As of 9:28 a.m. local time (01:28 GMT), the Shanghai Composite Index of the Shanghai Stock Exchange dropped by 0.41 percent to 2,665.43 points, while the Shenzhen Component Index of the Shenzhen Stock Exchange dropped by 0.45 percent to 7,831.82 points, and the Hang Seng Index of the Hong Kong Stock Exchange decreased by 1.65 percent to 26,050.34 points.
READ MORE: Iran Reportedly Turns Off Oil Tanker Tracking Systems as US Sanctions Loom
In May, Trump announced Washington’s withdrawal from the Iran nuclear agreement and subsequent reinstatement of sanctions that had previously been lifted under the deal. The first round of sanctions against Iran took effect in August.
Later on Monday, the second batch of US restrictions against Iran, is set to come into effect, targeting the country's oil exports.