Stocks sink, oil jumps after Israeli attack on Iran

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The son of Deputy Public Health Minister Santi Promphat was slapped with four months in jail and an 8,000 baht fine for driving under the influence, the Office of the Attorney-General said on Friday.

TOKYO: Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.

Iran said it shot down several drones and there had been no missile attack, after explosions were heard near the central city of Isfahan, close to several nuclear sites. Those reactors were not damaged, state TV reported.Fears of an Iranian response eased after the Israeli military said that warning sirens which sounded early on Friday in northern Israel were a false alarm.

"The lack of clarity on...what Iran might do next will keep investors nervous and market volatile for now, at a time when investors are faced with significant inflation and interest rate uncertainties as well," said Vasu Menon, managing director of investment strategy at OCBC. Israeli Prime Minister Benjamin Netanyahu had vowed retaliation earlier this week after Iran launched hundreds of drones and missiles in an unprecedented direct attack on Israel on April 13.

Chip-sector stocks were hit particularly hard by both the outlook for protracted tight monetary policy and investor disappointment at Taiwan Semiconductor Manufacturing Co's decision to leave capital spending plans unchanged. The stock slumped as much as 6.6%.

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