Asian stocks plunge.

Asian stock markets fell sharply on March 23 after US President Donald Trump and Iranian leaders exchanged threats of retaliation over issues related to the Strait of Hormuz.

An electronic display shows the KOSPI index at Hana Bank in Seoul, South Korea, on March 23, 2026. Photo: Yonhap/VNA

The focus of the sell-off was on the South Korean market, where the KOSPI index plummeted by 375.45 points (6.49%) to 5,405.75 points. This significant fluctuation forced regulators to temporarily halt automated trading for 5 minutes to stabilize market sentiment.

In Japan, the Nikkei 225 index fell 1,857.04 points (3.48%) to 51,515.49 points, after having lost more than 5% at one point during the session.

Similarly, red dominated Chinese markets. The Hang Seng index in Hong Kong fell 3.5% to close at 24,382.47 points. The Shanghai Composite index in Shanghai dropped 3.6% to 3,813.28 points.

Other markets such as Taipei (China), Singapore, Mumbai, Bangkok, and Manila also recorded declines of 2% to 3%.

The market panicked after Donald Trump's ultimatum on March 21 (US time) demanding that Iran reopen the Strait of Hormuz within 48 hours, or its critical energy infrastructure would be destroyed. In response, Iran warned it would completely close the strait and destroy critical infrastructure in the region if attacked. If this were to happen, it could cause oil prices to skyrocket for an extended period.

The head of the International Energy Agency (IEA), Fatih Birol, stated that the global economy is facing a major threat and warned of the worst energy crisis in decades. He emphasized that no country will be immune if the crisis continues to escalate.

In the domestic market, at the close of trading on March 23, the VN-Index fell 56.64 points (3.44%) to 1,591.17 points. The HNX-Index fell 5.92 points (2.43%) to 237.54 points.

Source: https://baotintuc.vn/thi-truong-tien-te/chung-khoan-chau-a-lao-doc-20260323162510179.htm