On Thursday (23 April, 9:08 AM, GMT+7, Bangkok time), most major indices in the Asia Pacific displayed a downward trend. Equities in Japan and South Korea surged to record levels, mirroring positive momentum from Wall Street following President Donald Trump’s recent decision to prolong the ceasefire with Iran. This announcement, combined with encouraging corporate earnings, contributed to improved investor confidence.
President Trump said the extension came after requests from Pakistan’s Field Marshal Asim Munir and Prime Minister Shehbaz Sharif, stressing that Iran’s government remained divided. On the other hand, Iranian state media reported that negotiators would not engage in talks with the United States, calling such discussions futile, while it remains uncertain how long the ceasefire will last or whether further diplomatic steps will follow.
Market participants are now monitoring prospects for renewed negotiations related to Iran. The ongoing closure of the Strait of Hormuz continues to keep energy prices elevated, presenting inflationary risks and putting potential pressure on global economic activity.
Despite persistent geopolitical uncertainty, equity markets have found support from strong earnings results. U.S. semiconductor stocks extended their rally for a 16th consecutive session, while investor enthusiasm around artificial intelligence and signs of underlying economic resilience have continued to underpin stock valuations.
In the region, South Korea’s economy posted robust growth in the first quarter, expanding by 1.7% compared to the previous three months. This marked the fastest pace since the third quarter of 2020 and surpassed market expectations, which had projected a 1.0% increase.
Japan’s NIKKEI declined by 0.51% to 59,283.11. Australia’s ASX 200 fell by 0.66% to 8,785.50, while South Korea’s KOSPI jumped by 1.44% to 6,510.49.
As for stocks in China, Shanghai’s SSEC decreased by 0.39% to 4,090.16. Shenzhen’s SZI diminished by 0.69% to 15,072.79, and Hong Kong’s HSI slumped by 1.03% to 25,895.00.
The U.S. stock markets edged up on Wednesday as the Dow Jones Industrial Average (DJIA) rose by 0.69% to 49,490.03. NASDAQ soared by 1.64% to 24,657.56, and S&P 500 advanced by 1.05% to 7,137.90. VIX dropped by 2.97% to 18.92.
As for commodities, oil prices settled higher following unexpected declines in U.S. gasoline and distillate inventories. The session also saw support after reports emerged of gunfire incidents targeting at least three container ships passing through the Strait of Hormuz. Brent crude finished the day $3.43 higher, closing at $101.91 a barrel, up 3.48%. U.S. West Texas Intermediate crude settled with a gain of $3.29, ending at $92.96, marking a rise of 3.67%.
This morning, Brent futures gained 32 cents or 0.31% to $102.23 per barrel, and the WTI futures added 52 cents or 0.56% to $93.48 per barrel.
Meanwhile, gold futures dipped by 0.26% to $4,740.60 per Troy ounce.
