Asia-Pacific markets slide as oil spikes
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- Oil prices rose more than 2% on Wednesday, with West Texas Intermediate closing at $96.02 per barrel and Brent at $97.81, before falling about 1% on Thursday.
- Japan's Nikkei 225 slipped 1.77% after hitting a record high the previous session, while the Topix declined 1.33%.
- South Korea's Kospi fell 1.24% as the small‑cap Kosdaq rose 2.61% after a holiday break.
- SoftBank Group dropped over 11.04% after selling a 3.25% stake in Indian eyewear company Lenskart Solutions via a block deal.
- U.S. Central Command reported defeating multiple Iranian ballistic missiles and drones and launching self‑defense strikes on Qeshm Island, while Israeli Prime Minister Benjamin Netanyahu warned Iran that Israel and U.S. forces are ready to strike again.
Why it matters: Investors see higher energy costs and inflation risk, while Asian exporters and consumers face tighter margins; SoftBank’s stake sale triggers a sharp stock decline, hurting shareholders.
