HONG KONG: Oil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh co...
An Israeli missile launched from the Iron Dome defence missile system attempts to intercept a rocket, fired from the Gaza Strip, over the city of Netivot in southern Israel on October 8, 2023. AFPPIX: Oil prices rallied while the dollar and yen advanced Monday after Hamas launched a shock attack on Israel at the weekend, sparking fresh concerns about tensions in the Middle East.
The surprise attack and Israel's declaration of war in response to it have left more than 1,000 dead and raised concerns that a potential broadening of the conflict could draw in the United States and Iran. Both main contracts surged more than five percent in early Asian business before easing back slightly.
“But with Middle East analysts considering this to be a pivotal moment for Israel, the view looks incendiary in any current scenario.” There were also losses in Sydney, Singapore, Manila and Wellington, though Sydney and Jakarta eked out gains. Tokyo was closed for a holiday while a typhoon forced Hong Kong to shut for the morning session.
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