Asia-Pacific markets extended gains on Thursday, following a positive lead from Wall Street overnight as investors positioned cautiously ahead of a closely watched address from U.S. President Donald Trump on the conflict with Iran.
By 11:30 am AEDT, Australia’s S&P/ASX 200 had risen 0.4%, while Japan’s Nikkei 225 gained 0.8%, and South Korea’s KOSPI 200 added 0.9%.
Attention remained firmly on geopolitical developments after Trump said that Iran’s “New Regime President” had requested a ceasefire, a claim that has been denied by Tehran.
In a post on Truth Social, Trump stated that the United States would only consider such an offer if the Strait of Hormuz was “open, free, and clear”.
Among economic releases, South Korean consumer prices rose 2.2% year-on-year in March, slightly above the government’s 2% target and marking the fastest pace since December, while coming in slightly below market expectations of 2.4%.
The increase was driven largely by higher fuel costs, with diesel and gasoline prices climbing 17% and 8% respectively compared to a year earlier, according to official data.
The regional gains followed a strong session in the United States, where all three major benchmarks closed higher.
The Dow Jones Industrial Average rose 0.5%, while the S&P 500 added 0.7% and the Nasdaq Composite gained 1.2%, supported by easing oil prices and hopes for a de-escalation in the Iran conflict.
In commodities, oil prices retreated after recent volatility. Brent crude fell 2.7% to settle at $101.16 per barrel, while gold prices moved higher, with spot gold rising 1.9% to $4,758.18 per ounce.
Across other global markets, Chinese equities posted solid gains on Wednesday, with the Shanghai Composite Index rising 1.5% to 3,948.6 and the CSI 300 advancing 1.7% to 4,526.1.
Hong Kong’s Hang Seng Index climbed 2% to 25,294.0, while India’s BSE Sensex gained 1.7% to finish at 73,134.3.
European markets also ended the session higher. The UK’s FTSE 100 rose 1.9% to 10,364.8, Germany’s DAX advanced 2.7% to 23,298.9, and France’s CAC 40 added 2.1% to close at 7,981.3.
