Key indexes in Japan, South Korea and Hong Kong tumble as Iran threatens attacks on energy infrastructure across region. Published On 23 Mar 202623 Mar 2026Stock markets in the Asia Pacific have fallen sharply amid US President Donald Trump’s ultimatum warning Iran to reopen the Strait of Hormuz or face the annihilation of its energy infrastructure.Japan’s benchmark Nikkei 225 and South Korea’s KOSPI plunged 4 percent and 4.5 percent, respectively, in early trading on Monday.Recommended Stories list of 4 itemsend of listIn Hong Kong, the Hang Seng Index tumbled about 2 percent.Australia’s ASX 200 dropped about 1.6 percent, while the NZX 50 in New Zealand dipped about 1.3 percent.Futures on Wall Street, which are traded outside of regular market hours, saw moderate losses, with those tied to the S&P500 and the Nasdaq Composite down about 0.5 percent.Oil prices remained volatile amid fears of further disruption to global energy supplies.Futures for Brent crude, the international benchmark, rose more than 1.5 percent to top $114 a barrel, before easing to about $112 as of 02:00 GMT.Trump on Saturday threatened to “obliterate” Iran’s power plants within 48 hours if Tehran does not end its effective blockade of the strait, through which about one-fifth of global oil and natural gas exports usually transit.Tehran has pledged to completely close the waterway, which is still being transited by a small number of Chinese, Indian and Pakistani-flagged vessels, and launch retaliatory attacks on energy and water infrastructure across the region if Trump follows through on his threat.Based on the timing of Trump’s warning on Truth Social, the deadline for his ultimatum is set to expire at 23:44 GMT on Monday. A woman stands beside a sign for prices at a gasoline station in Quezon City, Philippines, on March 19, 2026 [Aaron Favila/AP]Trump’s threat has …
