UBS, JP Morgan see little Asian market impact from US-Iran tensions

Lebanon's Hezbollah supporters chant slogans during a funeral ceremony rally to mourn Qassem Soleimani, head of the elite Quds Force, who was killed in an air strike at Baghdad airport, in Beirut's suburbs, Lebanon, January 5, 2020. REUTERS/Aziz Taher

SINGAPORE: Escalating friction between the U.S. and Iran will likely have limited impact on Asian stock markets, according to UBS Global Wealth Management and JPMorgan Asset Management.

Following the U.S. airstrike that killed Iran’s top military commander Qassem Soleimani last week, Iran said it will no longer abide by any limits on its enrichment of uranium and Iraq’s parliament voted to expel U.S. troops from the country.