Asia Markets Rise Amid US-Iran Tensions
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- U.S. Navy destroyer fired on an Iranian‑flagged cargo ship in the Gulf of Oman, then boarded and seized the vessel, escalating the blockade.
- Iran closed the Strait of Hormuz, delaying Indian shipments and heightening regional tension.
- West Texas Intermediate crude surged 6.49% to $89.29 per barrel, while Brent rose 6.34% to $96.12 per barrel.
- S&P 500 futures fell 0.8% after the index closed at a record 7,126.06, crossing the 7,100 threshold for the first time.
- South Korea’s Kospi index rose 0.44% after SK Hynix announced mass production of next‑gen AI server memory for Nvidia’s Vera Rubin platform.
Why it matters: Oil producers gain as WTI jumps 6.49% to $89.29, boosting revenue, while Indian exporters lose from Hormuz delays, and investors see S&P 500 record highs lift portfolio values, but higher energy costs pressure growth forecasts.
