Asian shares surged Thursday, led by Tokyo's Nikkei 225 jumping 5.7% to a record high, as investors bet on a possible US-Iran agreement to reopen the Strait of Hormuz for oil tankers. The waterway's effective closure during the conflict has disrupted global oil flows and fueled inflation.
Markets rallied Wednesday after Donald Trump signaled a breakthrough with Iran was close. Oil prices steadied after a sharp sell-off, with Brent crude at $101.78 a barrel. Despite the optimism, tensions remain high after a US military strike on an Iranian tanker in the Gulf of Oman.
Japan's Nikkei 225 surged 3,402 points to 62,915.87, driven by AI-related tech stocks. Hong Kong's Hang Seng rose 1.3%, and Australia's S&P/ASX 200 added 0.9%. European futures pointed higher.
On Wall Street, the S&P 500 hit a record high, supported by strong earnings. Advanced Micro Devices jumped 18.6%, Super Micro Computer soared 24.5%, and NVIDIA rose 5.7%. CVS Health gained 7.6%, and Disney climbed 7.5% on Zootopia 2 anticipation.
The dollar edged down to 156.32 yen, and gold traded at $4,706.70.