investingLive Asia-pacific FX news wrap: Iran resume strikes, Korean stocks fall further

Asia-Pacific markets were risk-off as geopolitical tensions flared after reports that Iran fired ballistic missiles at a US base in Jordan, lifting crude oil and supporting safe-haven currencies. South Korea’s Kospi extended heavy losses, falling more than 8% after SK Hynix disappointed on revenues despite commentary that demand may stay strong through 2027. Australian inflation cooled to 3.8% y/y versus 4.0% expected, dampening the odds of an August rate hike and weighing on the Aussie. In broader markets, WTI crude jumped $3.10 to $82.36, US 10-year yields rose to 4.62%, and S&P 500 futures edged down 0.1%. Traders are now focused on the upcoming Fed decision and earnings from Meta and Microsoft, which could influence sentiment around the AI capex trade and memory-chip stocks.