NextFin News -- South Korea and Japan were worst performers across Aisan stock markets on Friday amid the fear of little de-escalation of the Iran war.

South Korea’s KOSPI index lost about 1.2% while Japan’s broader TOPIX shed 0.6%. Honda Motor Co Ltd (TYO:7267) tumbled by over 6%, after the Japanese automaker forecast an annual loss due to restructuring costs associated with its electric vehicle business.

The Nikkei was trading down 3.3% this week, while the KOSPI was headed for a 1.4% decline. Asian markets were disrupted by worries over crude oil supply shortages with the end of the Iran conflict invisible.

Tehran blocked the Strait of Hormuz in response to U.S. and Israeli air strikes that started on February 28. South Korea and Japan are heavily dependent on crude imports from the Middle East, with a prolonged supply shortage expected to cause major economic disruptions.

South Korea, Japan and India are most affected by the prolonged conflict between the U.S./Israel and Iran. India’s Nifty 50 index was headed for a 2.4% loss this week.

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