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Asian Equities Mixed over Iraq Concerns

Asian equities opened mixed on Tuesday as jitters over Iraq overshadowed a positive U.S. lead.

Militants from the Islamic State of Iraq and the Levant (ISIL) took control of another town on Monday, Saqlaqiya, west of Baghdad, with the help of allied Sunni tribesmen. Government army officials also reported fighting south of the capital city. The U.S. has ruled out any coordinated military action with Iran, although officials confirmed that they held talks over the situation on Monday.

U.S. stocks managed to reverse losses overnight, ending mildly higher for a second session on upbeat economic reports. May industrial production increased a monthly 0.6 percent, home builder sentiment surged in June and the New York Federal Reserve’s Empire State index of business conditions in June rose to a four-year high.

CNBC [1]

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