U.S. Strikes in Iran Pull Asian Markets Lower
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- U.S. forces launched new strikes on a military site in the Strait of Hormuz that was perceived as a threat to U.S. troops and commercial shipping.
- Iran's Islamic Revolutionary Guard Corps claimed it hit a U.S. air base in retaliation for the U.S. attack near Bandar Abbas airport.
- Kuwait activated its air‑defence systems after reporting hostile missile and drone threats.
- West Texas Intermediate crude futures rose 4.03% to $92.25 per barrel, while Brent crude gained 3.92% to $97.99 per barrel.
- Asian equity indexes fell sharply: South Korea's Kospi down 3.26%, Japan's Nikkei 225 down 1.19%, Australia's S&P/ASX 200 down 1.51%, China's CSI 300 down 0.55%, and Hong Kong's Hang Seng down 2.22%.
Why it matters: Asian investors lose as equity indexes tumble up to 5%, while oil producers gain from price spikes to $92 a barrel; higher energy costs will pressure consumer bills and travel‑related businesses.
