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Asian stocks fell on October 30 amidst growing concerns over the prolonged Iran War following the Houthi rebels' entry into the Middle East conflict and increased U.S. troop deployment, leading to a surge in oil and aluminum prices.

Intensified Middle East Conflict and Asian Stock Decline

Concerns over a prolonged Iran War escalated as Yemen's Houthi rebels, an pro-Iranian armed group, joined the Middle East conflict and thousands of U.S. troops arrived in the region. Consequently, Asian stock markets broadly declined on October 30. South Korea's KOSPI index briefly plunged by 5.3%, and the Nikkei 225 also saw a temporary 5.3% drop. This was partly influenced by the ex-dividend date for companies with March and September fiscal year-ends. The MSCI Asia Pacific Index, a benchmark for Asian equities, fell 1.9% to its lowest point this year. Rising oil prices also fueled worries about their potential to curb economic growth.

Surge in Oil and Commodity Prices Amid Prolonged War Outlook

Brent crude oil briefly rose by 3.7% to $116.75 per barrel, while aluminum prices on the London Metal Exchange (LME) surged by approximately 6%. This increase is attributed to an attack by Iranian missiles and drones on the Middle East's largest aluminum producer. The Trump administration's deployment of thousands of troops to the Middle East has raised concerns about a potential U.S. ground troop intervention. The Wall Street Journal reported, citing U.S. officials, that the Trump administration is considering military operations to transport uranium out of Iran. Market experts analyze that the escalating risk of a prolonged Iran War is dismantling previous optimism and paving the way for new market scenarios.

*Source: TBS NEWS DIG (2026-03-30)*

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