Daijiworld Media Network – Hong Kong

Hong Kong, Apr 16: Global stock markets mostly ended higher on Thursday, buoyed by optimism over a possible extension of the ceasefire in the ongoing Iran war and continued diplomatic engagement between the United States and Iran.

European markets opened on a positive note, with the FTSE 100, CAC 40, and DAX each registering gains of around 0.5 per cent in early trade.

Asian markets also witnessed strong momentum. Japan’s Nikkei 225 surged 2.4 per cent to hit a record high, while South Korea’s Kospi climbed 2.2 per cent. Hong Kong’s Hang Seng rose 1.7 per cent and China’s Shanghai Composite gained 0.7 per cent.

China reported a 5 per cent economic growth for the January–March quarter, indicating resilience despite geopolitical tensions, though concerns remain over potential slowdown in exports if global growth weakens.

In Taiwan, the Taiex index rose 1.1 per cent, while shares of TSMC saw marginal gains ahead of its earnings announcement, which later showed a strong rise in profits. Australia’s S&P/ASX 200, however, slipped 0.3 per cent.

Investor sentiment remained sensitive to developments in the US-Iran situation, with reports indicating an in-principle agreement to extend the current ceasefire and hold further talks. However, Scott Bessent cautioned that the US may impose additional sanctions on entities continuing trade with Iran.

Oil prices moved upward, with Brent crude rising 1.4 per cent to USD 96.27 per barrel and WTI crude gaining 1.2 per cent to USD 92.41 per barrel. Prices have remained elevated since the conflict began, particularly with the strategic Strait of Hormuz largely shut.

On Wall Street, the S&P 500 scaled a record high, while the Nasdaq Composite posted strong gains. The Dow Jones Industrial Average, however, edged slightly lower, reflecting mixed but overall positive investor sentiment driven by hopes of easing geopolitical tensions.