Asian markets sharply down due to escalation in the Middle East: oil over 100 dollars, Hang Seng -3.2%

Asian markets open sharply lower on Monday, March 9, 2026: the Hang Seng index in Hong Kong drops 3.2% to 24,933.96 points, while the Nikkei in Tokyo initially plummets over 6%, then settles at -1.86% on 54,583.59. The sell-off is linked to the escalation of the crisis in the Middle East, with WTI crude oil surging 26% above $100 per barrel for the first time since 2022.

Asian markets in the red: fears of conflict expansion

The Asian stock market morning was marked by widespread selling. In Hong Kong, the Hang Seng accelerated downward in the early hours, reflecting fears of an expansion of the war between the United States, Israel, and Iran, which has entered its second week. Oil prices, which soared above $105 on Friday, triggered a correction similar to that of US indices last week.

Hang Seng: -3.2% at 24,933.96 points.

Nikkei: -6% initial (losing 3,300 points below 53,000), then -1.86% with 1,037 points less.

Weak yen: 158.30 against the dollar, but strengthened to 182.50 against the euro.

The Tokyo Stock Exchange opened with a sustained decline, following the American trend and the absence of signs for de-escalation in the Middle East.

Oil on fire: WTI +26%, Brent +23% due to attack on Iran

The real star is oil, which is surging due to the war on Iran. WTI gains 26%, soaring to $104.61 per barrel (the highest since July 2022), after a +36% last week and +15% today. Brent rises 23% to $114.20, or 10% to $102.20 according to updates.

This rally follows the US-Israel attack on Iran a week ago, with prices exceeding $105 for the first time since 2024. The Iranian nuclear crisis is blocking flows, driving prices sky-high.