Asia Markets: Asian markets slip as oil prices surge

Asian markets were largely down in early trading Tuesday as oil prices surged to nearly six-month highs after the U.S. said it would soon impose sanctions on all buyers of Iranian oil.

Japan’s Nikkei NIK, -0.04% was off 0.2%, while Hong Kong’s Hang Seng Index HSI, -0.10% was down about 0.1%. The Shanghai Composite SHCOMP, -0.35% slipped 0.8% and the smaller-cap Shenzhen Composite 399106, -0.87% dropped 1.4%. South Korea’s Kospi SEU, +0.03% was about flat, and benchmark indexes in Taiwan Y9999, +0.05% and Singapore STI, -0.16% pulled back slightly.

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