Asia markets close mostly lower as Iran war drags on

Asian stock markets closed mostly lower on Monday (March 30), as Tokyo and Seoul saw significant sell-offs while Shanghai managed to stage a late session to close the day in the green.

Japan's Nikkei share average tumbled, while benchmark bond yields briefly touched a 27-year high before retreating, as the widening Middle East war fuelled recession concerns. The Nikkei closed down 2.8% at 51,885.85, having fallen as much as 5.3% earlier in the session before recovering some ground.

In South Korea, the benchmark Korea Composite Stock Price Index (KOSPI) closed down 2.97% to 5,277.30 points. Meanwhile, the won hit a 17-year low on worries over a widening Middle East war, quoted down 0.5% at 1,518.7 per dollar, hitting its weakest level since March 2009.

China's Shanghai Composite (SSE) Index closed up 9.56 points or 0.24% at 3,923.29, reversing course in the afternoon after opening the day down 0.75%.

Production: Irene Wang, Dogyun Kim, Jungmin Ryu, Nicoco Chan/Reuters