Asian stocks were poised to track Wall Street lower even after a late rebound trimmed a broader selloff, as US assurances on securing shipping through the Strait of Hormuz helped steady nerves. Equity-index futures for Tokyo and Hong Kong pointed to losses and Australian shares tumbled 1.4% at the open. That came after the S&P 500 closed down 0.9% after earlier slumping as much as 2.5%.

President Donald Trump said the US will escort and insure tankers and other vessels through the world's most-critical energy chokepoint, a measure meant to head off a potential crisis. Trump's comments helped oil pare advances and gold to drop during the US session. Both commodities edged higher in early Asian trading on Wednesday. West Texas Intermediate crude traded near $75 a barrel. The yield on 10-year Treasuries climbed three basis points to 4.06%, while the dollar rose for a second consecutive day.

Attention in Asia will also be on South Korea's stocks and currency. The benchmark Kospi index sank 7.2% on Tuesday in its worst session since August 2024, as the market reopened after a holiday. The South Korean won also slid to its weakest level since 2009. European natural gas spiked to a three-year high, which may lift prices in Asia as the regions compete for liquefied natural gas cargoes.