BANGKOK (AP) – Asian stocks fell further Wednesday, with South Korea’s benchmark falling 8%, following the global stock sell-off that hit Wall Street. crude oil price I climbed higher.
worry about expanding war Relations with Iran have hit most world markets. Rising oil prices and how much they worsen inflation are among the central concerns for investors. A further rise in oil prices could put pressure on the global economy and take away corporate profits.
South Korea’s Kospi led regional losses, falling 8.1% to 5,321.38, triggering a trading halt. Energy security concerns have dashed optimism about the benefits big tech companies like Samsung Electronics and SK Hynix are reaping from expanding the use of artificial intelligence.
In the Tokyo market, the Nikkei Stock Average fell 3.4% to 54,346.73 yen. Japan, like South Korea, relies heavily on oil and natural gas imports from the Middle East, which are currently stranded in the Persian Gulf.
Elsewhere in Asia, Hong Kong’s Hang Seng Index fell 1.4% to 25,408.27, while the Shanghai Composite Index also fell 0.5% to 4,100.46.
In Australia, the S&P/ASX 200 fell 1.8% to 9,130.90.
Taiwan’s Tyex fell 2.9%.
On Tuesday, the S&P 500 closed down 0.9%, after falling as much as 2.5% on concerns about economic damage from the war. The Dow Jones Industrial Average limited its decline to 0.8%, and the Nasdaq Composite Index fell 1%.
Inflation may rise due to the effects of war. tie the hands of the federal reserve and prevent interest rate cuts. The Fed cut interest rates several times last year and signaled further cuts in 2026. That would help boost the economy and job market, but lower interest rates could also worsen inflation.
The US benchmark crude oil price rose 1.2% to $75.46 per barrel. Brent crude, the international standard crude, rose 1.5% to $82.61 per barrel.
The dollar was almost unchanged at 157.55 yen. The euro fell from $1.600 to $1.1599.
