Asian markets today: Nikkei, Kospi crash up to 4% as US-Iran war escalates, crude oil prices rise
Asian markets today: Japanese government bond (JGB) yields also climbed on inflation concerns. The benchmark 10-year JGB yield rose 1 bp to 2.690%. The 30-year yield added 2 bps to 3.870%.
Asian markets traded lower on Thursday, following overnight losses on Wall Street, as investors remained cautious amid escalation of the US-Iran war, and rising inflation concerns due to elevated crude oil prices.
Japan’s Nikkei 225 declined 0.44% to 63,896.82, weighed by a selloff in chip-related stocks. The benchmark fell as much as nearly 3% earlier in the session, slipping below the 63,000 level for the first time since May 22. The Topix dropped 0.85% to 3,814.97.
Japanese government bond (JGB) yields also climbed on inflation concerns. The benchmark 10-year JGB yield rose 1 bp to 2.690%. The 30-year yield added 2 bps to 3.870%.
South Korea’s Kospi fell 0.62% to 7,682.53, recovering from an over 4% slump during the session, while the Kosdaq was flat.
Hong Kong’s Hang Seng rose 0.2% to 24,468.82, but the Shanghai Composite index fell 0.2% to 3,983.80. Taiwan’s Taiex slipped 0.4%.
US-Iran War
The US-Iran war in the Middle East escalated after the latest US’ strikes on multiple locations in Iran, with President Donald Trump vowing to “hit them hard” as the peace talks to end the war faltered, endangering the fragile truce that had calmed the tense West Asia.
The US has called it a self-defense strike, while Iran has reported explosions near the Strait of Hormuz, Qeshm, Kargan and Sirik.
The latest attacks in the Middle East lifted crude oil prices, raising inflation concerns. Iran also declared the critical energy chokepoint, the Strait of Hormuz, closed.
Brent futures gained 1.57% to $94.56 a barrel, while US West Texas Intermediate (WTI) crude rallied 1.89% to $91.73 a barrel. US crude futures gained more than $3 earlier in the session.
Overnight in the US, Wall Street indices ended sharply lower, weighed down by extended selling in chipmaker shares.
The Dow Jones Industrial Average plunged 953.33 points, or 1.87%, to 49,918.78, while the S&P 500 dropped 119.66 points, or 1.62%, to 7,266.99. The Nasdaq Composite closed 509.32 points, or 1.98%, lower at 25,169.50.
About the Author
Ankit Gohel is the Deputy Chief Content Producer at Livemint, specialising in financial markets, macroeconomics, and regulatory developments. With a strong focus on equity markets, primary issuances, and policy-driven market movements, he brings clarity to complex financial developments for investors and market participants. <br><br> With nine years of experience in business and financial journalism, Ankit’s approach is rooted in the belief that market reporting should go beyond headlines — connecting data, policy, and ground realities to deliver actionable insights. His work consistently bridges the gap between institutional analysis and investor understanding. <br><br> Ankit has spent three years at Livemint, where he currently helps drive market coverage, editorial strategy, and high-impact financial stories. Prior to this, he worked with leading business news networks such as CNBC-TV18, ET Now, TickerPlant News Service where he built deep expertise in stock market analysis, macroeconomic trends, primary markets, and coverage of key regulators including the RBI and SEBI. <br><br> Over the years, he has covered market cycles across bull and bear phases, IPO booms, liquidity shocks, and major policy shifts that reshaped investor sentiment. He has interviewed fund managers, corporate leaders, and policymakers, translating their perspectives into sharp, data-backed narratives. Ankit combines speed with accuracy — ensuring timely, credible, and insight-driven financial journalism that empowers both retail and institutional audiences.
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