On Tuesday (17 March, 9:13 AM, GMT+7, Bangkok time), major indices in the Asia Pacific exhibited an upward trend as investors kept a close watch on the ongoing conflict in the Middle East, which has prompted U.S. President Donald Trump to delay a planned meeting with Chinese President Xi Jinping. The summit, originally scheduled for the end of March, is now expected to be postponed by approximately one month.
Trump has renewed calls for allied nations to help secure the Strait of Hormuz, a vital shipping route, amid persistent worries about supply constraints and inflationary pressures. He voiced disappointment that several countries have not publicly committed to supporting U.S. efforts to maintain the flow of vessels through the strait. Meanwhile, the International Energy Agency has indicated readiness to deploy further emergency reserves if conditions demand.
Treasury Secretary Scott Bessent told CNBC that additional measures to address elevated oil prices would depend on the duration of the conflict. He suggested that prices could fall below $80 per barrel within a couple of months if tensions ease.
This week, investors are also closely tracking a series of major central bank decisions. The U.S. Federal Reserve is widely expected to leave its rates unchanged at its meeting on Wednesday. The Bank of England and the European Central Bank are also slated to make policy announcements. At the same time, the Reserve Bank of Australia is expected to increase its policy rate to 4.1%, the highest level since April 2025.
Japan’s NIKKEI rose by 0.56% to 54,051.79. South Korea’s KOSPI jumped by 2.50% to 5,688.33, and Australia’s ASX 200 grew by 0.02% to 8,585.40.
As for stocks in China, Shanghai’s SSEC increased by 0.28% to 4,096.02. Shenzhen’s SZI added 0.29% to 14,348.62, and Hong Kong’s HSI advanced by 1.29% to 26,167.49.
The U.S. stock markets edged up on Monday as the Dow Jones Industrial Average (DJIA) gained 0.83% to 46,946.41. NASDAQ surged by 1.22% to 22,374.17, and S&P 500 soared by 1.01% to 6,699.38. VIX plummeted by 13.53% to 23.51.
As for commodities, oil prices surged as supply concerns emerged following a near-closure of the Strait of Hormuz and limited naval support from U.S. allies for tanker escorts. Brent crude contracts advanced by $2.75, an increase of 2.74%, bringing the price to $102.96 per barrel. U.S. West Texas Intermediate crude also moved higher, gaining $2.39, or 2.56%, to reach $95.89 a barrel.
This recovery followed steep declines in the prior session, when Brent dropped 2.8%, and WTI fell 5.3%, after reports that several vessels had managed to navigate the Strait of Hormuz.
Meanwhile, gold futures climbed by 0.57% to $5,030.50 per Troy ounce.
