Asia stocks slip as Iran tensions persist; Nikkei, KOSPI retreat from peaks
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Asian stock markets declined on Thursday, reversing early gains due to ongoing U.S.-Iran tensions, despite strong tech earnings. Japan's Nikkei 225 fell 1.1% to 58,952.1 points after reaching a record high, while South Korea's KOSPI dropped 0.5% to 6,384.29 points. SK Hynix reported significant earnings growth, boosting tech stocks. However, oil prices remained high amid supply concerns following Iran's seizure of vessels in the Strait of Hormuz. Other regional indices, including China's Shanghai Composite and Hong Kong's Hang Seng, also experienced declines.
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