On Friday (3 April, 9:21 AM, GMT+7, Bangkok time), major indices in the Asia Pacific traded mixed as Iran and Oman were reportedly working together on plans to oversee transit through the Strait of Hormuz. This development raised expectations that a limited reopening of the vital shipping corridor could be possible.
According to statements by Iranian official Kazem Gharibabadi, discussions are ongoing between the two countries to create a protocol for supervising tanker passage through the key route for global oil shipments.
Trading volumes were lower than usual, with exchanges in Australia, Hong Kong, New Zealand, Singapore, the Philippines, and Indonesia closed for Good Friday and the Easter holidays.
In the United States, equity markets are also closed for Good Friday, but the government is expected to release several economic indicators, including data on March nonfarm payrolls.
Japan’s NIKKEI advanced by 1.13% to 53,056.00, and South Korea’s KOSPI expanded by 2.28% to 5,353.26.
As for stocks in China, Shanghai’s SSEC dropped by 0.66% to 3,893.33, and Shenzhen’s SZI declined by 0.41% to 13,432.06.
The U.S. stock markets were mixed on Thursday as NASDAQ surged by 0.18% to 21,879.18. S&P 500 gained 0.11% to 6,582.69, while the Dow Jones Industrial Average (DJIA) slid by 0.13% to 46,504.67. VIX plummeted by 2.73% to 23.87.
As for commodities, oil prices settled higher on Thursday amid concerns about prolonged interruptions to oil shipments after President Donald Trump stated that the U.S. would maintain its military actions against Iran. Brent crude had risen $7.87, or 7.78%, reaching $109.03 per barrel. U.S. West Texas Intermediate crude climbed $11.42, or 11.41%, to settle at $111.54 a barrel.
Meanwhile, gold futures tumbled by 2.29% to $4,702.70 per Troy ounce.
