Asian Stock Markets Move Positively Amid Trump's Threats to Iran

Jakarta, CNBC Indonesia — Asian stock markets were partially closed due to holidays, while those in Japan and South Korea opened higher. Investors are currently monitoring the latest developments in the Middle East conflict over the weekend.

Japan’s Nikkei 225 index rose 0.62%, while the broader Topix index gained 0.23%.

Meanwhile, South Korea’s blue-chip Kospi index climbed 1.8%, and the small-cap Kosdaq index rose 0.98%.

Several Asian markets were closed on Monday for holidays, with Australia, New Zealand, and Hong Kong observing Easter. Mainland China and Taiwan were marking the Qingming Festival, a holiday for cleaning graves.

Citing CNBC Indonesia, US President Donald Trump issued a new threat to attack Iran’s power plants and civilian infrastructure starting Tuesday if Tehran fails to fully reopen the Strait of Hormuz.

This critical chokepoint for oil supplies between Iran and the Arabian Peninsula handles about one-fifth of the world’s oil supply before the US-Israel-Iran war began on 28 February.

Trump hurled profanities via his social media account, vowing to bring “hell” to Iran. The threat was followed by a deadline statement for Tuesday at 20:00 Eastern Time without further explanation.

The White House told MS NOW on Sunday that the date is a new deadline for Iran to reach an agreement with the US.

Trump will hold a press conference with the military in the Oval Office today at 13:00 local time.

Iran rejected Trump’s ultimatum to reopen the Strait of Hormuz, stating that the strategic waterway will only be fully opened after compensation for war damages. Tehran continues to launch attacks on economic targets and infrastructure in the neighbouring Gulf region, including Kuwait’s oil headquarters.

Eight members of the Organization of the Petroleum Exporting Countries (OPEC) and its allies raised their production quotas by 206,000 barrels per day for May on Sunday, though the move appears to be a formality as the war has limited shipments from some members.

For information, the US West Texas Intermediate (WTI) oil price for May rose 2.57% to US$114.11 per barrel. The international benchmark Brent crude rose about 2.62% to US$111.65 per barrel at 19:51 ET.

Meanwhile, Wall Street stock futures plunged overnight as investors continue to monitor developments in the US-Iran conflict and oil prices.

Dow Jones Industrial Average futures fell 253 points, or 0.5%. S&P 500 and Nasdaq-100 futures each dropped 0.6% and 0.7%.