Asia-Pacific markets decline as U.S. bombing of Iran escalates Middle East crisis

Asia-Pacific markets declined Monday, after the United States’ attack on three nuclear sites in Iran raised oil prices and investors’ fears of an escalation in the Middle East conflict.

Oil prices have spiked in recent weeks following the increased tensions in the Middle East.

Brent Crude was trading at $78.66 per barrel after surging 2.14%, as of 9.43 a.m. Singapore time, while the West Texas Intermediate crude added 2.23% to $75.47.

Japan’s benchmark Nikkei 225 fell 0.56%, while the broader Topix index declined 0.49%.

In South Korea, the Kospi index lost 1.05%, while the small-cap Kosdaq plunged 1.78%.

Hong Kong’s Hang Seng Index moved down 0.58% in early trade, while mainland China’s CSI 300 index declined 0.4%.

Over in Australia, the S&P/ASX 200 sank 0.76%.

— CNBC’s Lisa Kailan Han, Sean Conlon, Brian Evans contributed to this report.