The 30-year fixed-rate mortgage averaged 6.55% on Thursday, its highest since late August 2025 and up from 6.49% a week earlier, Freddie Mac said. Rates rose for a second straight week as U.S. Treasury yields climbed after a temporary U.S.-Iran peace accord broke down, reviving Middle East tensions and inflation concerns.

Japan's Nikkei 225 was down as much as 2.00% intraday.

Facing rising geopolitical risk, PM Modi is pursuing measures to reduce India’s reliance on critical imports to protect supply chains and ease currency pressure. The commerce ministry is drafting a list of more than 100 products — including electronics, chemicals, key pharmaceuticals, fertiliser, semiconductors, autos and machinery — to scale up domestic production. The cabinet approved an additional 1.9 tln rupee ($19.7bn) of fiscal support for chip and smartphone manufacturing and a policy to raise domestic fertiliser output after supply concerns tied to a potential Strait of Hormuz disruption. The government aims to cut fertiliser imports by 30% over three years and plans to restart idled domestic fertiliser plants, with some projects expected within a year. Authorities may offer incentives to private and foreign investors to build local plants and could require state-owned firms to expand capacity via joint ventures.