Syria fears hit Asian markets

<p>Asian markets have been badly affected by concerns over Syria.</p>

Fears a war in Syria could be coming have affected Asian stock markets today (August 28th).

Hong Kong's Hang Seng and Australia's ASX 200 were both down by more than one per cent and the Nikkei dropped to a two-month low after it lost 1.5 per cent of its value. It was the third day in a row the Nikkei was down.

US and European markets were down on Tuesday over fears military action over Syrian leader Bashar al-Assad's alleged use of chemical weapons is inevitable. More than 300 people were reported to have been killed in the attack, which occurred in the capital city Damascus.

"If Syria becomes drawn out and becomes a long-term issue, it's going to show up in things like gas prices,'' said Chris Costanzo, an investment officer with Tanglewood Wealth Management.

US president Barack Obama is set to outline the country's plans for Syria in the coming days and the UK Parliament has been recalled to debate the issue as well.

Secretary of State John Kerry has already described the alleged chemical weapons attack as a "moral obscenity".

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