India, June 8 -- A geopolitical flashpoint over the weekend has redrawn risk calculations across every major asset class. Israeli airstrikes on Beirut targeting Hezbollah, followed by a large-scale Iranian ballistic missile response late Sunday, erased the ceasefire optimism that had taken weeks to build. Energy and currency markets registered their sharpest single-session repricing in recent months and the damage was evident across Asian trading desks before European markets even opened.

Brent crude futures surged 3.3 percent to $96.15 per barrel in early Monday trading, with intraday spikes reaching $97.70 the most aggressive one-day advance in over a month. West Texas Intermediate rose 4.5 percent, crossing $94.70 a barrel.

The core ...