AhlulBayt News Agency: Asian markets endured a day of steep losses as the US-Israeli war on Iran intensified and oil prices surged past $100 per barrel for the first time since onset of Russia-Ukraine conflict in 2022.
The conflict in the Middle East, which has shown no signs of easing, could fuel inflation and weigh on economic growth for East Asian countries that rely heavily on energy imports from the region.
Japan’s benchmark Nikkei 225 index plunged 7% in the early hours of trading before paring some losses to close down 5.2%, while South Korea’s Kospi was down 6%. Taiwan’s Taiex slumped 4.4%, and Hong Kong’s Hang Seng Index slid 1.4%.
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