Seoul's Kospi stock index dived more than 8 percent to lead a rout across Asia on Monday as tech firms were hammered and strong US jobs data fueled bets on a Federal Reserve interest rate hike.

China and Hong Kong stocks slid to their lowest levels in two months on Monday, tracking a global tech selloff, but pared losses by midday with some investors using the correction as a buying opportunity.

The dollar was perched near a two-month high on Monday after a blowout US jobs report sent traders ramping up bets on a Federal Reserve rate hike this year, while the yen teetered further into the intervention zone.

Bank Indonesia (BI) and the Finance Ministry on Saturday agreed to increase yields on Indonesian assets to attract portfolio inflows and support the rupiah, after the currency hit record ​lows in the past few weeks.

The Japanese yen is testing the 160 barrier on Friday, prompting pushback from Japanese officials, while the US dollar is on track for a weekly gain as Gulf tensions fuel safe-haven flows.

The central bank said it would intensify intervention to stabilize the rupiah and ensure orderly markets while maintaining attractive yields on monetary instruments to support capital inflows.

The rupiah slid to a new record low of Rp 18,000 per United States dollar on Thursday, extending its losses this year to more than 7 percent and making it Asia’s worst-performing currency as rising oil prices and deteriorating trade dynamics rattled investors.

The dollar clung to its recent strength near a two-month high on Thursday as fresh Gulf hostilities sent oil prices higher and sapped risk appetite, while the Japanese yen hovered near the key 160 level that kept traders on intervention alert.

Indonesian stocks suffered a rout on Wednesday with the benchmark index closing at its lowest level in five years.

Oil prices rose for a third day running on Wednesday and the dollar was on the brink of breaking above 160 yen as fresh hostilities flared in the Gulf after US-Iran peace talks stalled.

Technology giant GoTo and nickel miner Harita Nickel are among the stocks to be axed from the indexer's GEIS this month effective June 22, following in the wake of four small- and large-cap stocks dropped in May.

Oil rose while Asian equities firmed Monday as a surge in artificial intelligence-linked stocks helped offset uncertainty over US-Iran talks.

World stocks stood at record highs on Friday and oil futures eyed the steepest weekly drop for nearly two months as traders waited for details on a potential deal to reopen the Strait of Hormuz and extend the US-Iran ceasefire.

Oil prices bounced higher on Thursday while Asian stocks mostly fell, as new US strikes on Iran marked the latest test of a shaky ceasefire in the Middle East war.

The dollar held firm near a one-week high on Thursday on a Reuters report that the United States had carried out new strikes in Iran targeting a military site, while the yen softened towards a level that triggered central bank intervention last month.

Listed companies are preparing to purchase their own shares on the Indonesia Stock Exchange amid a bearish market, which analysts see as a potential catalyst to ease pressure on Indonesian equities.  

Oil prices fell Wednesday while stock markets diverged over conflicting headlines on talks between Iran and the US to reopen the Strait of Hormuz to Gulf crude shipments.

European stock indexes gave up some recent gains on Tuesday and oil prices rose after new US strikes in southern Iran dampened investors' hopes that a US-Iran peace deal could be imminent.

Oil prices rose on Tuesday and stocks were mixed as investor optimism over an imminent US–Iran peace deal was tempered by new US strikes in the Middle East.

The benchmark indexes removed PT Dian Swastatika Sentosa from its large-cap index and dropped PT Daaz Bara Lestari, PT Hillcon and PT Mulia Industrindo from the small-cap index.

Stocks surged on Monday while the US dollar and oil prices slid as the prospect of a deal to end the Iran war buoyed risk appetite although a lack of clarity over when the Strait of Hormuz would open kept enthusiasm in check.

Asian stock markets rose Friday as optimism over US-Iran talks buoyed equities, though higher oil prices kept inflation concerns in focus.

Incoming Federal Reserve chair Kevin Warsh will be sworn in at the White House on Friday, taking the reins of the US central bank as it faces unprecedented pressure from President Donald Trump to cut interest rates.

The Middle East war is driving up the cost of public debt in rich countries, which could jam state budgets and push governments to unfold austerity policies, economists warn.

The US dollar hit a six-week high on Wednesday as investors came to terms with the possible need for higher interest rates to tackle inflation resulting from the Iran war.

The benchmark index was down 1.85 percent on Monday and plunged again by more than 3 percent in the morning trading session on Tuesday.

The President is expected to outline the broader stabilization strategy before lawmakers in the coming days, according to the finance minister.

Bonds from Tokyo to New York extended losses on Monday as inflation fears stoked investor wagers on rate hikes from global central banks. G7 finance ministers in a meeting in Paris looked to find common ground to tackle imbalances from the selloff.

In a House or Representatives hearing on Monday, Bank Indonesia (BI) Governor Perry Warjiyo said “we believe” the rupiah will end up averaging around Rp 16,800 per United States dollar, within the Rp 16,500 to Rp 16,900 target range set in the 2026 state budget.  

The Indonesia Stock Exchange (IDX) Composite index plunged as the market opened on Monday, extending its downward trend following the MSCI index rebalancing announced last week.