US-Iran War Still Looms, Kospi Plunges Over 2%

Asian stock markets moved variably in trading on Tuesday morning (23/6/2026), amid easing market concerns over the United States (US) and Iran conflict and stabilising oil prices. Investors are monitoring the latest developments in the Middle East after signals of de-escalation in the conflict between the US and Iran emerged. This condition has also calmed the energy market, which had previously been volatile due to concerns over oil supply disruptions from the region. As of 08:42 WIB, stock indices in the Asian region showed mixed movements. Hong Kong’s Hang Seng rose 0.13%, and Australia’s ASX 200 added 0.04%. On the other hand, a number of major bourses remained in the red. The Shanghai Composite Index fell 0.23%, Japan’s Nikkei 225 weakened 0.27%, while South Korea’s Kospi was the worst performer with a decline of 2.05%. Market sentiment was also influenced by global oil price movements. After a sharp correction in previous trading, oil prices strengthened again as market participants continued to monitor the condition of energy distribution routes in the Middle East, particularly the Strait of Hormuz, a strategic global oil trade route. The easing of geopolitical tensions provided hope that global oil supplies would not be significantly disrupted. However, investors remain cautious given that the geopolitical situation in the region could still change at any time. The mixed movement of Asian bourses indicates that market participants are still weighing the impact of the US-Iran conflict on global economic growth and inflation, especially through the energy price channel. For the domestic market, oil price stabilisation could be a positive sentiment for the IHSG as it may ease concerns over inflationary pressures and energy costs. However, the weakening of several major Asian bourses signals that investors’ wait-and-see attitude remains quite strong at the start of trading today.