Asian stock markets fell across the region! Oil prices surged to near $120, pressuring technology and chip stocks.

Asian stock markets fell across the region today (March 9, 2569) amid concerns about global energy supply after oil prices surged close to $120 per barrel following production cuts by major Middle Eastern producers after the closure of the Strait of Hormuz. However, the upward trend in oil prices slowed after reports that Saudi Arabia offered additional crude oil to the market, easing some tension in the energy market. Despite this, overall investment sentiment remained risk-averse.

Japanese stock market

The Nikkei index fell sharply and broke below a key level following increased selling pressure on technology and semiconductor stocks. SoftBank was one of the stocks that experienced the biggest drop, while chip-related stocks like Advantest and Lasertec were also sold off amid concerns that higher energy prices would impact costs and the global economic outlook.

• The Nikkei closed at 52,728.72 points, down 2,892.12 points, or -5.20%.

Chinese stock market

The Shanghai Composite Index edged lower, primarily driven by a weaker global investment climate. However, the Chinese market fell less than many other countries in the region, as investors continued to anticipate government economic support measures.

• The Shanghai Composite Index closed at 4,096.60, down 27.59 points, or -0.67%.

Hong Kong Stock Market

The Hang Seng Index weakened in line with global markets, driven by selling pressure on technology and financial stocks, as investors continued to monitor the impact of soaring oil prices on the global economy and international trade.

• The Hang Seng Index closed at 25,408.46 points, down 348.83 points or -1.35%.

South Korean stock market

The KOSPI index plunged and a circuit breaker was triggered during the day as the market faced heavy selling pressure on large-cap stocks, particularly technology stocks such as Samsung Electronics and SK Hynix, which experienced sharp declines.

Analysts say conflicts in the Middle East could drive up energy costs, posing a risk to South Korea's economy as a major oil importer. It could also disrupt the semiconductor supply chain if certain materials from the region become scarce.

• The South Korean stock market composite index (KOSPI) closed at 5,251.87 points, falling 333 points or 5.96%.

refer : www.cnbc.com

Read news related to both Thai and international stock markets here.