Ignoring War Sentiment, Majority of Asian Stock Markets Rise

Asian stock markets mostly rose, with Japan’s stock indices leading the highest gains. Investors appeared to ignore US President Donald Trump’s threats against Iran for the first time.

Japan’s stock indices rose more than 3.72% on Thursday, with the benchmark Nikkei 225 breaking through 61,000. Meanwhile, the Topix index rose 1.91%. In Australia, the S&P/ASX 200 index rose more than 1%.

Next, South Korea’s Kospi index rose 1.17%, while the Kosdaq index for small-capitalisation stocks fell 0.4%.

Hong Kong’s Hang Seng Index futures contract was at 26,423, compared to the previous close of 26,213.78.

Citing CNBC Indonesia, the widespread rise in indices across the region occurred after President Donald Trump warned that Iran would be bombed with greater severity if the country fails to agree to a peace deal.

Trump’s new threat emerged as reports indicated that Washington and Tehran were close to reaching an agreement to end the war.

Through his Truth social media account, the US President stated that the US military operation known as Operation Epic Fury would end if Iran agrees to provide what has been agreed upon.

Trump said that if this happens, the US naval blockade of Iranian ports in the Gulf of Oman would open the Strait of Hormuz to everyone, including Iran.

For information, the price of the West Texas Intermediate (WTI) futures contract for June delivery rose 0.92% to $95.95 per barrel at 19:19 ET.

US stock futures were relatively stable. S&P 500 futures and Nasdaq 100 futures both fell around 0.1%. Futures related to the Dow Jones Industrial Average fell 35 points, or less than 0.1%.

Overnight in the US, share prices rose following developments in the Middle East.

The S&P 500 rose 1.46% to 7,365.12, while the Nasdaq Composite rose 2.02% and closed at 25,838.94. Both indices hit new highs and closed at record highs. The Dow Jones Industrial Average rose 612.34 points, or 1.24%, and closed at 49,910.59.