Riyadh: Asian stock markets declined in today's trading, with the Republic of Korea's equities falling more than 5% after renewed tensions in the Middle East triggered a sharp rise in oil prices, weakening investors' risk appetite and sending technology shares lower.
According to Saudi Press Agency, the Republic of Korea's benchmark stock index dropped more than 5%, extending its recent decline as shares of major semiconductor companies came under renewed pressure. Japan's Nikkei 225 index fell 1.3%, while the broader TOPIX index declined 0.8%.
Brent crude prices rose more than 3% during Asian trading, reviving concerns that higher energy costs could fuel inflation and complicate the global interest rate outlook. In China, the Shanghai Composite Index fell 0.7%, while the CSI 300 Index of blue-chip stocks declined 0.3%.