Asian equities retreat as South Korea's Kospi slumps; oil extends rally
AI Market Summary
Risk-off sentiment hit Asia as South Korea's Kospi fell over 6% and Japan's Nikkei dropped more than 3%, led by sharp semiconductor losses (SK Hynix -8.4%). Oil extended gains with Brent above $85 after renewed U.S. strikes on Iran heightened Middle East supply-disruption risk. While Australia and New Zealand bonds rallied on softer inflation and reduced Fed hike expectations, geopolitics dominated near-term positioning.
Impact level
● High
Affected assets
NCSINIKKEI2252USD/USDT-2.27%
AI Insight · NCSINIKKEI2252USD/USDTAI Insight
▼ Bearish
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Asian stocks moved lower, led by a sharp selloff in South Korea. The Kospi dropped more than 6% in a single session, while Japan's Nikkei 225 slid over 3%. The MSCI Asia Pacific Index fell 1.7%.
SK Hynix tumbled 8.4%, weighing on the broader semiconductor sector.
In commodities, Brent crude rose for a fourth straight day, pushing back above $85 a barrel. The gains followed a fresh round of U.S. airstrikes on Iran, stoking concerns over potential energy supply disruptions in West Asia.
Australian and New Zealand government bonds strengthened as cooler inflation data tempered expectations for further Federal Reserve rate hikes, though escalating geopolitical tensions continued to dominate market sentiment.
