War-induced interest rate shocks unlikely to upset Asia’s property markets

Last week, the energy shock caused by the war in Iran showed signs of becoming a full-blown financial and economic crisis. The attacks on energy infrastructure across the Middle East, coupled with soaring prices of crucial refined petroleum products such as diesel and jet fuel, forced investors to start pricing in a prolonged disruption to supply and a contraction in demand. Even if the Strait of Hormuz reopens sooner than anticipated, the scale of the damage to energy assets in the Persian Gulf...