AhlulBayt News Agency: Asian markets tumbled sharply in early Wednesday trading as the widening war in West Asia rattled investors, deepening fears of energy supply disruptions that could hit import-dependent Asian economies hard.
South Korea: KOSPI plunged 12.3% by late morning, after closing 7.2% lower on Tuesday.
Japan: Nikkei 225 index plummeted 4.7%.
Hong Kong: Hang Seng index was down 3.1%.
Taiwan: TAIEX slid 3.9%.Asian economies are particularly vulnerable to energy supply disruptions in the Middle East, as many of them source the majority of crude oil and sizable portion of gas from the Persian Gulf states.
To reach Asia, about 46% of the crude is shipped through a critical route – the Strait of Hormuz, which has already seen traffic being limited, according to Kpler, a global oil monitoring service.
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Asian markets tumbled sharply in early Wednesday trading as the widening war in West Asia rattled investors, deepening fears of energy supply disruptions that could hit import-dependent Asian economies hard.
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