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Asia Uniformly Down After Israel Strike on Iran

Asian equities declined as Israel carried out a limited strike in Iran. Stocks and risk assets tumbled, while safe havens rose.

The Nikkei 225 Index tumbled 1,011.35 points, or 2.7%, to 37,068.35, while safe havens rose.

Gold hit an all-time high as the Japanese yen also strengthened, while bitcoin plunged.

On a weekly basis, the Nikkei shed 3.7%.

Japanese automaker Nissan lowered its sales and profit outlook for its 2023 financial year ended March 31.

Nissan revealed in a filing it lowered its sales volume estimate to 3.44 million units, down from the 3.55 million forecast in February.

On Friday, Japan released its March inflation data, with the headline inflation rate coming in at 2.7%, down from the 2.8% seen in February.

The core inflation rate — which strips out fresh food prices — stood at 2.6%, in line with expectations from economists polled by Reuters.

In Hong Kong, the Hang Seng index shed 161.73 points, or 1%, to 16,224.14.

In Australia, markets went downward, marking its sixth losing session in seven days.

In other markets

In Shanghai, the CSI 300 faded 28.14 points, or 0.8%, to 3,541.66.

In Korea, the Kospi slid 42.84 points, or 1.6%, to 2,591.86.

In Singapore, the Straits Times Index dipped 11.15 points, or 0.4%, to 3,176.51.

In Taiwan, the Taiex index dumped 774.08 points, or 3.8%, to 19.527.12.

In New Zealand, the NZX 50 subtracted 39.82 points, or 0.3%, to 11,796.22.

In Australia, the ASX 200 removed 74.83 points, or 1%, to 7,567.28.