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India Opens Lower, Korea KOSPI Drops 11% Amid $87 Brent

7/29/2026

35 7 Full Breakdown

Summary

Story summary

India’s equity benchmarks will open lower on July 29 as risk-off sentiment and higher crude prices weigh on market.
MSCI Asia-Pacific index fell 1% while South Korea’s KOSPI slid over 11% to its lowest level.
SK Hynix shares dropped 9% despite a sixfold rise in quarterly operating profit.
Brent crude rose to $87 per barrel after Middle-East attacks, leading investors to await earnings and Federal Reserve (Fed) decision with 33% chance.

History

Historical Context

In October 1973 OAPEC, led by Saudi King Faisal, imposed an oil embargo on the United States and other Israel-supporting nations. The embargo drove crude prices from about $3 to nearly $12 per barrel—a 300% jump—and sent the New York Stock Exchange down 12% that November. That shock shows why today’s Sensex, KOSPI and SK Hynix sell-offs echo the same risk-off reaction to sudden energy spikes.

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Story summary

India’s equity benchmarks will open lower on July 29 as risk-off sentiment and higher crude prices weigh on market.
MSCI Asia-Pacific index fell 1% while South Korea’s KOSPI slid over 11% to its lowest level.
SK Hynix shares dropped 9% despite a sixfold rise in quarterly operating profit.
Brent crude rose to $87 per barrel after Middle-East attacks, leading investors to await earnings and Federal Reserve (Fed) decision with 33% chance.

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