Asian stocks rise on hopes of Iran conflict de-escalation

Asian equity markets moved higher on Friday, April 3, following gains on Wall Street as investor sentiment improved on expectations that the conflict involving Iran could ease, even as oil prices continued to climb.

Japan’s benchmark Nikkei 225 index rose 1.4% as of 10:24 a.m. local time, while South Korea’s Kospi jumped 3%. Trading in Hong Kong was closed for a public holiday, as per CNN.

Despite the rebound, analysts cautioned that volatility in both equity and oil markets is likely to persist without a clear resolution to the Middle East conflict.

US President Donald Trump said in a national address on Wednesday, April 1, that the United States would strike Iran “extremely hard” within the next two to three weeks, but did not provide details on any potential exit strategy.

By Tamilla Hasanova