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Asian stocks slip as Iran and Oman seek Strait of Hormuz route

The Nikkei is down more than 1% and the KOSPI more than 4%, while WTI is near $75 a barrel after swings in energy prices tied to the shipping talks.

Reported · Written up by our desk · Trade & Tariffs

Asian equities fell on Thursday morning after investors took profits following a recent AI-led rally, with Japan's Nikkei 225 down over 1% and South Korea's KOSPI down more than 4%, LiveMint Markets reports. Hong Kong's Hang Seng also fell, dropping more than 1.5%.

Overnight, US benchmarks closed mixed, with the Dow Jones Industrial Average rising 0.49% to a record close, the S&P 500 slipping 0.17%, and the Nasdaq Composite declining about 0.83%.

Markets also tracked developments around the Strait of Hormuz, where Iran and Oman reached an understanding on geographic coordinates for a proposed shipping route, raising hopes commercial traffic could normalize. LiveMint Markets notes that key details remain under discussion and the arrangement does not yet ensure security, leaving markets exposed to new headlines.

Oil prices were steady near $75 a barrel for WTI after a volatile session, a move that provided some relief to India's inflation outlook, import costs, and corporate input expenses, according to LiveMint Markets. The energy decline also eased some pressure on global bond yields, though crude stays sensitive to negotiations and to a restoration of shipping flows through the strait.

Latest closeWTI crude $75.12 ▼0.9%|S&P 500 7,723.55 ▼0.2%|Nasdaq Comp. 26,363.44 ▼0.8%

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