Asian Shares Retreat Amid Middle East Concerns

Asian stocks ended broadly lower in cautious trade on Wednesday as oil prices climbed and yields rebounded on fears Iran is stepping up attacks on tankers in the Strait of Hormuz.

U.K. Maritime Trade Operations said there had been nine attacks so far this month, half the number it reported for all of September in the waterway and Persian Gulf combined.

In a statement on the social media platform X, Yemen’s Houthi group claimed that it carried out a series of drone and ballistic missile attacks targeting airports and military installations in Saudi Arabia.