SEOUL -- South Korean stocks on Monday suffered a massive sell-off amid escalating Middle East conflict and surging global oil prices.
The benchmark KOSPI dived 333.00 points, or 5.96 percent, to close at 5,251.87, and the smaller KOSDAQ plunged 52.39 points, or 4.54 percent, to finish at 1,102.28. (South Korea-Stock Market-Rout)
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TOKYO -- Japan's benchmark Nikkei stock index lost over 2,800 points on Monday, marking the third largest point drop in history.
The 225-issue Nikkei Stock Average ended down 2,892.12 points, or 5.20 percent, from Friday at 52,728.72. (Japan-Stocks)
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SEOUL -- South Korea and the United States on Monday kicked off their annual Freedom Shield joint military exercises, drawing protests from civic groups in Seoul who warned the drills could heighten regional tensions and undermine peace on the Korean Peninsula.
The exercise, scheduled to run for 11 days through March 19, includes 22 field training drills involving actual troop maneuvers, according to South Korea's Joint Chiefs of Staff. Seoul and Washington have described the exercise as defensive in nature, but critics say the large-scale war games escalate confrontation in the region. The Democratic People's Republic of Korea has long denounced the drills as rehearsals for an invasion. (South Korea-U.S.-Military)
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WELLINGTON -- New Zealand motorists are rushing to petrol stations after oil surged past 100 U.S. dollars a barrel over Middle East tensions, fearing steep domestic price hikes.
Brent Crude jumped 18 percent to 110 dollars a barrel when trading resumed Monday, prompting drivers to queue at pumps over the weekend to fill tanks before the costs climb further. (New Zealand-Oil Price) Enditem
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