Asia-Pacific markets rebounded Wednesday after statements from U.S. President Donald Trump raised hopes that the Iran war could end soon.
In Japan, the Nikkei 225 regained handsomely, restoring 2,675.96 points, or 5.2%, to 53,739.68.
The Bank of Japan’s Tankan survey for the first quarter of 2026, which measures business sentiment, showed optimism among large Japanese manufacturers rising to 17 from 15.
That beat expectations of 16 from economists polled by Reuters and reached its highest level since the fourth quarter of 2021.
Large non-manufacturers’ business sentiment stood at 36, unchanged from the previous quarter and above Reuters poll expectations of 33.
In Hong Kong, the Hang Seng leaped 505.89 points, or 2%, to 25,294.03, powered by basic materials stocks.
On Tuesday stateside, Trump said the U.S. could leave Iran in “two or three weeks,” adding “We leave because there’s no reason for us to do this.”
U.S. West Texas Intermediate crude for May delivery was down 3.5% at $97.79 a barrel as of 3 a.m. ET, while Brent contract for June delivery had tumbled 4.8% to $98.56 a barrel.
South Korea’s Kospi led gains in the region. The gain was the Kospi’s largest gain since March 5.
This came after data showed South Korean exports in March jumped 48.3% from a year earlier, beating Reuters poll estimates of 44.9%.
Australia also enjoyed hefty gains Wednesday, driven by a rise in educational services stocks.
CHINA
In Shanghai, the CSI 300 recovered 76.02 points, or 1.7%, to 4,526.07.
According to a private survey, China’s manufacturing activity slowed in February. The RatingDog PMI came in at 50.8 in February, missing Reuters-polled analysts’ forecast for 51.6 and slowing from a more than 5-year high of 52.1 in February.
In other markets
In Korea, the Kospi index heightened 426.24 points, or 8.4%, to 5,478.70
In Singapore, the Straits Times Index restocked 90.38 points, or 1.9%, to 4,975.83
In Taiwan, the Taiex index hiked 1,451.83 points, or 4.6%, to 33,174.82.
In Australia, the ASX gained 190.01 points, or 2.2%, to 8,671.79.
In New Zealand, the NZX 50 fell 86.24 points, or 0.7%, to 12,825.87.
