South Korea Financial Markets

A currency trader watches monitors near a screen showing the Korea Composite Stock Price Index (KOSPI), top center, and the foreign exchange rate between U.S. dollar and South Korean won, top left, at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, May 28, 2026.

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Asian shares decline and oil prices up more than $1 after US strikes on Iran

Asian shares decline and oil prices up more than $1 after US strikes on Iran

Shares are mostly lower in Asia after the U.S. conducted what the military said were defensive strikes against Iran. Oil prices gained more than $1 a barrel and U.S. futures inched lower. U.S. officials said Central Command forces shot down four Iranian one-way attack drones near the Strait of Hormuz. The U.S. military also hit an Iranian ground control station in Bandar Abbas that was about to launch a fifth drone. On Wednesday, U.S. stocks inched to more records after oil prices declined more than 4%. The S&P 500 edged up by less than 0.1% and the Dow Jones Industrial Average rose 0.4%. The Nasdaq composite gained 0.1%. All three indexes set all-time highs.