Asia-Pacific markets showed a mostly positive trend on Friday, buoyed by reports that Iran and Oman are working on a protocol to monitor transit activities through the crucial Strait of Hormuz. This development has sparked optimism that the vital oil route may soon see a partial reopening. Kazem Gharibabadi, Iran’s deputy foreign minister of legal and international affairs, emphasized the need for “supervision and coordination” of tanker traffic in the region, as reported by the Iranian state news agency IRNA.
Oil prices experienced a significant surge ahead of the Good Friday holiday, with U.S. crude futures climbing nearly 12% to reach $112.06 per barrel. Global benchmark Brent crude also surged, demonstrating an 8% increase to trade at $109.24. Notably, the spot price for Brent crude oil hit $141.36 on Thursday, marking its highest level since the 2008 financial crisis, according to S&P Global.
In regional market activity, South Korea’s Kospi index led the gains, jumping 1.75%, while the smaller-cap Kosdaq index saw a slight decline of 0.16%. On Friday, South Korean President Lee Jae Myung is set to meet with French President Emmanuel Macron in a significant summit. This meeting is expected to elevate the bilateral relationship to a “Global Strategic Partnership,” the first upgrade in 22 years. Reports from The Korea Times indicate that discussions will focus on enhancing cooperation in trade, investment, and emerging sectors like artificial intelligence, nuclear energy, and space exploration.
Japan’s Nikkei 225 index rose 0.91%, driven by strong performances in consumer non-cyclical stocks. The broader Topix index saw a gain of 0.65%, bolstered by energy stocks. Finance Minister Satsuki Katayama commented on the substantial impact of U.S. President Donald Trump’s address on Wednesday, noting increased speculative activity in crude oil futures and currency markets. Yields on Japanese government bonds also reached new heights, with the two-year JGB yield hitting 1.391%, its highest since 1995, while the benchmark 10-year JGB bond yield rose to 2.399%, the highest point since 1999.
In contrast, China’s CSI 300 index fell by 0.47%, reversing earlier gains. Meanwhile, markets in Australia and Hong Kong were closed in observance of the Easter holiday. U.S. futures showed minimal changes, with S&P 500 futures remaining flat, while Nasdaq-100 futures dipped by 0.07%. Futures associated with the Dow Jones Industrial Average saw a slight uptick of 9 points, or 0.02%. Overnight trading in the U.S. exhibited volatility related to rising oil prices, although major indexes ended the session with minimal changes. The Dow fell by 61.07 points, or 0.13%, while the S&P 500 gained 0.11%, and the Nasdaq Composite advanced by 0.18%.
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Original Source: https://www.cnbc.com/2026/04/03/asia-markets-live-hormuz-iran-oil-prices-nikkei-225.html
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Publish Date: 2026-04-03 08:27:00
