Asia-Pacific Stocks Rise

(MENAFN) Markets across the Asia-Pacific region generally moved upward on Friday, as improving sentiment followed indications of a potential partial reopening of the Strait of Hormuz. This development helped calm investor fears about possible interruptions to global energy transport and contributed to a more positive trading atmosphere.

Confidence strengthened after Islamic Republic News Agency reported that Iran, in cooperation with Oman, is preparing a framework to oversee passage through the crucial maritime corridor. The news signaled progress toward stabilizing operations in one of the world’s most vital oil transit routes.

Kazem Gharibabadi, Iran’s deputy foreign minister responsible for legal and international matters, stated that tanker movement through the strait “should be supervised and coordinated” between the two nations, according to the report. His remarks underscored efforts to ensure structured and secure navigation in the area.

This update fueled hopes that the essential oil shipping channel might partially resume activity, especially after energy markets experienced volatility a day earlier, marked by steep price surges ahead of the Good Friday holiday shutdown.

In regional stock performance, South Korea’s Kospi index recorded the strongest gains, climbing by 2.83%. Meanwhile, South Korean President Lee Jae Myung was expected to hold talks with French President Emmanuel Macron later that day. The meeting was anticipated to upgrade bilateral relations to a “Global Strategic Partnership,” representing the first enhancement of this level in over two decades, as noted by the presidential office.

Japanese equities also posted gains, with the Nikkei 225 increasing by 1.32% and the broader Topix index advancing 0.88%, largely driven by strength in energy-related stocks.

Conversely, Chinese markets showed weakness. The CSI 300 index erased earlier progress to decline by 0.77%, while the Shanghai Composite index fell by 0.94%, reflecting a more cautious outlook among investors in mainland China.

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