Impact of Israeli Attacks, Stocks Plunge, Oil Prices Skyrocket

HONG KONG, FRIDAY — The direct impact of Israel's attack on Iran is felt across Asia. Stock markets in Asia opened lower. In stock trading, the Nikkei 225 in Tokyo opened down 1.2 percent, while the Kospi in Seoul fell 0.7 percent. The Hang Seng in Hong Kong also recorded a decline of at least 0.4 percent. Similarly, the Shanghai Composite Index dropped by up to 0.2 percent.

In addition to affecting stocks, the Israeli attack titled "Rising Lion" also triggered a surge in global oil prices. The benchmark US oil market rose by 8.2 percent, an increase of 5.6 US dollars, reaching 73.61 US dollars per barrel. The Brent oil market, which serves as the international standard, also recorded an increase of up to 5.52 US dollars, reaching 74.88 US dollars per barrel.

The decline in stock prices and the surge in oil prices are influenced, among other factors, by investors' actions to shift some of their funds into gold and Swiss francs.

"The Israeli attack on Iran is one of the top ten global risks, but Asian markets are expected to recover quickly due to their relatively limited exposure to the conflict and increasingly close ties with Saudi Arabia and the UAE, which remain unaffected," said Xu Tiachen from The Economist Intelligence.

Separately, the Secretary-General of PBB, Antonio Guterres, condemned the various forms of military escalation in the Middle East. "The Secretary-General urges both parties to exercise maximum restraint, avoiding by all means the occurrence of a deeper conflict, a situation that is almost unbearable for the region," said PBB Deputy Spokesperson Farhan Haq.

In its statement, the Israeli military said that they deployed at least 200 fighter jets in the initial assault of Operation "Rising Lion." They targeted at least 100 sites in Iran. Several high-ranking Iranian officers and Iranian nuclear experts were killed in the attack.

One of the high-ranking Iranian officers who was also a victim was General Hossein Salami. Salami was the Commander of the Iranian Revolutionary Guard.

As an initial response, Iran deployed 100 drones to attack Israel. "In the last few hours, Iran has launched more than 100 unmanned aerial vehicles at Israel, and all defense systems are acting to intercept the threat," said Deffrin.

Israel is optimistic about the results of the "Rising Lion" operation. The Israeli military stated that intelligence reports indicate that as a result of the attack, Iran has lost significant nuclear capabilities. The report mentioned that Iran is approaching a 'point of no return' in their nuclear program.

"We have targeted senior commanders, we have targeted senior scientists who promote the development of nuclear bombs, and we have targeted nuclear facilities," said Netanyahu.

In response to the escalating situation, the Jordanian civil aviation authority announced that the country's airspace will be closed to all flights. This measure follows similar actions taken by other regional air authorities. The Jordan News Agency stated that this temporary action reflects the country's concerns regarding any dangers associated with the escalation in the region.