SEOUL, April 1 (AJP) - Asian markets rose as ceasefire hopes strengthened after U.S. President Donald Trump signaled a potential de-escalation within weeks, while Iran indicated willingness to end the conflict provided attacks do not resume.
Japan’s Nikkei 225 jumped 5.24 percent to trade at 53,739.68, marking its biggest gain of the year and the fourth-largest on record, as overseas investors bought on easing Middle East tensions.
Semiconductor stocks led the rally, with Kioxia jumping 7.10 percent, Advantest rising 10.67 percent, and Tokyo Electron gaining 5.51 percent. Shares of SoftBank Group and Fujikura also rose more than 5 percent and 9 percent intraday, respectively.
Hong Kong’s Hang Seng Index rose 2.22 percent to 25,339.45. China’s Shanghai Composite Index rose 1.46 percent to 3,948.55, and Taiwan’s TAIEX rose 4.58 percent to 33,174.82.
South Korea’s benchmark KOSPI opened more than 5 percent higher, quickly reclaiming the 5,300 level and triggering a buy-side sidecar in early trade. Gains accelerated through the session, with the index closing at 5,478.70, up 8.44 percent — marking its strongest daily rise since last month.
The rally was driven largely by a rebound in semiconductor shares, which had underperformed in recent sessions. Samsung Electronics jumped 13.4 percent, while SK hynix climbed 10.66 percent, lifting the broader index.
The tech-heavy KOSDAQ also rose sharply, gaining 6.06 percent, to close at 1,116.18, reclaiming the 1,100 level in a single session. Buy-side sidecars were triggered in both markets during intraday trading.
The Korean won strengthened sharply, with the dollar-won exchange rate falling 28.8 won to trade at 1,501.3. U.S. Treasury yields and the dollar fell, and risk assets including equities, gold and cryptocurrencies rose. Verbal intervention by authorities also helped strengthen the won.
Oil prices retreated on rising ceasefire expectations, with West Texas Intermediate dropping more than 4 percent intraday to briefly break below $97 per barrel ahead of U.S. President Donald Trump’s scheduled address at 10 a.m. Thursday Korea time, fueling hopes of a breakthrough in negotiations.
Domestic factors also supported the rally. South Korea’s inclusion in the FTSE World Government Bond Index (WGBI), effective Wednesday, raised expectations of $50 billion to $60 billion in inflows, putting downward pressure on yields and the currency.
Autos and mobility stocks surged, with Hyundai Motor rising 9.54 percent to close at 488,000 won, Kia adding 6.96 percent and closing at 155,300 won, and Hyundai Mobis climbing 8.20 percent to 409,000 won.
Financials also advanced, as KB Financial gained 4.51 percent to 148,300 won, Shinhan Financial rose 6.39 percent to 93,300 won, Mirae Asset Securities jumped 8.12 percent to 66,600 won, and Samsung Life Insurance increased 7.84 percent to 227,000 won.
Industrial and defense-related stocks were strong, with Hanwha Aerospace up 6.73 percent to 1,333,000 won, Hanwha Ocean rising 5.66 percent to 127,000 won, Doosan Enerbility surging 8.50 percent to 99,600 won, and Samsung C&T gaining 7.69 percent to 273,000 won.
Bio and platform shares posted moderate gains, with Samsung Biologics up 4.52 percent to 1,572,000 won, Celltrion rising 4.46 percent to 206,000 won, and Naver adding 4.22 percent to 210,000 won.
Battery and electronics-related stocks also climbed, with LG Energy Solution up 3.17 percent to 407,000 won, Samsung SDI gaining 5.88 percent to 432,000 won, Samsung Electro-Mechanics jumping 9.08 percent to 444,500 won, and SK Square also advanced 7.40 percent to 501,000 won.
HD Hyundai Heavy Industries was the only decliner, slipping 2.90 percent to 451,500 won.
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