06:37 AM EDT, 03/19/2026 (MT Newswires) -- Asian stock markets retreated on Thursday as oil prices advanced, and as traders mulled uncertain time-lines for the opening of the war-torn Strait of Hormuz, through which the Asian Pacific receives the bulk of its petroleum.

Brent crude futures surged to nearly $115 per barrel during the trading day in Asia, up about 7% from Wednesday.

Hong Kong, Shanghai and Tokyo stock markets finished in the red, as did other regional exchanges.

In Japan, the Nikkei 225 opened lower and declined in trading, finishing off 3.4% as traders mulled the Middle East war and outlook.

The benchmark Nikkei 225 fell 1,866.87 to 53,372.53, as losing issues outnumbered gainers 219 to five.

Leading the upside was consultancy BayCurrent, up 2.7%, while Sumitomo Metal Mining declined 8.8%.

In economic news, the Bank of Japan held its key policy interest rate unchanged at 0.75%, citing moderate inflation and growth, and geopolitical uncertainties.

Separately, Japan's private-sector non-volatile machinery orders fell a seasonally adjusted 5.5% in January on month, after a 16.1% rise in December, reported the Cabinet Office.

Also, Japan's industrial production in January rose 0.7% from the same month a year ago, reported the Ministry of Economy Trade and Industry (METI).

In Hong Kong, the Hang Seng Index opened lower and drifted, closing down 2% on concerns about global crude supplies.

The broad gauge Hang Seng fell 524.84 to 25,500.58 as losing issues outnumbered gainers 77 to 13. The Hang Seng TECH Index lost 2.2% on the day, while the Mainland Properties Index fell 3.4%.

Leading the upside was state oil-giant CNOOC, gaining 4.5%, while Zijin Mining declined 7.1%.

On the mainland, the Shanghai Composite fell 1.4% to 4,006.55.

It was a sea of red on the other regional exchanges; the S. Korean KOSPI fell 2.7%; the Taiwan TWSE declined 1.9%; the Australian ASX 200 declined 1.7%; the Singapore Straits Times Index fell 0.7%, and the Thai Set declined 1.6%. In late trading in Mumbai, the Sensex was down 3.3%.

The MSCI All Country Asia Pacific Index fell 2.7% on the day.