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Israel-Iran Tensions Weigh on Asia Markets



Asia-Pacific markets fell Monday as traders weighed the impact of Iran’s massive drone and missile attacks on Israel over the weekend, with focus also on key economic data from China and Japan later in the week.

The Nikkei 225 Index decreased 290.75 points, or 0.7%, to 39,232.80.

In Hong Kong, the Hang Seng index dropped 121.23 points, or 0.7%, to 16,600.46.

Iran launched more than 300 drones and missiles against military targets in Israel on Saturday in an attack that U.S. President Joe Biden described as “unprecedented.”

The U.S. intervened to directly help Israel shoot down nearly all of the incoming munitions, Biden said in a statement Saturday.

CHINA

In Shanghai, the CSI 300 index recovered 73.24 points, or 2.1%, to 3,549.09, marking its largest one-day gain since Feb. 6.

China will announce its first-quarter GDP numbers on Tuesday. Japan will release its March trade data and inflation numbers on Wednesday and Friday, respectively.

In other markets

In Korea, the Kospi dipped 11.39 points, or 0.4%, to 2,670.43.

In Singapore, the Straits Times Index erased 33.3 points, or 1%, to 3,183.61.

In Taiwan, the Taiex index faltered 286.8 points, or 1.4%, to 20,449.77.

In New Zealand, the NZX 50 swooned 14.54 points, or 0.1%, to 11,916.78.

In Australia, the ASX 200 dipped 35.56 points, or 0.5%, to 7,752.53.



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