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Asian Markets Retreat as Iran Tensions Lift Oil and Cloud Risk Appetite

By Rebecca Hsu on May 28, 2026 1:12 pm |

Asia Market, Asia News and Development & Sustainability

Hong Kong, 28 May 2026 – Asia-Pacific markets traded mostly lower on Thursday as renewed tension around the US-Iran conflict lifted oil prices, strengthened safe-haven demand and kept investors cautious after recent gains in global equities.

The softer regional tone followed reports of fresh hostilities in the Gulf, which raised concerns that the conflict could again disrupt energy flows through the Strait of Hormuz. The renewed uncertainty pushed crude prices higher, with Brent crude rising above US$96 per barrel as traders reassessed the possibility of a lasting ceasefire.

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Author

  • Rebecca Hsu is a Senior Economist and Lead Analyst for The Ledger Asia, focusing on the rapidly evolving financial landscapes of East and Southeast Asia. With a background in sovereign risk assessment and emerging market trends, Rebecca provides sharp commentary on trade dynamics, monetary policy, and the digital economy's impact on regional growth.

    Formerly a strategic advisor for major financial institutions in Hong Kong, she excels at translating complex macroeconomic shifts into actionable insights for investors and policymakers. Her work at The Ledger Asia centers on China’s economic transition and the burgeoning manufacturing hubs of ASEAN, ensuring readers stay ahead of Asia’s shifting financial tides.

Published in Asia Market, Asia News and Development & Sustainability

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