Monday 30th March 2026: Asia-Pacific Markets Slide as Middle East Conflict Deepens, Oil Prices Rise

Global Markets:
- Asian Stock Markets : Nikkei down 3.34%, Shanghai Composite up 0.23% Hang Seng down 0.94% ASX down 0.83%
- Commodities : Gold at $4,533.51 (0.20%) Silver at $70.145 (0.50%), Brent Oil at $107.71 (2.26%), WTI Oil at $101.57 (1.92%)
- Rates : US 10-year yield at 4.391, UK 10-year yield at 4.9740, Germany 10-year yield at 3.0985

News & Data:
(GBP) Retail Sales m/m -0.4% to -0.6% expected

Markets Update:
Asia-Pacific markets dropped sharply on Monday as the Middle East conflict entered its fifth week, intensifying despite ongoing diplomatic efforts. South Korea’s benchmark Kospi plunged more than 5%, while the small-cap Kosdaq declined 3.97%.

Japan’s Nikkei 225 slipped 3.97% and the Topix lost 3.9%. Minutes from the Bank of Japan’s March meeting showed policymakers discussing the need for further rate hikes, as rising oil prices linked to the conflict continue to fuel inflation concerns. One policymaker warned the central bank risks falling behind the curve if tightening is delayed, citing potential second-round effects and stronger underlying inflation driven by overseas developments.

Australia’s S&P/ASX 200 fell 1.46%, while Hong Kong’s Hang Seng index dropped 1.52% and mainland China’s CSI 300 declined 0.77%.

Adding to tensions, Yemen’s Houthi movement said it launched ballistic missiles at Israeli military targets, marking its first direct involvement in the U.S.- and Israeli-led conflict with Iran. The escalation follows earlier airstrikes on Iranian targets on Feb. 28.

Oil prices rose in early Asian trade, with West Texas Intermediate crude gaining 2.58% to $102.19 per barrel. Meanwhile, Australia announced a three-month fuel excise cut expected to reduce petrol prices by 26.3 Australian cents per litre.

U.S. stock futures also declined after major indexes extended weekly losses.

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Publication date:

30 March 2026 - 11:12 (GMT)