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Seoul shares tumbled 9% on Monday as investors dumped technology stocks, triggered by Middle East tensions and profit-taking. The KOSPI fell 669 points to 6,806.93, with a circuit breaker halting trading temporarily. The won weakened against the dollar.
Brent crude has risen sharply in recent sessions as US military strikes on Iran and renewed threats to shipping in the Strait of Hormuz unsettle energy markets. Multiple outlets report gains of roughly 4 to 5 percent on different days, alongside higher European gas prices and fresh US moves to levy charges on vessels. Iran’s Revolutionary Guards claimed attacks on US bases while Washington described its actions as responses to threats against commercial shipping.
Pakistani, Qatari and Egyptian negotiators held a fresh series of mediatory talks with the US and Iran to de-escalate tensions, as Iran maintains contact with regional countries and reaffirms its readiness to use all means to ensure its security. The efforts come amid ongoing airstrikes and a history of conflict since late February.
South Korean stocks fell sharply on Monday, with the KOSPI dropping 9 percent amid Middle East tensions and profit-taking in technology stocks. The won weakened against the dollar, and trading was briefly halted after a circuit breaker was triggered.
The Pakistan Stock Exchange began the week in the red, with the KSE-100 index falling more than 2,000 points intraday on Monday. The decline was attributed to renewed hostilities between the US and Iran, which also pushed oil prices higher, while refinery sector gains offered some support.
US Central Command has completed another wave of strikes against Iran, targeting military command centers, air defense systems, and missile and drone launch sites. The strikes follow an IRGC attack on a commercial ship in the Strait of Hormuz, with Iranian state media reporting civilian casualties and a vow of retaliation.
South Korean stocks have experienced volatile trading sessions late last week and this week, driven by escalating Middle East tensions and uncertainty over AI-related valuations. The KOSPI has swung between sharp losses and gains, with chipmakers leading declines.
The United States and Iran have exchanged multiple rounds of strikes this week, with Iran declaring the Strait of Hormuz closed and attacking commercial vessels. Oil prices spiked and markets plunged as shipping disruptions intensified, with the US insisting the waterway remains open.
Iraqi Prime Minister Ali al-Zaidi is set to visit Washington to meet President Donald Trump, with oil and gas agreements expected to be signed as part of a push for economic cooperation. The visit also addresses Iraq's efforts to balance ties with Iran and the US, amid military escalation and oil revenue losses.
As the Australian parliament enters its winter recess, Prime Minister Anthony Albanese reflects on a bold budget and recent diplomatic wins, while Labor's upcoming national conference in Adelaide will feature debates on AUKUS and other platform issues, highlighting internal party dynamics.
Pakistan has called on all sides in the US-Iran conflict to exercise restraint, following the collapse of a ceasefire and renewed attacks. Both Al Jazeera and Dawn report Pakistan's diplomatic efforts, including a call with Iran's foreign minister, amid fresh strikes.
The US launched a third round of airstrikes against an Iranian strike on a vessel in the Strait of Hormuz, hitting about 140 targets, while Iran responded by attacking several Gulf Arab states. Analysts describe a US shift toward eroding Iran's capacity to govern and finance its war effort, and a Tehran strategy of widening the battlefield.
US President Donald Trump said the Strait of Hormuz is open to commercial traffic, even as the US and Iran continue to trade attacks. US Central Command confirmed that traffic is flowing in the strategic waterway, while regional states like Oman and Qatar have reacted to the escalating tensions.
Fresh US military strikes on Iran prompted Tehran to announce the closure of the Strait of Hormuz and to attack targets in several Gulf states. The escalation follows Iran's strike on a container ship, and regional governments report interceptions and damage. US Central Command maintains that commercial traffic continues to flow through the strait.
Pakistan's Deputy Prime Minister and Foreign Minister Ishaq Dar has called for de-escalation and restraint as tensions between the US and Iran continue to rise, with fresh strikes exchanged. Dar engaged with Iranian and Saudi counterparts, emphasizing the importance of dialogue and the Islamabad MoU, signed in June 2026.
US Senator Lindsey Graham, a prominent Republican from South Carolina and a key ally of President Donald Trump, has died at 71 after a brief and sudden illness. Tributes have come from figures including Ukraine's president and the Rwandan government, as his death prompts political calculations ahead of midterm elections.
The US launched new strikes on Iran after President Donald Trump vowed to hit 'hard' following Iranian attacks on ships in the Strait of Hormuz. Iran's Revolutionary Guards said the strait would remain closed, while Gulf states sounded missile alerts and oil prices climbed. European foreign ministers condemned Iran's actions.
At the NATO summit in Ankara, President Trump oscillated between public criticism of allies and a warm private embrace, reaffirming Article 5 and offering Patriot missiles to Ukraine. Analysts see a deepened European defense commitment.
Iran's Islamic Revolutionary Guard Corps closed the Strait of Hormuz after striking a vessel on an unapproved route, prompting new US military strikes. A Cyprus-flagged container ship was damaged, a crew member is missing, and tensions escalate as the US demands Iran publicly halt attacks on shipping.
TASS reports multiple explosions across Iranian cities and islands, with CENTCOM confirming strikes against Iran. An IRGC serviceman was killed in a drone attack, and Iran has reportedly begun attacks on US targets.