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%.

U.S. equity futures fell in early Asia hours following the U.S. strikes in Iran. Futures tied to the Dow Jones Industrial Average fell by 109 points, or 0.3%. S&P 500 futures shed 0.3% and Nasdaq 100 futures lost 0.4%.

Two of the three key benchmarks on Wall Street fell last Friday as investors kept watch on the Middle East conflict while contemplating the Federal Reserve's plans for interest rate cuts.

The S&P 500 declined 0.22% to end at 5,967.84, making it the broad-based index's third consecutive losing session. The Nasdaq Composite dropped 0.51% and settled at 19,447.41, while the Dow Jones Industrial Average ticked up 35.16 points, or 0.08%, closing at 42,206.82.

South Korean stocks fall over 1%

South Korean stocks fell Monday, as Asia-Pacific markets logged declines.

As of 10.15 a.m. local time, the Kospi index had dropped 1.09%, reversing course from gains in its previous five sessions and its 42-month high close last Friday.

Meanwhile, the small-cap Kosdaq index was last seen trading down 1.89%.

Among the index heavyweights, LG Energy Solution had plunged 4.59%, while LG Electronics, Samsung Electronics and SK Hynix had lost 3.11%, 2.94% and 1.95% respectively.

Tech stocks lead losses on Japan's Nikkei 225 benchmark

Japanese tech stocks declined sharply on Monday and were among the worst performers on the Nikkei 225 share average.

The 225-stock index extended its losses for the third consecutive session, and was down 0.51% as of 10 a.m. local time.

The worst performing stocks on the index were semiconductor manufacturer Screen Holdings, which plunged 4.78%, Lasertec Corp, which declined 4.31% and Disco Corp, which declined 3.38%.

Meanwhile, shares of tech giants Advantest and Softbank were last seen down 1.66% and 0.76% respectively.

Auto stocks join the sell-off in Asia after U.S.' strike on Iran

Auto stocks in Asia sank Monday, in line with the wider sell-off in the region after the U.S.' strikes on Iran.

Nissan Motor and Mazda Motor led losses among Japanese automakers, plunging 2.22% and 2.17% respectively as of 8.30 a.m. Singapore time.

Other stocks that logged losses include Mitsubishi Motors, which fell 1.87%, Honda Motor, which was down 1.55% and Toyota Motor, which dropped 1.36%.

South Korea's Hyundai Motor and Kia Corp also logged sharp declines and were last seen down 4.05% and 4.15% respectively.