Oil prices surge, Asian stocks tumble after Trump speech

Oil prices climbed sharply while Asian stocks sold off on Thursday after U.S. President Donald Trump on Wednesday threatened to hit Iran "extremely hard over the next two to three weeks."

As concerns over geopolitical uncertainty intensify on Thursday, Brent crude jumped 6.9 percent to 108.15 U.S. dollars per barrel, with West Texas Intermediate (WTI) crude oil futures rising over 5 percent to 105.3 U.S. dollars per barrel.

Asian stocks tumbled on Thursday following Trump's Wednesday remarks.

Japan's Nikkei 225 was down 2.4 percent to 52,463.27. The TOPIX index fell 1.6 pct to 3,611.67.

South Korea's benchmark Korea Composite Stock Price Index fell 4.5 percent to 5,234.05.

India's Sensex and Nifty 50 futures lost around 2 percent.

Oil prices surge, Asian stocks tumble after Trump speech

Hong Kong's stock market ended lower Thursday with the benchmark Hang Seng Index down 0.7 percent to close at 25,116.53 points.

The Hang Seng China Enterprises Index fell 0.56 percent to end at 8,456.92 points, and the Hang Seng Tech Index fell 1.63 percent to end at 4,679.1 points.

Hong Kong stocks close 0.7 pct lower

Hong Kong stocks close 0.7 pct lower