Asian markets fall with KOSPI down 4.5%
China's Sinopec company is increasing its imports of Russian oil to address supply shortages, while Asian markets as a whole declined, with the Kospi index dropping by 4.5%. Wizz Air also suffered losses of around $210 million due to the impacts of the Iran conflict. Nevertheless, gold prices continued to rise in the UAE, and Brazil lowered its basic interest rate for the fourth consecutive time.
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