📈 Global Markets Shaken by Middle East Escalation; Oil Surges Past $92

• Market Summary: Asian equities faced a broad sell-off on Wednesday following U.S. airstrikes against Iran. MSCI’s Asia-Pacific index dropped 0.6%, Japan's Nikkei fell 0.9%, and South Korea's KOSPI slumped 2%. U.S. futures and tech stocks also faced pressure amid AI valuation concerns and rising geopolitical risks. • Energy & Commodities: Crude oil prices climbed roughly 1% on fears of potential supply route disruptions. Brent crude futures rose 0.9% to US$ 92.29 a barrel, while U.S. WTI crude increased 0.8% to US$ 88.97 a barrel. • Inflation & Interest Rates: Investors await U.S. inflation data, with economists predicting a 4.2% YoY increase for May—the largest annual CPI rise since April 2023. Sticky inflation and a tight jobs market have led traders to fully price in a 25-basis-point Federal Reserve rate hike for December, reversing prior expectations of interest rate cuts. • Global & Regional Impact: High oil prices and a firm U.S. dollar are pressuring emerging markets, forcing Bank Indonesia into a surprise off-cycle interest rate hike to defend its currency. Meanwhile, Japan's wholesale inflation accelerated at its fastest pace in three years, paving the way for a Bank of Japan rate hike next week. _Note: This summary is based on provisional market data._