Asian stock indices fall as Brent oil tops $104

Asian stock indices closed lower on 8 October 2026 as crude oil prices surged amid tensions in the Middle East, intensifying concerns over global inflation and rising sovereign bond yields. Brent crude jumped around 4% to surpass $104 per barrel, driven by supply risks following Yemeni Houthi attacks against targets in Saudi Arabia and a report from The Atlantic stating that the White House asked the Pentagon for strike options against Iran before the November midterm elections.

South Korea's Kospi led regional losses, tumbling 2.62% to 6,625.93 points in a shortened session ahead of a holiday. Chipmakers Samsung Electronics and SK Hynix weighed on the Seoul market, each declining 2.4%.

Japan's Nikkei fell 1.42% to 69,042.11 points in Tokyo, while Hong Kong's Hang Seng declined 1.43% to 23,785.70 points. Taiwan's Taiex slid 0.99% to 49,313.44 points. In mainland China, markets reopened following a week-long holiday and ended lower: the Shanghai Composite fell 0.79% to 3,811.90 points, and the Shenzhen Composite lost 1.63% to 2,365.35 points. In Oceania, Australia's S&P/ASX 200 lost 0.77% to close at 8,660.90 points.

The surge in oil complicates monetary policy for major central banks. Since the conflict began in late February, the Federal Reserve and the Bank of Japan have each raised interest rates once, while the European Central Bank has implemented two rate increases.