Jul 12, 2026 – 3.51pmMarkets have been thrust back into uncertainty after US President Donald Trump threatened to shower Iran in missiles and Tehran said it was closing the key Strait of Hormuz again until further notice.Before the escalation in the Middle East, the Australian sharemarket was set for a solid start on Monday following decent gains on Wall Street as investors piled into South Korean chipmaker SK Hynix, which jumped more than 13 per cent on its New York debut.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles
ASX to climb, but gains may be capped by Trump’s latest Iran threat
Futures were pointing to a solid 0.4 per cent rise on Monday morning for the ASX, but that was before the US president threatened to “shower” Iran in missiles.
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