Public Markets 8-Hour Briefing
×Market Rout Deepens
South Korean stocks plunged 12% in the worst-ever one-day drop for the Kospi index as the Iran conflict roiled Asian markets. India's rupee fell to a record low, pressured by soaring oil prices and regional contagion fears. Indonesian authorities intervened to support the rupiah, joining India in defending currencies as emerging markets sold off. UAE stocks tumbled when trading resumed after a two-day closure, reflecting continued Gulf anxiety.
Energy Supply Shocks
Oil prices extended their rally past $90 per barrel even as the U.S. announced plans to escort tankers through the Strait of Hormuz. Asian LNG surged to a three-year peak after Qatar's major export plant shutdown and shipping disruptions. European gas remains elevated due to severe Middle East supply woes, raising competition for LNG cargoes. Coal prices also rose on renewed energy security concerns.
Currency & Policy Pressure
The Swiss franc dilemma persists as inflation holds near zero, increasing pressure on the SNB to avoid negative rates. Japan's yen weakened despite its traditional haven status, with the BOJ warning the conflict could significantly impact the economy. Singapore faces higher power bills if Qatar's LNG outage is prolonged, highlighting Asia's vulnerability. The pound fell as the FTSE 100 prepared to rebound after a selloff.
Corporate Earnings & Moves
Adidas targets sales growth and market-share gains through 2028, extending CEO Bjørn Gulden's contract until 2030. Bayer reported a wider net loss, hit by €3.55 billion in litigation charges, and sees flat 2026 profits. Dassault Aviation edged higher after 2025 sales beat, bolstered by strong Falcon jet demand. Woolworths warned of a slowdown in its Australian apparel business and increased investment in South African food.
Regional Impact & Trade Flows
Myanmar will restrict private vehicle use to conserve fuel as Middle East shipping disruptions threaten supplies. China is expected to lean more on Russian oil to offset Iran supply shocks. Goldman Sachs lifted its oil price forecast citing Hormuz disruptions and lower inventories. Foreign investors bought the most Indonesian stocks in four months, a rare bright spot as regulators enhance market access.