Asia Stocks Rise as Tech Gains Lift Japan and South Korea
Japanese and South Korean stocks moved higher on Friday in thin holiday trading, supported by strong gains in technology shares. Investors remained focused on developments in the ongoing U.S.-Iran conflict.
Muted Global Markets Amid Holiday Closures
Wall Street ended the previous session largely unchanged, while U.S. futures showed little movement during Asian trading hours. Regional activity remained subdued, as major markets including Hong Kong, Australia, and Singapore were closed for the Good Friday holiday.
Nikkei and KOSPI Lead Regional Gains
Japan’s Nikkei 225 rose by 1.2%, while South Korea’s KOSPI surged nearly 3%, driven primarily by strength in the technology sector. The rally helped stabilize sentiment after recent volatility.
Geopolitical Developments Keep Investors Cautious
Market sentiment improved slightly after Iran indicated it was working with Oman to establish a framework for managing shipping traffic through the Strait of Hormuz.
However, caution persisted following renewed escalation rhetoric from U.S. President Donald Trump. In a late post, Trump warned that U.S. military operations against Iran could intensify, potentially targeting key infrastructure such as bridges and power facilities.
Earlier remarks also suggested a possible expansion of military action in the coming weeks, adding uncertainty to the global outlook.
Oil Prices Surge on Escalation Fears
Oil prices climbed above $110 per barrel as concerns over supply disruptions increased. The rise reflects growing fears that the conflict could impact one of the world’s most critical energy routes.
China Markets Weaken as Services Growth Slows
In China, fresh economic data showed that services sector growth moderated in March. The RatingDog Services PMI declined to 52.1 from February’s 33-month high of 56.7, although it remained in expansion territory.
Chinese equities reacted negatively, with the Shanghai Composite falling 0.9% and the CSI 300 index slipping 0.6%.
Focus Turns to US Jobs Data
Investors are now turning their attention to the upcoming U.S. nonfarm payrolls report, which is expected to provide further clues on the Federal Reserve’s next policy moves.
