On Wednesday (1 April, 9:35 AM, GMT+7, Bangkok time), major indices in the Asia Pacific exhibited a sharp upward trend as statements from U.S. President Donald Trump pointed to a potential end to the Iran conflict, supporting risk sentiment among investors.
Trump indicated on Tuesday that the United States might withdraw from Iran within the next two to three weeks. This stance helped drive a rally in Asian shares at the start of trading, following similar gains on Wall Street, as hopes grew that the tension could soon be resolved.
Attention is also turning to how policymakers will address higher energy costs and continuing supply chain issues, as well as whether upcoming first-quarter earnings reports will reveal further economic pressures resulting from the conflict.
Notably, Trump is set to deliver an update on Iran later Wednesday. He stated that a deal with Iran remains possible, though such an agreement is not a prerequisite for the U.S. to end its military involvement. Meanwhile, Tehran has maintained its position, insisting that hostilities will only cease when its five stated conditions are met.
Japan’s NIKKEI jumped by 4.10% to 53,157.68. South Korea’s KOSPI soared by 6.39% to 5,375.11, and Australia’s ASX 200 rose by 1.73% to 8,628.60.
As for stocks in China, Shanghai’s SSEC grew by 1.37% to 3,945.04. Shenzhen’s SZI advanced by 1.33% to 13,657.48, and Hong Kong’s HSI surged by 1.96% to 25,273.55.
The U.S. stock markets edged up on Tuesday as the Dow Jones Industrial Average (DJIA) gained 2.49% to 46,341.51. NASDAQ expanded by 3.83% to 21,590.62, and S&P 500 escalated by 2.91% to 6,528.52. VIX plummeted by 17.51% to 25.25.
As for commodities, oil prices were mixed on Tuesday, with Brent crude futures for June delivery dropping over $3 amid media reports suggesting Iran may be open to halting hostilities if certain conditions are met. In contrast, Brent’s May contract finished the day at $118.35 per barrel, up $5.57, or 4.94%. Meanwhile, U.S. crude futures closed lower by $1.50, or 1.46%, settling at $101.38 per barrel.
For this morning, Brent futures contract for June increased $1.44, or 1.39%, to $105.41 per barrel, and the WTI contract for May climbed $1.32, or 1.30%, to $102.70 per barrel.
Meanwhile, gold futures added 0.91% to $4,689.80 per Troy ounce.
