Good News from the Middle East: Japanese and South Korean Stock Markets Hit Records

Japanese and South Korean stock markets hit new all-time highs during trading on Thursday (23/4/2026), following the US stock market’s gains overnight after US President Donald Trump extended a ceasefire that boosted investor sentiment, while optimistic earnings reports also lifted moods.

“Given the fact that the Iranian Government is so divided, it is not surprising and, at the request of Field Marshal Asim Munir, and Prime Minister Shehbaz Sharif, of Pakistan, we have been asked to delay our attack on the country of Iran until their leaders and representatives can put forward a unified proposal,” Trump said in a post on Truth Social.

The ceasefire will be extended until Tehran submits a proposal or discussions conclude, and the US military will continue its blockade of Iranian ports, according to Trump.

However, the timeframe remains uncertain. Iranian state media reported on Wednesday that Tehran’s negotiators would not attend talks with the US, calling them a “waste of time.” The lack of commitment from Iran reportedly prompted Vice President JD Vance to postpone his trip to join peace talks. Meanwhile, the Iranian navy also stated that it had seized two container ships in the Strait of Hormuz.

West Texas Intermediate crude oil prices rose 0.22% to $93.2 per barrel at 20:34 ET. Brent crude oil climbed 0.39% to $102.25 per barrel.

Japan’s Nikkei 225 index reached a new intraday high of 60,013.98, supported by strong gains in technology stocks. SoftBank Group Corp rose more than 6%, while Mitsubishi Industries gained 1.86%.

South Korea’s Kospi index also hit a new intraday high of 6,538.72, up 1.75%. The Kosdaq index for small-cap stocks rose 0.58%. The country’s economy grew more than expected in the first three months of the year, recording the fastest growth since the third quarter of 2020.

The 1.7% growth from January to March compared to the previous quarter exceeded Reuters’ forecast of 1.0% and recovered from a 0.2% contraction in the prior quarter.

Samsung Electronics shares hit a new intraday record at 227,000. Investors are also monitoring employment developments, as the company’s workers’ union estimates more than 30,000 workers will attend a demonstration in South Korea on Thursday, ahead of planned strikes next month.

Australia’s S&P/ASX 200 index fluctuated, rising 0.32%.

Hong Kong’s Hang Seng index futures were at 26,169, compared to the index’s last close at 26,163.24. Investors will closely watch the release of March inflation data for the city.

During Wednesday’s regular trading session, the S&P 500 rose 1.05% and closed at 7,137.90, while the tech-heavy Nasdaq climbed 1.64% to close at 24,657.57. The Nasdaq reached a new intraday all-time high during that session.

Meanwhile, the Dow Jones Industrial Average gained 340.65 points, or 0.69%, closing at 49,490.03.