1. Major Asian stock indices, including KOSPI, STAR50, and Nikkei, saw sharp declines, with KOSPI plummeting nearly 8% and Chinese tech/semiconductor indices also significantly pressured.
2. Brent crude oil prices fell to their lowest since February ($70.47), driven by UBS cutting its price forecasts due to increased supply from Iran.
3. The Japanese Yen extended its weakness, prompting government official Nagahama to advocate for continued moderate BOJ rate hikes to correct excessive currency depreciation.
Asian Markets Plummet, Brent Hits Multi-Month Low, Yen Weakens Further
