Iran oil shock stirs memories of 1997 Asian Financial Crisis — but here’s why history may not repeat itself

A month into the worst oil supply disruption since the 1970s Arab embargo, the economic pain spreading across Asia is reviving an uncomfortable question: Could this be 1997 all over again?  The parallels are hard to ignore. Asian currencies are under pressure, fueling the risk of capital outflows. Spiking energy costs have pushed governments to…

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Nikkei 225, Kospi, Nifty 50

An electronic quotation board displays the Nikkei 225 stock prices on the Tokyo stock Exchange in Tokyo on Nov. 5, 2025. Greg Baker | Afp | Getty Images Asia-Pacific markets were set to open lower on Monday as investors looked toward a slate of regional economic data. Japan’s benchmark Nikkei 225 was set to open…

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