Asia-Pacific markets rallied on Wednesday as U.S. President Donald Trump’s comments raised hopes that the Iran war could end soon.
President Trump said on Tuesday that the United States could withdraw from Iran within “a few weeks,” adding: “There’s no reason to do so, so we’re leaving.”
West Texas Intermediate crude oil for May delivery fell 3.5% to $97.79 per barrel as of 3 a.m. ET, while Brent crude oil for June delivery fell 4.8% to $98.56 per barrel.
Korean Kospi It led the region’s gains, jumping 8.44% to end at 5,478.7. The rise was the biggest gain for the Kospi since March 5, with the small-cap Kosdaq rising 6.06% to close at 1,116.18.
This came after data showed South Korea’s exports rose 48.3% in March compared to the same month last year, beating the 44.9% expected in a Reuters poll.
Japanese Nikkei Stock Average Led by financial stocks, the index rose 5.24% to 53,739.68, while the comprehensive stock price index TOPIX rose 4.95% to end at 3,670.9.
In the Bank of Japan’s Tankan survey for the first quarter of 2026, which measures business confidence, the level of optimism among Japan’s major manufacturers rose from 15 to 17. This was higher than the 16 expected by economists polled by Reuters and the highest level since the fourth quarter of 2021.
Business confidence in major non-manufacturing industries was 36, unchanged from the previous quarter and higher than the 33 expected in a Reuters poll.
hong kong Hang Seng Index Mainland China’s CSI300 index rose 1.71% to end at 4,526.06, rising 1.88% in the last hour of trading, supported by basic materials stocks.
China’s manufacturing activity slowed in February, according to a private survey. The RatingDog PMI in February was 50.8, below the 51.6 expected by analysts polled by Reuters, and slowing from February’s 52.1, the highest level in more than five years.
Australia’s S&P/ASX 200 index rose 2.24% to end at 8,671.8, led by gains in education services stocks.
indian nifty 50 As of 1:30 pm local time (4 am ET), the Sensex was up 2.14% and the Sensex was up 2.56%.
U.S. futures also rose, with S&P 500 futures and Nasdaq 100 futures up 0.16% and 0.24%, respectively. Dow futures rose 44 points, or 0.09%.
In the US market overnight, all three major indexes had their best day since May, with the Dow Jones Industrial Average rising 2.49%.
The S&P 500 rose 2.91% and the Nasdaq Composite rose 3.83%.
The move follows unconfirmed reports that Iranian President Massoud Pezeshkian is open to ending the war with guarantees.
—CNBC’s Sean Conlon, Sarah Ming and Lisa Kai-Lai Han contributed to this report.
