[MARKET UPDATE] Asia-Pac stocks begin the week lower as oil surges following failed US-Iran talks in Islamabad and President Trump's announcement of a US naval blockade in the Strait of Hormuz

The decline in Asia-Pacific stocks is primarily driven by escalating geopolitical tensions following the US-Iran talks, highlighting the significant risk to stability in the region. President Trump's naval blockade announcement raises concerns about potential supply disruptions in the Strait of Hormuz, which could further elevate oil prices and impact global inflation dynamics. This backdrop may lead to increased volatility across equities and commodities as traders reassess risk exposures.