Asian stock markets fall on Monday as oil prices surged, CNBC reports.

Japan's Nikkei 225 index fell 5.24% to 52,707.5 points, while South Korea's KOSPI index fell 5.96% to 5,251.87 points.

The index fell more than 8% in trading, prompting a 20-minute halt to trading.

Hong Kong's Hang Seng index fell 1.8% to 25,292.5 points.

Asian stock markets are reacting to a sharp increase in oil prices due to the conflict that broke out in the Middle East.

At the opening of trading Monday, prices for a barrel of oil first crossed the $110 mark, and later the price of May futures for Brent crude oil on the London ICE exchange reached $119.5 a barrel—the highest level since June 17, 2022.