US-Israeli War on Iran, Energy Fears Hammer Asia Markets

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%.