Asian equities fell as technology shares extended losses and the AI trade continued to wobble. Oil rose as Middle East tensions escalated after US forces struck Iran.
6:09 PMBloomberg Markets9 stories from 4 sources
Iran-driven oil shock tests currencies, rates, and risk appetite
Day’s Recap
Supporting Articles
Oil has held near $100 a barrel despite tensions around Iran because the biggest supply shocks have not materialized and markets are pricing disruption risk rather than actual outages. The result is persistent energy-driven inflation pressure even as global growth momentum softens.
4:05 PMAl JazeeraIndonesia’s central bank delivered an unexpected off-cycle rate hike to defend the rupiah after a selloff in local stocks and bonds accelerated capital outflows. Officials are prioritizing currency stability over near-term growth support as global funding conditions tighten.
1:32 AMBloomberg MarketsJapan’s 30-year government bond auction drew the weakest demand since June 2025 after a drop in yields reduced investor interest. Inflation worries and uncertainty over fiscal policy further weighed on long-end sentiment.
11:39 PMBloomberg Markets6:09 PMBloomberg Markets
Tech Stocks Sink as Oil Jumps on US-Iran Jitters: Markets Wrap
Summary
Asian equities fell as technology shares extended losses and the AI trade continued to wobble. Oil rose as Middle East tensions escalated after US forces struck Iran.
Why it matters
Simultaneous tech weakness and energy strength is a classic risk-off mix that can spill into rates, FX, and credit quickly.
4:05 PMAl Jazeera
Iran conflict: Why has oil stayed near $100 a barrel?
Summary
Oil has held near $100 a barrel despite tensions around Iran because the biggest supply shocks have not materialized and markets are pricing disruption risk rather than actual outages. The result is persistent energy-driven inflation pressure even as global growth momentum softens.
Why it matters
Oil near $100 extends inflation risks and slows growth, shaping rate paths, consumer costs, and near-term market volatility.
1:32 AMBloomberg Markets
Indonesia Delivers Shock Rate Hike to Reverse Market Selloff
Summary
Indonesia’s central bank delivered an unexpected off-cycle rate hike to defend the rupiah after a selloff in local stocks and bonds accelerated capital outflows. Officials are prioritizing currency stability over near-term growth support as global funding conditions tighten.
Why it matters
An off-cycle hike is a credibility play that can stabilize the currency but spreads the cost across borrowers, equities, and the growth outlook.
11:39 PMBloomberg Markets
Japan’s 30-Year Bond Sale Draws Weakest Demand Since June 2025
Summary
Japan’s 30-year government bond auction drew the weakest demand since June 2025 after a drop in yields reduced investor interest. Inflation worries and uncertainty over fiscal policy further weighed on long-end sentiment.
Why it matters
Cracks in Japan’s long-bond demand can transmit into global rates via higher term premiums and tighter financial conditions.
Other Developments
A curated list of other prominent stories from this day.
China’s factory gate prices are rising at the fastest pace in four years as energy input costs jump. The shock is tied to supply disruption risks after fighting involving Iran curbed flows through the Strait of Hormuz.
10:29 PMFinancial TimesA sharp rally in South Korean equities is pulling in first-time retail investors in a country long dominated by property as the default wealth engine. The surge is reshaping household participation in markets and inflows into local stocks.
9:54 PMAl JazeeraEnergy-importing countries are shifting policy toward domestic supply and self-sufficiency as the Iran war increases volatility and exposes dependence on global oil and gas markets.
11:06 AMThe New York TimesEmerging-market equities posted their biggest gain in two months, led by South Korea, as investors bought beaten-down AI-related shares after Monday’s selloff. EM currencies also strengthened as the Iran-Israel pause in hostilities reduced immediate geopolitical risk.
4:52 AMBloomberg MarketsChina’s crude oil imports fell to the lowest level in more than eight years as the Iran war disrupted supply and Beijing did not rush to secure replacement barrels. The drop suggests refiners and policymakers are absorbing the shock through inventories, lower runs, or demand weakness rather than bidding up the spot market.
12:06 AMBloomberg Markets10:29 PMFinancial Times
China factory gate prices rise at fastest rate in 4 years
Summary
China’s factory gate prices are rising at the fastest pace in four years as energy input costs jump. The shock is tied to supply disruption risks after fighting involving Iran curbed flows through the Strait of Hormuz.
Why it matters
A China-led pickup in producer inflation can transmit cost pressure into global goods prices just as markets are pricing rate cuts.
9:54 PMAl Jazeera
South Korea’s booming stock market mints generation of novice investors
Summary
A sharp rally in South Korean equities is pulling in first-time retail investors in a country long dominated by property as the default wealth engine. The surge is reshaping household participation in markets and inflows into local stocks.
Why it matters
A retail influx can extend the rally, but it also increases the economic and political fallout if Korean equities correct.
11:06 AMThe New York Times
The Iran War is Forcing Energy-Importing Countries to Turn Inward
Summary
Energy-importing countries are shifting policy toward domestic supply and self-sufficiency as the Iran war increases volatility and exposes dependence on global oil and gas markets.
Why it matters
Energy security policy shifts can reset inflation paths and industrial competitiveness, reshaping markets well beyond the current conflict.
4:52 AMBloomberg Markets
Emerging Assets Stage Comeback as Dollar Weakens Ahead of CPI
Summary
Emerging-market equities posted their biggest gain in two months, led by South Korea, as investors bought beaten-down AI-related shares after Monday’s selloff. EM currencies also strengthened as the Iran-Israel pause in hostilities reduced immediate geopolitical risk.
Why it matters
A tech-led EM bounce paired with firmer EM FX signals a quick return to risk, which can change near-term positioning and capital flows across emerging markets.
12:06 AMBloomberg Markets
China’s Oil Imports Plunge to Eight-Year Low on War Disruptions
Summary
China’s crude oil imports fell to the lowest level in more than eight years as the Iran war disrupted supply and Beijing did not rush to secure replacement barrels. The drop suggests refiners and policymakers are absorbing the shock through inventories, lower runs, or demand weakness rather than bidding up the spot market.
Why it matters
China’s import pullback can cap oil prices in the short run, but it increases the odds of a later catch-up surge that re-tightens the market.
Make it yours
Build Your First Pass.
Pick your topics, set your cadence, and receive your personalized First Pass in your inbox. It’s that simple!