Asian stocks jump on renewed hopes of Iran war ending

A currency trader reacts near a screen showing the Korea Composite Stock Price Index (KOSPI), right, and the foreign exchange rate between U.S. dollar and South Korean won at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, April 1, 2026. (AP Photo/Ahn Young-joon) 2026-04-01T01:16:11Z HONG KONG (AP) — Asian shares were sharply higher Wednesday after U.S. stocks soared to their best day in almost a year on renewed hopes that the Iran war could soon end.

South Korea’s Kospi recovered its losses from earlier this week, surging 8.1% to 5,461.51, while Tokyo’s Nikkei 225 rose 4.5% to 53,352.96.

A survey by Japan’s central bank released Wednesday showed business sentiment for major Japanese manufacturers improved despite Iran war worries.

Hong Kong’s Hang Seng was up 2% to 25,283.12, while the Shanghai Composite index was trading 1.4% higher at 3,946.67.

Australia’s S&P/ASX 200 was up 2% to 9,650.90.

Taiwan’s Taiex climbed 4.4%, and India’s Sensex rose 2.2%.

U.S. futures were higher.

The renewed optimism over a possible de-escalation of the Iran war, which is in its fifth week, came after U.S.

President Donald Trump said on Tuesday the United States will be done attacking Iran probably in two to three weeks , and that the U.S. “will not have anything to do with” what happens next in the Strait of Hormuz.

The White House said Trump will deliver a public address Wednesday evening on the Iran war.

Trump’s remarks came after he told U.S. allies to “go get your own oil” and blamed them for refusing to be more involved in its war effort.

Significant maritime traffic disruption at the Strait of Hormuz, where roughly a fifth of the world’s oil typically passes through, has sent energy prices surging and is fueling global inflation.

Oil prices are back to rising after an earlier dip.

Brent crude, the international standard, was up 0.7% at $104.66 early Wednesday.

Benchmark U.S. crude rose 1.2% to $102.57.

As the Iran war rattles global energy markets, on Tuesday, U.S. gas prices surged past an average of $4 a gallon , the first time since 2022. “De-escalation hopes have given markets a lift, but we think the effects of the war would, in many cases, persist even if the war did end soon,” wrote Thomas Mathews, head of markets, Asia Pacific at Capital Economics in a research note Wednesday. “It’s worth thinking through how markets might fare if the war were to end ‘very soon,’” he wrote. “Do markets have furthe

原文链接: AP News