The Canadian dollar has become a top pick in the $9.5-trillion-a-day foreign exchange market due to its link to oil prices as the war in the Middle East grinds on.

At the peak of the 2008 global financial crisis, Tim Geithner, then president of the Federal Reserve Bank of New York had advice for a prominent Wall Street chief executive: Before you speak in public, banish the fear from your voice. If central bankers in Asia are to prevent market somersaults this week from morphing into more serious problems, they should keep this in mind.

GLOBAL-OIL:Oil jumps 5% on supply concerns as Iran conflict widens

The Gift Nifty is down 350 points, hinting at a potential continuation of market losses. Despite a brief recovery in Indian indices led by metal and auto stocks, geopolitical tensions in the Middle East and halted tanker traffic are impacting oil prices and market stability.

Broadcom's shares rose 6% to $330.70 after strong fiscal first-quarter results, reporting $19.3 billion in sales and a net income increase to $7.35 billion. The company anticipates $22 billion in revenue for the next quarter, bolstered by a surge in AI chip demand.