Most Asian stocks fell further on Tuesday as hostilities between the U.S., Israel, and Iran showed few signs of ceasing, with South Korean markets leading losses in catch-up trade after a long weekend.
The Fed's concerns quickly reverted to a sharp rise in inflation, however, and rate hikes were accelerated.
U.S. manufacturing activity grew steadily in February, but a gauge of prices at the factory gate raced to a near 3-1/2-year high amid tariffs, highlighting upside risks to inflation even before a U.S.-led attack on Iran sent oil prices rocketing.
Oil prices climbed in Asian trading on Tuesday after surging more than 7% in the previous session, as heightened conflict in the Middle East and threats to energy flows through the Strait of Hormuz continued to underpin supply disruption worries.
Latest reports from ANRPC member nations suggest that global NR production is anticipated to increase by 2.2% in 2026, reaching an estimated 15.324 million tons. On the consumption side, global demand is projected to rise by 1.4% to approximately 15.602 million tons for the year.
Despite various global economic pressures, market sentiment remains resilient, supported by recovery signals in the tyre industry. The present market behaviour represents a period of consolidation. This follows recent price gains and precedes the cyclical wintering season between February and May, a timeframe historically defined by tighter global supply.
Source: ANRPC
Chinese electric vehicle maker BYD recorded the biggest fall in global sales in six years last month against a backdrop of fierce competition in the world's largest auto market.