WS #9279

The Israel-Iran conflict continues to escalate, with multiple sources (Al Jazeera, Bloomberg, Bluesky OSINT) reporting fresh exchanges of missile and airstrikes. Iran released footage of missiles launched at Israel, calling it 'the beginning of a full week of continuous strikes.' Oil prices rose 5% after Iranian media reported explosions in Tehran. The Strait of Hormuz remains effectively closed, and Indonesia's new coal export rules have pushed Asian coal prices to near two-year highs. Asian markets are in turmoil: South Korea's Kospi plunged 8.29% (worst one-day drop since 2020), triggering a circuit breaker halt, and Japan's Nikkei fell 4.5%. The tech selloff deepens amid fears of US rate hikes and AI overvaluation. UK PM Starmer announced a £400M commitment to buy specialist AI chips, a bullish signal for UK tech and AI infrastructure. China's Xi Jinping arrived in North Korea for talks with Kim Jong Un, pledging 'invincible' friendship. A magnitude 7.8 earthquake struck the Philippines, killing at least 19. The dominant narrative is ESCALATING: the Israel-Iran conflict is intensifying, oil is spiking, and Asian tech stocks are crashing. Counter-signals: UK AI chip investment provides a bullish tech narrative, and the Philippines earthquake is a localized disaster with limited global market impact.