Hong Kong and Asian markets down as oil price worries dominate

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(30 Mar 2026) RESTRICTIONS SUMMARY: ASSOCIATED PRESS Hong Kong - 30 March 2026 1. Wide of Hong Kong Exchange Square building 2. Electronic ticker showing benchmark Hang Seng Index down 386.8 points to 24,565.08 points just before 0300GMT 3. Wide of Hong Kong Exchange Square building with sculptures of bulls 4. Electronic ticker showing Hang Seng down 371.45 points to 24,580.43 points just after 0300GMT 5. Wide set up shot of Francis Lun, CEO of Venturesmart Asia Ltd talking 6. SOUNDBITE (ENGLISH) Francis Lun, CEO of Venturesmart Asia Ltd: "Despite Donald Trump saying that they are very close to a deal with Iran, and he will control the oil output of Iran, but the fact is, nobody believes him. The market says so, because crude oil is still rising.And some people said if the Strait of Hormuz maintains closure for another month, all hell will break loose, because crude oil could surge to 200 dollars a barrel. And this is the worst scenario. The global economy will sink into a recession which will take years to recover. So it is this fear that drove the market down in Asia today." 7. Wide of people crossing road in Central district of Hong Kong 8. Bank display showing Hang Seng Index down 309.45 points to 24,642.43 points soon after 0300GMT STORYLINE: Stock markets in Asia slumped in Monday morning trading, as worries continued about soaring oil prices and the risk of US escalation in the war against Iran. Seoul and Tokyo indexes showed the biggest hits, and Hong Kong's benchmark Hang Seng was also down at start of trade, although it started to claw back as the morning trading continued. Veteran market watcher and investment manager Francis Lun, CEO of Venturesmart Asia Ltd said that "nobody believes" what Donald Trump is saying about the war against Iran. "The market says so," Lun explained, and warned that if the Strait of Hormuz remains closed for another month, "all hell with break loose." "The global economy will sink into a recession which will take years to recover. So it is this fear that drove the market down in Asia today," he added. =========================================================== Clients are reminded to adhere to all listed restrictions and to check the terms of their licence agreements. For further assistance, please contact the AP Archive on: Tel +44(0)2074827482 Email: [email protected]. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives ​​ Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/4b9daab90ca9426b81033236c4303f1d