while US benchmark West Texas Intermediate crude gained 0.5% to $78.58 a barrel. Wall Street ends week higherUS stocks gained on Friday after government data showed employers unexpectedly cut 23,000 jobs last month. The weaker jobs figures raised expectations that the Federal Reserve could delay raising interest rates as it tries to control inflation. The news helped push all three major US indexes to their second consecutive weekly gains, with the S&P 500 reaching another record high. The S&P 500 rose 0.6% to 7,757.64, while the Dow Jones Industrial Average gained 0.3% to 54,036.93. The Nasdaq Composite jumped 1.3% to 26,690.62. The jobs report also raised concerns about household spending as inflation remains high. The government revised its figures for May and June, reducing the combined number of jobs reported for those months by 103,000. Slower job growth makes it more difficult for the Federal Reserve to balance supporting employment with controlling inflation. Higher interest rates can reduce inflation by slowing economic activity, but they can also make borrowing more expensive for businesses. Technology companies again led the gains. Nvidia rose 2.3%, while Broadcom gained 1.7%. The yield on the 10-year US Treasury note fell to 4.64% from 4.67% before the jobs report. The two-year Treasury yield, which is more closely linked to expectations for Federal Reserve policy, dropped to 4.20% from 4.22%. Inflation data in focusInvestors will closely watch several inflation reports this week, particularly the consumer price index (CPI). US consumer inflation is expected to have risen 3.4% in July, slightly slower than the 3.5% increase recorded in June. Inflation has remained above 3% for most of the year. In early Monday trading, the US dollar rose to 158.37 Japanese yen from 157.71 yen. The euro fell to $1.1553 from $1.1568.

Asian stocks were mixed on Friday after US shares pulled back in the previous session, while oil prices climbed more than 1% amid continued uncertainty over the reopening of the Strait of Hormuz. Japan's Nikkei 225 fell 0.3% to 65,500.10, while South Korea's Kospi declined 0.8% to 6,242.88. Taiwan's Taiex also dropped 0.4%. In contrast, China's Shanghai Composite rose 0.8% to 3,931.54 after the country reported that exports increased by around 24% in July. Although growth slowed slightly, demand remained strong for electronics and other high-tech products. China's trade surplus narrowed during the month, while imports also eased. Hong Kong's Hang Seng edged up 0.2% to 25,582.34, while Australia's S&P/ASX 200 slipped less than 0.1% to 9,265.20. On Wall Street, stocks fell Thursday as higher oil prices and a stream of corporate earnings weighed on investors. The S&P 500 declined 0.2%, the Dow Jones Industrial Average dropped 0.9% and the Nasdaq composite lost 0.1%. Brent crude jumped nearly 4% Thursday as uncertainty continued over efforts to reopen the Strait of Hormuz, a key route for global oil supplies. Iran has said it is nearing an agreement with Oman on reopening the strategic waterway, while US President Donald Trump has also previously indicated that a deal could be close. However, negotiations have faced repeated setbacks over the past five months. A reopening could require a compromise, as the Trump administration has rejected any Iranian plan to charge fees to ships. Iran, meanwhile, has insisted on retaining some control over the waterway. Early Friday, Brent crude, the international benchmark, rose 1.6% to $83.78 a barrel, while US benchmark crude gained 1.2% to $78.22. About one-fifth of the world's traded oil and natural gas previously passed through the Strait of Hormuz. Oil prices have climbed as high as $113 a barrel during the conflict, increasing inflationary pressure by raising fuel and shipping costs. Markets remain concerned about the war and the possibility of an investment bubble linked to artificial intelligence. However, stronger-than-expected corporate earnings have eased some worries that US stocks may be overvalued. About 85% of S&P 500 companies have reported their latest earnings, with overall profit growth on track to be the strongest since 2021. Warner Bros. Discovery gained 1.7% after posting better-than-expected earnings, while Molson Coors rose 1.3% following encouraging results. Honeywell Aerospace was among the biggest losers, falling 23.2% after its results came in well below expectations. Digital advertising company AppLovin dropped 19.7% after reporting mixed quarterly results. Meanwhile, SpaceX shares rose 6.1% after a lockup period expired Thursday, making more than 911 million shares held by early investors and employees eligible for sale. That figure is more than twice the number of shares initially offered to the public in the company's initial public offering. SpaceX shares climbed as high as $225 following its market debut in June but have since fallen below the initial offering price of $135. The stock was trading around $115. Investors are also awaiting the US monthly jobs report for July, due Friday. The US labour market remains relatively strong, although hiring growth has slowed. A weekly report released Thursday showed applications for unemployment benefits increased last week, though layoffs remained at historically low levels seen in recent years. Employers added only 57,000 jobs in June. In early Friday trading, the US dollar slipped to 158.35 Japanese yen from 158.42 yen, while the euro was unchanged at $1.1524.

Asian stocks were mixed Tuesday after Wall Street rallied, while oil prices recovered some of their losses following a sharp drop a day earlier. Investors were also assessing the impact of last week’s joint intervention by the United States and Japan to support the Japanese yen, analysts said. Japan’s benchmark Nikkei 225 fell 0.3% to 63,585.58. The US dollar rose slightly to 157.51 yen from 157.18 yen, while the euro was trading at $1.1511, little changed from $1.1514. The dollar had been trading around 160 yen before authorities stepped in to strengthen the Japanese currency after it had fallen close to a 40-year low. Some analysts questioned how effective the intervention would be in the long run, saying it does not address the underlying economic factors driving currency movements, including inflation, interest rates and differences in economic strength. A report by BMI, a unit of Fitch Solutions, said US backing gives the intervention stronger influence than action by Tokyo alone and could make speculators more cautious. However, it said the size of any US contribution would likely be limited. Matthew Ryan, head of market strategy at financial services firm Ebury, said the latest move could have a greater impact because it appears to signal a broader change in monetary policy rather than a one-off effort to defend the yen. "This is an historic and meaningful development for the yen," he said, adding that it has strengthened confidence in the currency’s prospects. South Korea’s Kospi dropped 1.3% to 6,174.72, while Australia’s S&P/ASX 200 rose 1.2% to 9,129.00. Hong Kong’s Hang Seng declined 0.5% to 25,881.99, while the Shanghai Composite edged up 0.2% to 3,802.61. Investors also remained cautious about sharp swings in chipmaker stocks. Such shares have moved up and down in recent weeks amid concerns over whether strong revenues driven by the artificial intelligence boom can continue. On Wall Street, stocks rose strongly Monday as falling oil prices eased some concerns about inflation. The S&P 500 gained 1.5%, leaving it just 0.1% below its record high reached earlier this summer. The Dow Jones Industrial Average climbed 693 points, or 1.3%, to a record high, while the Nasdaq composite jumped 2.1%. In early Asian trading Tuesday, US benchmark crude rose 84 cents to $81.18 a barrel, while Brent crude, the international benchmark, gained $1.15 to $84.92 a barrel. Oil prices had plunged more than 5% a day earlier after US President Donald Trump said over the weekend that he had decided to delay new strikes against Iran following appeals from regional allies. Brent crude prices swung between $72 and $102 a barrel last month as concerns about the Iran war and the movement of oil tankers through the Persian Gulf changed. The yield on the 10-year US Treasury note fell to 4.68% from 4.75% late Friday. However, it remained well above the 3.97% level recorded before the war with Iran.

Asian stock markets traded mixed on Monday after the United States and Japan confirmed they had intervened to support the Japanese yen, pushing the currency to its strongest level against the US dollar since late last year. The yen strengthened after US President Donald Trump and Japanese officials confirmed they had stepped into the currency market last week to slow the dollar's sharp rise. The dollar fell to as low as 155.20 yen, compared with nearly 164 yen last week. A weaker yen usually benefits Japanese exporters by increasing the value of their overseas earnings when converted into yen. However, it also raises the cost of imports such as oil and raw materials, adding pressure on Japan's economy. The euro edged up slightly to $1.1533 from $1.1528. Oil prices dropped sharply after Trump said he would instruct US forces not to carry out attacks on Iran, saying an agreement to end the conflict in the Middle East was close. US benchmark crude fell 4.8% to $80.58 a barrel in early trading, while Brent crude, the international benchmark, dropped 5% to $83.87 a barrel. In Asian markets, Japan's Nikkei 225 index fell 1.9% to 63,140.68, while South Korea's Kospi dropped 4.5% to 6,298.75. The Kospi had surged 17.9% on Friday, its biggest single-day gain on record, after heavy losses earlier in the week. Shares of Samsung Electronics and SK Hynix, which had jumped more than 25% on Friday, fell 8% and 7.8%, respectively, in early Monday trading. Hong Kong's Hang Seng index rose 0.6% to 26,038.92, while China's Shanghai Composite index slipped 0.5% to 3,812.97. Australia's S&P/ASX 200 declined 0.2% to 8,961.30, while Taiwan's Taiex gained 0.7%. On Friday, US stocks ended a volatile July on a positive note. The S&P 500 gained 0.7%, the Dow Jones Industrial Average rose 0.5%, and the Nasdaq Composite advanced 1%. Wall Street has experienced sharp swings in recent weeks due to rising oil prices linked to the Iran conflict and investor concerns over whether heavy spending on artificial intelligence will generate enough profits to justify soaring technology stock prices. Amazon led Friday's rally, jumping 15.3% after reporting quarterly earnings that far exceeded analysts' expectations. The company said profits more than tripled from a year earlier, helped by strong growth in its cloud computing business. It also raised its investment outlook, suggesting its AI spending is beginning to deliver results. Microsoft saw a similar market reaction a day earlier after reporting signs that its AI investments were also boosting profits. Chipmakers remained volatile. Micron Technology erased an early gain of 6.4% to end the day down 5.9%. Apple, however, fell 7.4% despite reporting better-than-expected quarterly earnings. Investors were disappointed by its weaker revenue forecast, which the company attributed to supply shortages of key components amid strong AI-related demand.

Asian stock markets ended mixed on Wednesday after a strong performance on Wall Street, as investors weighed gains in technology shares against concerns over rising oil prices and inflation. Japan's Nikkei 225 slipped 0.2% to close at 66,115.60. Government data showed both imports and exports increased compared with a year earlier, helped by the weaker yen, which boosted the value of trade when converted from US dollars. Australia's S&P/ASX 200 rose 0.3% to 8,823.00, while South Korea's Kospi gained 0.7% to 6,797.70. Hong Kong's Hang Seng Index fell 1.1% to 24,866.67, and China's Shanghai Composite edged down by less than 0.1% to 3,861.82. Wall Street closed higher overnight, driven by renewed buying of technology stocks linked to artificial intelligence (AI). The S&P 500 gained 0.9%, the Dow Jones Industrial Average rose 385 points, or 0.7%, and the Nasdaq Composite advanced 1.3%. AI-related shares rebounded for a second straight session after suffering heavy losses last week amid concerns that their prices had risen too quickly. Micron Technology jumped 12.2%, building on the previous day's gains after a sharp decline last week. Nvidia also rose 2%, with both companies among the biggest contributors to the S&P 500's advance. However, higher oil prices continued to worry investors as tensions between the United States and Iran persisted. In early Wednesday trading, US benchmark crude oil rose $1.67 to $86.01 a barrel, while Brent crude, the international benchmark, climbed $1.84 to $92.85 a barrel. Stephen Innes, a market analyst and former trader, said higher oil prices pose a particular challenge for Japan, which relies heavily on imported energy. "A weaker yen and rising crude oil prices are putting extra pressure on the Japanese economy at the same time," he said. In currency trading, the US dollar was little changed at 163.13 Japanese yen, while the euro strengthened slightly to $1.1409. Analysts say rising oil prices could push inflation higher again after recent signs of easing. That may prompt the US Federal Reserve and other central banks to keep interest rates higher for longer or raise them further, a move that could slow economic growth and weigh on global stock markets.

Global stock markets showed mixed performance on Wednesday after a broad sell-off in major technology stocks spread from Asia to Wall Street, while oil prices fell amid signs of progress in talks between the United States and Iran. U.S. stock futures were mixed as investors closely watched market movements, particularly in Japan and South Korea, where stock markets had surged in recent months on the back of the artificial intelligence (AI) boom but faced sharp declines on Tuesday. In Europe, Britain’s FTSE 100 slipped 0.1% to 10,417.97 in early trading. Germany’s DAX dropped 0.8% to 24,687.18, while France’s CAC 40 gained 0.2% to 8,355.36. Asian markets delivered a mixed picture. South Korea’s Kospi index rebounded 3.3% to 8,471.02 after plunging 10% a day earlier. Shares of memory chipmaker SK Hynix rose 1%, while Samsung Electronics jumped 9.8% after suffering a 12.3% decline on Tuesday. Japan’s Nikkei 225 fell 0.9% to 69,174.97, extending losses after a 3.6% drop in the previous session. Taiwan’s Taiex index, heavily influenced by technology stocks, declined 2.2%. Hong Kong’s Hang Seng Index edged up 0.3% to 23,412.18, while China’s Shanghai Composite Index gained 0.1% to 4,110.81. Australia’s S&P/ASX 200 added 0.2% to 8,808.40. The weakness in Asian markets followed losses on Wall Street, where the benchmark S&P 500 fell 1.4% on Tuesday. The tech-focused Nasdaq Composite dropped 2.2%, while the Dow Jones Industrial Average slipped 0.1%. Technology and semiconductor stocks led the decline in the United States. Chipmaker Micron Technology tumbled 13.2%, while AI giant Nvidia lost more than 4%. James Reilly, senior markets economist at Capital Economics, said the sharp swings highlighted growing volatility in technology stocks, especially in South Korea, where retail investors are playing a larger role in the market. Meanwhile, oil prices declined as more ships resumed crossing the Strait of Hormuz and negotiations aimed at reaching a permanent end to the Iran conflict appeared to make progress. Analysts at ING said market movements suggest investors expect oil supplies from the Persian Gulf to recover relatively quickly. However, they noted that shipping traffic through the strategic waterway remains below pre-conflict levels. Brent crude, the international oil benchmark, fell 1.6% to $75.57 per barrel. Although it has remained below $80 in recent days, prices are still higher than the roughly $70 per barrel level seen before the conflict began. U.S. benchmark crude dropped 1.8% to $71.92 per barrel. Investors are now awaiting Thursday’s release of the U.S. personal consumption expenditures (PCE) price index for May, the inflation measure most closely watched by the Federal Reserve. Many economists expect the Fed to keep interest rates unchanged this year, although concerns about inflation, partly driven by global energy market disruptions, have kept bond yields elevated. In currency trading, the U.S. dollar rose to 161.74 Japanese yen from 161.55 yen, while the euro weakened to $1.1347 from $1.1382.

Asian stock markets posted strong gains on Friday while oil prices fell after US President Donald Trump said progress had been made in efforts to end the Iran war, boosting investor confidence across global markets. US stock futures also moved slightly higher following sharp gains on Wall Street. South Korea's Kospi index surged 7.8 percent to 8,370.82, recovering much of the losses linked to recent sell-offs in artificial intelligence-related stocks. The benchmark index has nearly doubled over the past six months, though it remains below its record closing high reached on June 2. Shares of Samsung Electronics jumped 11.2 percent, while chipmaker SK Hynix gained 7.2 percent. Japan's Nikkei 225 advanced 3.5 percent to 66,442.95, led by technology stocks. SoftBank Group rose 2 percent and semiconductor equipment manufacturer Tokyo Electron soared 10.3 percent. Hong Kong's Hang Seng index climbed 1.8 percent to 24,689.32, while China's Shanghai Composite gained 1.6 percent to 4,050.51. Australia's S&P/ASX 200 rose 1.9 percent to 8,798.10. Taiwan's Taiex added 2.6 percent and India's Sensex increased 1.2 percent. Investor sentiment improved after Trump said on Thursday that he had cancelled planned military strikes against Iran and claimed the United States had reached a significant understanding to end the conflict. He also suggested that an extension of the fragile ceasefire between the two sides could be agreed within days, although he provided few details. Markets had come under pressure earlier this week as tensions between Washington and Tehran intensified. Rising oil prices have fueled inflation concerns worldwide, particularly as the Strait of Hormuz, a crucial route for global oil and gas shipments, remained largely closed. Analysts at ING said there appeared to be more encouraging signs surrounding a possible agreement this time, although they cautioned that any ceasefire extension remained uncertain and could still prove fragile. Oil prices retreated as hopes for a diplomatic breakthrough increased. Brent crude, the international benchmark, fell 1.7 percent to $88.87 per barrel, while US benchmark crude dropped 1.6 percent to $86.33 per barrel. Both remained significantly above pre-war levels of around $70 a barrel. On Thursday, Wall Street recorded broad-based gains. The S&P 500 rose 1.8 percent to 7,394.30, the Dow Jones Industrial Average climbed 1.9 percent to 50,848.75, and the Nasdaq Composite gained 2.5 percent to 25,809.66. Technology and AI-related stocks have experienced heightened volatility in recent days amid concerns that rapid share price increases and heavy investment spending could signal a market bubble. Marvell Technology jumped 11.1 percent, while Oracle fell 8.5 percent despite reporting stronger-than-expected quarterly earnings, as investors worried about its growing spending commitments. Investors were also watching the highly anticipated Wall Street debut of SpaceX, Elon Musk's rocket company, which is expected to become the largest initial public offering on record with plans to raise about $75 billion. In currency trading, the US dollar strengthened to 160.22 Japanese yen from 159.93 yen, while the euro slipped slightly to $1.1574 from $1.1578.

Asian stock markets fell on Thursday as tensions rose following fresh US military strikes on Iran, which Washington described as defensive actions. At the same time, oil prices climbed by more than $2 per barrel after dropping sharply in the previous session, while US futures also edged lower. US officials said Central Command forces shot down four Iranian attack drones near the Strait of Hormuz. They also struck a drone control facility in Bandar Abbas that was preparing to launch another drone. These strikes came after earlier military actions earlier in the week. US President Donald Trump said Iran is “negotiating on fumes” and insisted that upcoming US elections would not influence his approach to ending the ongoing conflict, now in its third month. Asian markets under pressure In early trading, Japan’s Nikkei 225 fell 0.4%, while South Korea’s Kospi also dropped 0.4%. Hong Kong’s Hang Seng Index declined 1.4%, and China’s Shanghai Composite edged up slightly by 0.1%. Australia’s S&P/ASX 200 slipped 1.4%, while Taiwan’s main index also recorded losses. Analysts said uncertainty around US–Iran negotiations and the fragile ceasefire continued to weigh on investor confidence. “Markets remain cautious as it is still unclear whether a lasting deal can be reached,” said Tan Boon Heng of Mizuho Bank. He added that while both sides appear to avoid escalating tensions publicly, major disagreements remain unresolved. Oil prices rebound Oil prices, which had dropped sharply earlier in the week, rose again on renewed concerns over supply risks in the Middle East. Brent crude gained more than $2 to around $94 per barrel in early trading, while US crude also moved higher. Earlier, oil had fallen after hopes that a ceasefire between the US and Iran might hold, easing fears over disruptions in the Strait of Hormuz — a key global oil shipping route. Wall Street at record highs On Wednesday, US stock markets had closed slightly higher, with all three major indexes — the S&P 500, Dow Jones Industrial Average, and Nasdaq — reaching record levels. Shares of airlines and cruise companies rose as falling oil prices earlier in the week boosted expectations of lower fuel costs. Despite ongoing geopolitical uncertainty and inflation concerns, strong corporate earnings have helped support market gains. Currency movements In currency trading, the US dollar held steady against the Japanese yen, while the euro slipped slightly.

Asian stock markets mostly fell on Monday while oil prices surged after US President Donald Trump warned that “the clock is ticking” for Iran as efforts to reach a lasting agreement to end the conflict remain stalled. US stock futures also moved lower, with major indexes losing more than 0.6 percent. Japan and South Korea pulled back further after recent record highs. Japan’s Nikkei 225 dropped 0.9 percent to 60,843.09, led by losses in technology shares. The index had touched a record intraday high above 63,000 last week. The yield on Japan’s 10-year government bond rose to 2.8 percent, its highest level since the late 1990s, as the Bank of Japan gradually raises interest rates and higher energy prices fuel inflation concerns. In South Korea, the Kospi gained 0.9 percent to 7,558.50 after recovering from earlier losses. The index had crossed 8,000 on Friday, driven by strong demand for technology stocks linked to the artificial intelligence boom, before easing on profit-taking. Hong Kong’s Hang Seng Index fell 1.6 percent to 25,543.32, while China’s Shanghai Composite slipped 0.1 percent to 4,132.24 after weaker-than-expected retail sales data for April. Australia’s S&P/ASX 200 lost 1.4 percent to 8,508.40. Taiwan’s Taiex declined 1.1 percent, and India’s Sensex was down 0.6 percent. Oil prices climbed sharply after Trump said in a social media post that Iran should act quickly or “there won’t be anything left of them,” following a phone call with Israeli Prime Minister Benjamin Netanyahu. Investors remain cautious because of uncertainty over the Strait of Hormuz, a key route for global oil and gas shipments. The waterway remains largely closed, while the US has maintained a maritime blockade on Iranian ports since last month. Tensions increased further after a weekend drone attack on a nuclear power plant in the United Arab Emirates. Brent crude, the international benchmark, rose 1.9 percent to $111.31 per barrel. US benchmark crude gained 2.3 percent to $107.83 per barrel. Oil had been trading near $70 a barrel in late February before the conflict began. Analysts at ING Group said the risk of renewed escalation is increasing, despite some improvement in shipping activity around the Strait of Hormuz. The oil market is also reacting to the lack of progress following last week’s summit in Beijing between Trump and Chinese President Xi Jinping. The White House said both countries agreed that the Strait of Hormuz must remain open. Washington had hoped Beijing could use its close economic ties with Tehran to help broker a peace deal. In the bond market, the yield on the US 10-year Treasury note rose to about 4.63 percent, up from 4.47 percent last Thursday and nearly 4 percent before the conflict began. On Friday, the benchmark S&P 500 fell 1.2 percent from the record high it set a day earlier. The Dow Jones Industrial Average dropped 1.1 percent, while the Nasdaq Composite lost 1.5 percent. In currency trading, the US dollar rose to 159.02 Japanese yen from 158.62 yen. The euro edged up to $1.1626 from $1.1622.