Torrential rains have killed one person in South Korea and triggered widespread flooding in the Philippine capital of Manila. More than 800 mm of rain fell in Geoje over the weekend, causing a landslide that buried part of an apartment building. Rescue crews pulled three residents from the rubble alive, but one was later pronounced dead. Authorities evacuated nearly 400 people, while power was knocked out to thousands of homes and a dozen schools were flooded. In the Philippines, monsoon rains forced the suspension of government work and shifted classes online, with earlier storms in northern Luzon already claiming at least 23 lives. The Nikkei finished near 68,099 after posting a nearly one percent loss on the session. Oil is at $85.06. Gold hit $4,451 an ounce. Bitcoin traded near $64,061. The moves come as the US-Iran ceasefire has expired, pushing oil higher on renewed supply risks and setting a cautious tone heading into the European open. And finally, these extreme weather events continue to disrupt local economies and supply chains across the region.
Condor Studio News · 10:00 PM Central · Aug 17, 2026.