The prospect of an agreement on a ceasefire in the USA-Iran conflict provided tailwind for the Asian stock markets. In China and Hong Kong, trade was suspended due to public holidays.
It closed in Tokyo Nikkei 225 ultimately 0.55 percent higher at 53,413.68 points.
On the Chinese mainland, the listed Shanghai composite most recently 1.00 percent lower at 3,880.10 points, but trading was suspended on Easter Monday due to a public holiday.
There was no trading in Hong Kong, here it was Hang Seng most recently on Thursday 0.70 percent to 25,116.53 units.
In Seoul, the KOSPI climbed by almost 1.4 percent to 5,450 points.
In Asia, stock markets in Japan and South Korea rose on Monday on a report on negotiations over a possible ceasefire in the Middle East. However, optimism was limited given the ongoing mutual threats from the warring parties Iran and the United States and the continued rise in oil prices.
The two countries’ indices have been under pressure since the war began at the end of February because of their dependence on oil from the region. There was no trading in China and Hong Kong on Monday due to a public holiday.
Hope for a ceasefire motivates
Traders attributed the gains in Tokyo and Seoul, among other things, to a report from the US news portal Axios. This had reported that Iran and the United States were negotiating a 45-day ceasefire. However, it is unlikely that a quick agreement will be reached.
Meanwhile, Trump had again threatened the Iranian leadership with violent attacks if they did not give in by Tuesday evening at 8:00 p.m. US Eastern Time (2:00 a.m. CEST on Wednesday). This means that the US government appears to be postponing its ultimatum to Tehran to open the Strait of Hormuz for the third time. But the threats are getting sharper.
“If they don’t do anything by Tuesday evening, no power plant or bridge will remain standing,” Trump told the Wall Street Journal. On his Truth Social platform, the president also used insults to emphasize his demands on Iran. “Open the damn road (of Hormuz) you crazy bastards or you will end up in hell,” he wrote in a post on Easter Sunday.
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SEOUL/TOKYO (dpa-AFX)
