Asian stocks dropped on Aug 31 and the dollar held gains after comments from Federal Reserve Chairman Kevin Warsh raised expectations for an interest-rate hike in September. MSCI’s Asia Pacific equities gauge fell 0.6 per cent, with technology shares leading losses.

Oil climbed as Middle East tensions intensified following US military strikes on Iranian rocket launchers in the Strait of Hormuz on Aug 30. Brent crude rose 1.4 per cent to US$89.30 a barrel, The Straits Times reports.