Asian Stock Markets Volatile After Iran's Attack on Qatar, US Benchmark Indices Decline
Asian-Pacific stock markets moved fluctuatively at the opening of trading today, Friday, 20 March 2026. The volatility followed shocks in the United States (US) stock markets as investors offloaded assets from government bonds to shares and precious metals amid the Iran war.
Iran attacked the world’s largest gas factory in Qatar, causing energy supplies to be lost for several years ahead. This attack was in retaliation for Israel’s strike on the South Pars gas field.
CEO of QatarEnergy, Saad al-Kaabi, stated that Iran’s attack has eliminated 17 percent of the country’s LNG export capacity for three to five years. Retaliatory strikes on major oil and gas infrastructure across the Middle East caused energy prices to surge.
Brent crude oil prices rose 1.18 percent and closed at US$108.65, or approximately Rp1.83 million (estimated exchange rate of Rp16,900 per US dollar) per barrel on Thursday, 19 March 2026. Meanwhile, West Texas Intermediate (WTI) crude oil prices fell 0.19 percent to US$96.14, or approximately Rp1.62 million per barrel.
US President Donald Trump stated that he would not deploy ground troops in an effort to ease concerns. Meanwhile, Israeli Prime Minister Benjamin Netanyahu declared that Israel would refrain from repeating attacks on Iran’s energy facilities.
Countries allied with the US, including the UK, Canada, France, Germany, and Japan, issued a joint statement regarding their readiness to contribute to ensuring safe passage through the Strait of Hormuz.
Citing CNBC International, South Korea’s Kospi index strengthened by nearly 1 percent. The Kosdaq index, comprising small-capitalisation shares, recorded a gain of 0.94 percent.
Australia’s S&P/ASX 200 index eroded by 0.27 percent in early Asian trading. Hong Kong’s Hang Seng index also weakened to the level of 25,312.
The Japanese stock market was closed due to a national holiday.
In the US stock market, Wall Street, all three benchmark indices experienced corrections. The Dow Jones Industrial Average index fell 0.44 percent to 46,021.43 points.
The S&P 500 index weakened 0.27 percent to 6,606.49. The Nasdaq Composite dropped 0.28 percent to 22,090.69.