South Korea’s Kospi opened more than 5% higher Tuesday, leading a rebound in the region, after oil prices fell and Wall Street bounced back as U.S. President Donald Trump signaled the conflict with Iran could be nearing its end.
In Japan, the Nikkei 225 shot higher 1,519.67 points, or 5.2%, to 52,728.72,
In Hong Kong, the Hang Seng regained 551.44 points, or 2.2%, to 23,959.90.
Travel-related stocks also rebounded. Hong Kong-listed shares of Air China rose nearly 3%, while China Eastern Airlines added 2.9%. China Southern Airlines gained 2.85%. Singapore Airlines rose 1.54%.
Oil prices fell over 10% after Trump said he was considering seizing control of the Strait of Hormuz, the most important chokepoint in world for the crude market. Trump also told a CBS News reporter, who shared the comments in a post on X, that “the war is very complete, pretty much.”
The biggest disruption before the current war was during the Suez Crisis of 1956 when Britain, France and Israel invaded Egypt’s Sinai Peninsula, the energy consulting firm told clients in a Sunday note. At that time, roughly 10% of global oil supply was disrupted.
In other markets
The CSI 300 regrouped 59.3 points, or 1.3%, to 4,674.76
In Korea, the Kospi index restocked 280.72 points, or 5.4%, to 5,532.59
In Singapore, the Straits Times Index heightened 104.03 points, or 2.2%, to 4,860.64.
In Taiwan, the Taiex index recovered 661.45 points, or 2.1%, to 32,771.87.
In Australia, the ASX advanced 93.55 points, or 1.1%, to 8,692.59.
In New Zealand, the NZX 50 dipped 4.46 points to 13,094.37.
