06:46 AM EDT, 03/09/2026 (MT Newswires) -- Asian stock markets retreated on Monday as international crude oil prices topped $100 a barrel, with no signs of an opening of the Strait of Hormuz off the coast of Iran, through which about 20% of the global crude is transported by ship.

Hong Kong, Shanghai and Tokyo finished in the red, as did other regional exchanges, led by a 6% slip on Seoul's KOSPI Index.

In Japan, the Nikkei 225 opened lower and closed off 5.2%, in part on reports that reputed hardliner Mojtaba Khamenei has replaced his father, Ayatollah Ali Khamenei, as the new Supreme Leader of Iran, perhaps dowsing hopes of a regional peace deal.

The benchmark Nikkei 225 fell 2,892.12 to 52,728.72, as losing issues outnumbered gainers 199 to 22.

Leading the upside was internet-service outfit CyberAgent, up 3.7%, while chemical concern Resonac declined 12.6%.

In economic news, real wages in in Japan in January rose 1.4% on year, marking the first gain in 13 months, helped by moderating inflation, reported the Ministry of Health, Labor and Welfare.

In Hong Kong, the Hang Seng Index opened lower and could not recover, finishing off 1.3% on Middle East geopolitical tensions.

The broad gauge Hang Seng fell 348.83 to 25,408.46, as losing issues outnumbered gainers 69 to 18. The Hang Seng TECH Index lost 0.1% on the day, while the Mainland Properties Index fell 1.9%.

Leading the upside was EV-maker BYD, gaining 4.2%, while Hang Lung Properties declined 4.9%.

On the mainland, the Shanghai Composite fell 0.7% to 4,096.60.

In economic news, China's consumer price index rose 1.3% on year in February, up from 0.2% in January, the National Bureau of Statistics (NBS) reported. However, the Lunar New Year occurred in February of 2026 vs. January of 2025, boosting demand this year and making on-year comparisons uncertain.

On the other regional exchanges, the Taiwan TWSE declined 4.4%; the Australian ASX 200 declined 2.8%; the Singapore Straits Times Index fell 2%, and the Thai Set declined 1.9%. In late trading in Mumbai, the Sensex was down 1.7%

The MSCI All Country Asia Pacific Index fell 3.7% on the day.

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