FX.co ★ Asian Stocks Fall as Oil Surges

Asian equity markets fell on Monday as oil prices surged following the failure of weekend talks between the US and Iran in Islamabad to yield an agreement. President Donald Trump also announced plans to blockade the Strait of Hormuz and is reportedly weighing renewed strikes on Iran, amplifying fears of a broader escalation in the global energy crisis. Benchmark indices in Australia, Japan, South Korea, Hong Kong, and China all traded lower.