Asian shares have mostly retreated and oil prices are higher after the U.S. launched fresh airstrikes against Iran, raising questions again over prospects for a permanent end to the war.
A currency trader talks on the phone near a screen showing the Korea Composite Stock Price Index and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, June 10, 2026.
Currency traders work near a screen showing the Korea Composite Stock Price Index and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, June 10, 2026. Currency traders pass by a screen showing the Korea Composite Stock Price Index and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, June 10, 2026.
A currency trader talks on the phone near a screen showing the Korea Composite Stock Price Index and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, June 10, 2026. early Wednesday following the crash of an Army helicopter near the Strait of Hormuz that President Donald Trump blamed on Iran.
Iran pledged to respond and said it “will leave no attack or threat unanswered. ”, which has lasted more than three months and further roiled markets already wavering from spates of heavy selling of stocks in companies linked to the boom in Brent crude, the international standard, rose 0.9% to $92.30 per barrel, after falling on Wednesday. It was trading at approximately $70 a barrel before the war in late February.
“The situation remains highly volatile,” ING commodities strategists Warren Patterson and Ewa Manthey wrote in a Wednesday note. “This once again demonstrates the difficulty Iran and the U.S. face in working toward a sustainable ceasefire that allows for the free flow of vessels through the Strait of Hormuz. ”U.S. futures edged lower following losses for chipmakers including Micron Technology, Advanced Micro Devices, or AMD, and Marvell Technology during U.S. trading.
South Korea’s Kospi gave up 4.7%, to 7,720.59, after surging the day before. Samsung Electronics, which makes memory and logic chips and is the country's most valuable company, sank 5.8%. Shares of chipmaker SK Hynix plummeted 6.3%. Tokyo’s Nikkei 225 dropped 1.4% to 64,524.84 after data showed Japan’s producer price index, a measure for prices at the wholesale level, rose 6.3% in May from a year before.
That's the fastest pace in more than three years. Shares of multinational investment holding firm SoftBank Group, which has a strong AI focus, lost 8.9%. But chipmaker Tokyo Electron advanced 5.3%. Hong Kong’s Hang Seng fell 1.1% to 24,296.62, while the Shanghai Composite index slipped 0.7% to 3,980.24.
Official data on Wednesday showed that China’s producer prices rose to nearly a four-year high of 3.9% in May compared with a year earlier. Taiwan’s Taiex was trading 1.6% lower, while India’s Sensex climbed 0.6%. On Tuesday, Wall Street’s benchmark S&P 500 fell 0.3% to 7,386.65. The Dow Jones Industrial Average added 0.2% to 50,872.11, and the technology-heavy Nasdaq composite dropped 1% to 25,678.82.
U.S. chipmaker Micron Technology went from an early 4% gain to a 10% drop before closing 1.4% lower. Shares of Marvell Technology sank 7.6%, and AMD sank 3%. In other dealings, the U.S. dollar was steady at 160.36 Japanese yen. The euro was trading at $1.1550, up from $1.1543.
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