Shares retreat as techs extend losses, US strikes on Iran lift oil

Asian stocks fell on Thursday, weighed down by a Wall Street selloff after a hotter-than-expected U.S. inflation reading, while renewed US strikes on Iran fuelled a rise in oil prices. MSCI’s broadest index of ​Asia-Pacific shares outside Japan was down 0.9%, led by a 3% drop in South Korea’s ‌KOSPI. S&P 500 e-mini futures were 0.3% lower. The United States began a fresh round of strikes against multiple targets in Iran, the US military said on Wednesday, hours after President Donald Trump vowed new attacks if no peace deal is secured. ​Iran announced the closure of the Strait of Hormuz in response.