Asian stocks dip as oil rises after Trump's Hormuz levy threat

The U.S. said it’s reinstating a blockade of Iranian shipping and will charge a 20% fee for cargo through the Strait of Hormuz, reigniting geopolitical tensions.
Oil jumped to about $85.5 a barrel, its highest in roughly a month, after the news.
China’s June exports and imports beat expectations, lifting Chinese stocks (CSI 300 up ~2%) and helping Asian markets bounce back.