New Delhi, March 30 -- Asian markets today declined sharply on Monday, March 30, as the Middle East conflict entered its fifth week, with tensions escalating despite ongoing diplomatic efforts.

South Korea's Kospi tumbled more than 5%, while the small-cap Kosdaq dropped 3.97%.

Japan's Nikkei 225 fell 3.97%, and the Topix declined 3.9%. Policymakers at the Bank of Japan discussed the need for further rate hikes during their March meeting, as rising oil prices tied to the Middle East conflict continue to fuel inflationary pressures.

Australia's S&P/ASX 200 slipped 1.46% in early trade on Monday. Meanwhile, Hong Kong's Hang Seng Index futures were at 24,630, below the benchmark's previous close of 24,951.88.

Meanwhile, trends in GIFT Nif...