South Korea Financial Markets

Asia markets index of Japan, South Korea and Australia is seen on a screen 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.