Asian markets tumble after Israel carries out limited strike on Iran

On Friday, Taiwan’s Weighted Index led declines across major Asian markets, dropping 3.44% amid escalating Middle Eastern tensions. According to NBC News, Israel conducted a targeted strike in Iran, prompting a broad sell-off in Asian equities and risk assets, with investors turning towards safe havens. Consequently, gold prices reached a record high, the Japanese yen strengthened, and bitcoin values fell sharply.

Oil prices also surged, with Brent crude futures briefly topping $90 a barrel before settling just above $89. Meanwhile, U.S. stock futures fell over 1% but later saw modest recovery.

In Japan, the Nikkei 225 declined by 2.47% and the Topix index fell 1.8%, despite the release of March’s inflation data. The headline inflation rate slightly decreased to 2.7% from February’s 2.8%, while core inflation, excluding fresh food, met expectations at 2.6%.

South Korea’s Kospi and the Kosdaq also experienced declines, dropping 1.76% and 1.59%, respectively.