Top Asia Pacific Breaking News: Morning Edition

NEW YORK (AP) - U.S. stocks recovered much of an early loss amid growing concerns about whether the global economy can withstand spiking prices for oil, which briefly got to nearly $120 per barrel on Monday. Wall Street had initially followed global markets on a steep descent earlier in trading and remains twitchy and quick to reverse amid all the uncertainty caused by the war with Iran. The S&P 500 fell 0.3% after dropping as much as 1.5% in the morning. The Dow Jones Industrial Average was down 336 points, or 0.7%, as of 1:04 p.m. Eastern time, and the Nasdaq composite rose 0.1% after falling as much as 1.5% earlier.

NEW DELHI (AP) - The United States and Iran have offered sharply different accounts of the sinking of an Iranian warship in the Indian Ocean last week, with Washington rejecting Tehran's claim the vessel was unarmed and Iranian officials insisting it was operating in a noncombat role. The United States Indo-Pacific Command on Sunday rejected Iran's claim that the warship IRIS Dena was unarmed when it was sunk in a submarine attack in international waters off Sri Lanka on March 4. In a statement on X, INDOPACOM called Iran's assertion that the vessel was unarmed "false." The response followed strong objections from Tehran, which has repeatedly characterized the warship as defenseless, saying it was returning home after taking part in a naval exercise.

SEOUL, South Korea (AP) - The United States began a large military exercise with South Korea involving thousands of troops Monday while also waging an escalating war in the Middle East. South Korea's Joint Chiefs of Staff has said about 18,000 Korean troops will take part in Freedom Shield, which runs through March 19. U.S. Forces Korea hasn't confirmed the number of American troops participating in the training in South Korea. The allies' combined exercise comes amid South Korean media speculation that Washington is relocating some assets from South Korea to support fighting against Iran. U.S. Forces Korea said last week it would not comment on specific movements of military assets for security reasons.

JAKARTA, Indonesia (AP) - A massive avalanche of garbage at Indonesia's largest landfill killed at least five people and left several others missing after heavy overnight rain triggered a rubbish dump collapse, officials said Monday. More than 300 search-and-rescue personnel, using heavy machinery and sniffer dogs, were deployed to the sprawling dump site late Sunday at the Bantargebang Integrated Waste Treatment Facility in Bekasi, a city just outside the capital of Jakarta. Rescuers worked cautiously amid unstable heaps of waste, said Desiana Kartika Bahari, who heads Jakarta's Search and Rescue Office. She said the victims included two garbage truck drivers and two food stall sellers who had been working or resting near the landfill, while four people managed to escape the disaster.

TOKYO (AP) - Japan is preparing to deploy its first batch of domestically developed long-range missiles, with their launchers arriving at an army camp Monday as the country accelerates its offensive capability in response to rising challenges in the region. The upgraded Type-12 land-to-ship missiles will be deployed at Camp Kengun in Japan's southwestern prefecture of Kumamoto by the end of March, completing the process of deployment, Chief Cabinet Secretary Minoru Kihara said without giving details. Army vehicles carrying the launchers and other equipment arrived past midnight in a highly secretive mission criticized by residents. Dozens of people stood outside of the camp, shouting "Stop long-range missile deployment!" and holding banners carrying messages of protest.

BEIJING (AP) - Two major economic plans unveiled at the annual meeting of China's legislature outline top priorities that have different ramifications for the global economy. In the government plan for 2026, the No. 1 task is "building a robust domestic market." Then comes accelerating technological progress. But longer-term, a plan for the next five years gives more prominence to achieving advances in tech. The subtle difference highlights the government's balancing act. Its overarching goal is to transform from a low-cost manufacturing to a tech-driven economy. But a more immediate concern is dealing with a prolonged period of sluggishness that has depressed consumer and business confidence.

BEIJING (AP) - The annual session of China's National People's Congress is being held in Beijing. This is a photo gallery curated by AP photo editors.

WELLINGTON, New Zealand (AP) - Two teenagers mistakenly left a knapsack containing marijuana and cash at a donation area outside a New Zealand charity shop then returned in a panic to retrieve the bag, police said Monday. A volunteer at the store noticed a pungent aroma before opening the knapsack and finding plastic bags of marijuana amounting to 43.2 grams (1.5 ounces) and 3,700 New Zealand dollars ($2,200) in banknotes, New Zealand Police said in a statement. Using marijuana recreationally and selling the drug are illegal in New Zealand. Some medical use is allowed with a doctor's prescription. Police said the episode happened Feb.

DENPASAR, Indonesia (AP) - A court on Indonesia's resort island of Bali sentenced three Australian citizens on Monday for the fatal shooting of a fellow Australian national in June after they claimed to have been paid by a man they will not identify. Mevlut Coskun, Paea I Middlemore Tupou and Darcy Jenson were convicted of the shooting death of Zivan Radmanovic, a 32-year-old from Melbourne. A second man, 34-year-old Sanar Ghanim, was shot and beaten but survived the attack. Coskun, 22, and Tupou, 27, were sentenced at Denpasar District Court to 16 years in prison and Jenson, 24, was sentenced to 12 years.

DHAKA, Bangladesh (AP) - Bangladesh's police chief said diplomatic efforts are being made with India to arrange the handover of two suspects in the killing of a Bangladeshi political activist whose death sparked protests across the country. Authorities in India said Sunday that a special police team arrested two Bangladesh nationals, Faisal Karim Masud and Alamgir Hossain, during a raid in Bongaon, a city in the North 24 Parganas district of West Bengal state. An Indian court on Sunday ordered them to be held for questioning, the PTI news outlet reported. Bangladesh Inspector General of Police Mohammed Ali Hossain Fakir said Monday that the Ministry of Foreign Affairs was working to transfer the suspects through Bangladesh's extradition treaty with India.