Strait of Hormuz Insurance Freeze Wipes $1.3 Trillion From Asian Equity Markets

TLDR: Strait of Hormuz tanker crossings dropped to zero after seven P&I clubs cancelled war-risk extensions on March 5. KOSPI posted its worst single-day loss in South Korean history, falling 7.62% in one session. Japan, South Korea, and Taiwan import up to 90% of crude through the now commercially closed Strait. TSMC, Samsung, and SK [...]

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