Asian stocks fell sharply in early trade on Tuesday and oil prices rose as the Middle East crisis further escalated with US President Donald Trump threatening to destroy Iran's main export terminal.

In Hong Kong, the benchmark Hang Seng Index gained 67 points, or 0.27 percent, to open at 24,818 before falling into negative territory at 24,716 at one point shortly after that.

The China enterprises index was 12 points, or 0.15 percent, higher at 8,411 while the tech index was three points, or 0.1 percent, higher at 4,693.

Up north, the benchmark Shanghai Composite Index opened up 0.02 percent at 3,924.

The Shenzhen Component Index was 42 points, or 0.31 percent, lower at 13,683 while the ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, was down 0.8 percent to open at 3,247.

In Tokyo, the 225-issue Nikkei Stock Average opened down 503 points, or 0.97 percent, at 51,382. The benchmark regained ground to be 86 points, or 0.17 percent, down at 51,799 at one point before noon.

In Seoul, the Korea Composite Stock Price Index opened down 133 points, or 2.53 percent, at 5,143. Like the Nikkei, the Kospi clawed back some of its losses, but was still down 80 points, or 1.53 percent, before noon at 5,192. (Xinhua & AFP)



Edited by Raymond Yeung