Asian markets surged on Thursday, driven by investor optimism over a possible easing of tensions in the Middle East and a decline in oil prices.
In Tokyo, the Nikkei index crossed the 62,000-point mark for the first time in its history after a long weekend, supported by strong performances from the technology sector and solid corporate earnings.
The bullish momentum also spread to South Korean markets, where several indices reached new all-time highs.
The MSCI Asia-Pacific index excluding Japan rose by around 1%, bringing its weekly gain to nearly 7%.
In China, major indices opened higher. The Shanghai Composite gained 0.2% to 4,168.45 points, while the Shenzhen Component rose 0.53% to 15,541.3 points.
Investors remain focused on discussions surrounding a potential peace agreement in the Middle East.
Senior financial analyst at Capital.com, Kyle Rodda, warned that current optimism remains fragile, noting that a deal would represent “a major turning point,” but markets could quickly reverse course.
Iran said it is reviewing a proposal aimed at ending the conflict, while key issues remain unresolved, particularly US demands regarding Iran’s nuclear program and the status of the Strait of Hormuz.
This strategic maritime route continues to be a major concern for global energy markets.
Oil prices continued to retreat following Wednesday’s sharp decline. Brent crude traded around $102.11 per barrel during early Asian trading.
Despite the pullback, crude prices remain roughly 40% higher than before the conflict began, highlighting persistent tensions in global energy markets.
