Public Markets 3d Briefing
×Market Performance
Asian markets plunged dramatically bloomberg.com in their worst performance in nearly a year, with South Korean stocks experiencing their biggest two-day drop since the 2008 financial crisis. The KOSPI slid over 11% investing.com, triggering a temporary trading halt as panic swept through trading desks. Thailand's benchmark stock gauge plunged 8% bloomberg.com, also triggering a trading suspension. Meanwhile, UAE stocks tumbled bloomberg.com as trading resumed following a two-day closure aimed at protecting markets amid the US-Israeli attacks on Iran.
Geopolitical Impact
The escalating conflict with Iran has pulled Gulf states bloomberg.com deeper into the war, with Saudi Arabia, Qatar and the UAE suffering attacks on non-military targets. Tehran has struck US embassies in Riyadh and Dubai, while air routes remain disrupted. The Middle East tensions have sapped investor sentiment bloomberg.com across the region, with real estate executives warning that deals are at risk from the crisis. President Trump bloomberg.com has expressed concern the strikes against Iran could lead to a new leadership equally troubling to Washington.
Currency and Commodity Movements
Oil prices investing.com have extended their rally as Middle East tensions threaten supply, with Brent futures trading at the biggest premium to the Dubai marker since 2022. Asian liquefied natural gas soared bloomberg.com to a three-year peak, while diesel prices across the globe surged bloomberg.com to multi-year highs. In currency markets, India's rupee fell to a record low bloomberg.com, while Asian currencies slipped further as oil prices spiked. The Japanese yen departed ft.com from its traditional role as a haven asset during geopolitical turmoil.
Corporate Developments
Adidas wsj.com has extended CEO Bjoern Gulden's contract until late 2030, with the company also forecasting higher profits this year and market share gains through 2028. The German brand looks to maintain momentum with retro sneakers and new running and football products. Elsewhere, Alibaba investing.com shares slid after the Qwen AI team lead unexpectedly quit, while Samsung investing.com shares fell further after a report of US chip production delays. Nidec Corp. bloomberg.com shares surged as investors bet on a rebound from a scandal.
Economic Outlook
JPMorgan bloomberg.com views the Iran conflict as a "modest macro-economic shock" unlikely to derail global expansion, though Barclays bloomberg.com expects markets to be down for a bit amid tensions. In Japan, Bank of Japan Governor Kazuo Ueda bloomberg.com warned the Middle East conflict could have a major impact on the nation's economy. In China, factory activity contracted investing.com in February, while a private gauge showed broad expansion. Australia's GDP hit a 3-year high investing.com in Q4, growing more than expected.