On Monday morning (2 March, 9:54 AM, GMT+7, Bangkok time), major indices in the Asia Pacific retreated, with airline stocks facing sharp declines as ongoing Middle East turbulence disrupted airspace and led to airport shutdowns. Investors responded by shifting away from travel-related companies, amid heightened uncertainty and concerns about rising operating costs.
Energy shares, by contrast, attracted buying interest after crude oil prices rallied in the wake of heightened geopolitical tensions following recent escalations involving Iran and the United States. Regional oil and gas producers advanced, as the market priced in the potential for tighter global supply.
Meanwhile, stocks linked to the defense sector recorded more modest gains, lifted by expectations of increased demand for security and aerospace equipment amid continued instability in the Middle East.
Notably, markets in South Korea are closed for a public holiday.
Japan’s NIKKEI slumped by 1.53% to 57,950.76, and Australia’s ASX 200 fell by 0.50% to 9,153.00.
As for stocks in China, Shanghai’s SSEC shrank by 0.26% to 4,152.15. Shenzhen’s SZI dropped by 0.76% to 14,384.39, and Hong Kong’s HSI declined by 2.26% to 26,027.52.
The U.S. stock markets edged down on Friday as the Dow Jones Industrial Average (DJIA) plummeted by 1.05% to 48,977.92. NASDAQ lost 0.92% to 22,668.21, and S&P 500 decreased by 0.43% to 6,878.88. VIX advanced by 6.60% to 19.86.
As for commodities, oil prices saw sharp gains on Monday amid sustained conflict in the Middle East, prompting investors to shift capital into traditional safe-haven assets such as the dollar and gold. Brent crude advanced 4.90%, or $3.57, to reach $76.44 a barrel, after briefly exceeding $82 earlier in the session. U.S. benchmark crude increased 4.49%, or $3.01, to $70.03 per barrel.
The price moves followed strikes by both the United States and Israel targeting Iran, with Iran launching its own missile attacks across the region, raising concerns about a broader regional conflict that could impact neighboring countries as well.
Meanwhile, gold futures surged by 2.18% to $5,362.30 per Troy ounce.
