A sharp escalation in the Middle East has triggered concerns across Asia-Pacific, with a Moody’s Analytics report warning that the region’s most advanced economies could face the heaviest immediate fallout due to their reliance on imported energy and commodities. "Asia is particularly exposed as it buys the lion’s share of oil and gas produced in the region. Roughly a third of global seaborne crude oil exports pass through the Strait of Hormuz, with most volumes destined for large Asian economies such as China, India, Japan and South Korea," it said.