Asian Shares Plunge as Oil Prices Fall Below $105

Asian shares declined on Friday, mirroring losses on Wall Street, while oil prices fell to around $105 per barrel after hitting its highest level since May.

The Nikkei 225 index dropped 1.9% to 64,011.34, with SoftBank Group's shares plummeting almost 4%. South Korea's Kospi lost 1.8%, while Samsung Electronics slid 3.5% and SK Hynix declined 2.2%.

Oil prices fell despite tensions between the U.S. and Iran intensifying, with Brent crude down 2.3% at $105.14 per barrel after earlier rising above $108. Benchmark U.S. crude was down 2% to $100.46 per barrel.

ING commodities strategists Warren Patterson and Ewa Manthey noted that oil flowing through the Strait of Hormuz remained 'well below pre-war levels,' underscoring the fragile situation.