Asian markets tumble amid rising oil supply fears

October 13, 2026 (MLN): Asian markets traded lower on Tuesday, with South Korea’s Kospi suffering the steepest losses as renewed fears of oil supply disruptions pushed crude prices above $106 per barrel following a deadly attack on a Saudi airport.

South Korea’s Kospi plunged 3.29% at the open, while the small-cap Kosdaq dropped 2.49%. Japan’s Nikkei 225 declined 1.20% after trading resumed following a holiday, while the Topix remained largely unchanged. Australia’s S&P/ASX 200 slipped 0.33%.

The selling pressure followed a sharp decline in regional equities, with the Kospi falling more than 6% in the previous session to below 6,000, its lowest level since July 31.

Japan’s Nikkei 225 lost 2.63%, the Topix declined 0.49%, and Australia’s benchmark index fell 0.29%. Hong Kong’s Hang Seng futures also pointed to a weaker start, according to CNBC.

Oil prices remained a key concern for investors after renewed fears of supply disruptions drove Brent crude above $106 per barrel. The concerns intensified following Saturday’s deadly attack on a Saudi airport, which killed 12 people and injured more than 300.

Meanwhile, U.S. stock futures were largely subdued overnight as investors prepared for a busy corporate earnings schedule. S&P 500 futures slipped around 0.1%, while Nasdaq-100 futures fell 0.2%. Dow Jones futures edged up 17 points.

Major U.S. banks, including JPMorgan Chase, Goldman Sachs, Citigroup and Wells Fargo, were scheduled to report quarterly results before Tuesday’s market opening. UnitedHealth was also due to release its earnings, with the results expected to provide fresh insight into corporate performance and the broader economic outlook.

S&P 500 companies’ profits are expected to rise nearly 30% from the same period last year, according to FactSet. Investors are expected to focus on bank earnings for indications of consumer and business conditions, technology companies’ ability to generate returns from artificial intelligence, and the sustainability of energy-sector profits amid elevated oil prices.

Market participants will also assess U.S. existing-home sales data and comments from Federal Reserve officials Christopher Waller, Tom Barkin and Susan Collins. September inflation figures due later this week could further influence Treasury yields, which have recently climbed to multidecade highs.

Wall Street ended Monday on a mixed note, with the Dow Jones Industrial Average gaining more than 195 points, while losses in memory stocks dragged the Nasdaq Composite and S&P 500 lower.

Copyright Mettis Link News