Asian Stock Markets Plunge, Houthi Missiles on Israel Trigger Global Pressure

Jakarta - Asian-Pacific stock markets opened sharply lower on Monday, 30 March 2026. The decline is still driven by the war tensions in the Middle East entering their fifth week, despite diplomatic peace efforts.

Yemen’s Houthi group stated that it had fired missiles at Israel on Saturday, 28 March 2026. This marks Yemen’s first direct involvement in the US- and Israel-led war against Iran.

In a post on X, Houthi spokesperson Yahya Saree said his group launched a barrage of ballistic missiles at what they described as sensitive Israeli military sites. Saree emphasised that the action was in support of Iran and its ally Hezbollah forces in Lebanon.

Yemen’s attack on Israel indicates further escalation in the war that began with US and Israeli airstrikes on Iranian targets on 28 February 2026.

Citing CNBC International, South Korea’s Kospi index fell more than 5 percent. The Kosdaq index, comprising small-cap stocks, dropped 3.97 percent.

In Japan, the Nikkei 225 index weakened 3.97 percent, while the Topix index declined 3.9 percent. The Bank of Japan’s regulators are discussing the need for further interest rate hikes at their March 2026 meeting.

The benchmark interest rate hike follows a surge in global oil prices due to the Middle East conflict, which is putting pressure on inflation. One BOJ board member indicated that tightening may need to be accelerated, according to the opinion summary released today.

Australia’s S&P/ASX 200 index weakened 1.46 percent. Hong Kong’s Hang Seng index declined 1.52 percent, while the CSI 300 lost 0.77 percent.

Wall Street also showed a fairly deep correction at the market close ahead of the weekend. The Dow Jones Industrial Average index weakened 793.47 points or 1.73 percent and closed at 45,166.64.

The S&P 500 fell 1.67 percent and ended the session at its lowest level in seven months at 6,368.85. The Nasdaq Composite plunged 2.15 percent to 20,948.36.