Asian stock markets moved higher on Tuesday, following strong gains on Wall Street. Meanwhile, oil prices declined as optimism grew over a potential second round of negotiations between the United States and Iran aimed at easing tensions in the ongoing conflict.
To begin with, Japan’s Nikkei 225 surged 2.4% to close at 57,842.72. Similarly, South Korea’s Kospi posted a sharp increase of 3.4%, reaching 6,004.30. In addition, Hong Kong’s Hang Seng index edged up 0.4% to 25,759.75, while China’s Shanghai Composite rose 0.6% to 4,010.45.
However, economic data from China painted a less encouraging picture. The country reported export growth of just 2.5% in March, which fell short of expectations and marked the first full month of trade activity since the Iran conflict began.
Elsewhere in the region, Australia’s S&P/ASX 200 gained 0.3%, while Taiwan’s Taiex climbed 2.2%, reflecting broadly positive investor sentiment across Asia.
At the same time, investors remain hopeful for a sustained de-escalation in the Iran conflict, now entering its seventh week. Reports suggest that the U.S. and Iran are considering a second round of talks before a temporary ceasefire agreement expires next week.
Nevertheless, tensions remain elevated. On Monday, the U.S. military initiated a blockade of Iranian ports, signaling increased pressure from Washington after weekend ceasefire discussions failed to produce an agreement. Even so, U.S. President Donald Trump indicated that diplomatic engagement remains possible, stating that the U.S. had been contacted by the opposing side, although he did not provide further details.
Meanwhile, U.S. markets closed higher on Monday. The S&P 500 rose 1% to 6,886.24, while the Dow Jones Industrial Average gained 0.6% to 48,218.25. The Nasdaq Composite also performed strongly, climbing 1.2% to 23,183.74.
Despite the broader market gains, shares of Goldman Sachs slipped 1.9%, even after the investment bank reported better-than-expected quarterly earnings.
In commodities trading, precious metals saw gains. Gold prices increased by 0.6% to $4,796.60 per ounce, while silver jumped 1.8% to $77.05 per ounce.
In currency markets, the U.S. dollar weakened slightly against the Japanese yen, falling to 159.08 from 159.45. Meanwhile, the euro edged higher to $1.1768 from $1.1759.
