Asia-Pacific Markets Rise as Hormuz Disruptions Keep Oil Volatile

Asia-Pacific markets mostly rose on Friday, even as ongoing disruptions in the Strait of Hormuz kept oil prices volatile and investors cautious.

South Korea’s Kospi index gained nearly 1.7%, while Japan’s Nikkei 225 advanced about 1.5%. Hong Kong’s Hang Seng Index and China’s CSI 300 also posted gains. In contrast, Australia’s S&P/ASX 200 declined slightly.

Investor sentiment remained sensitive to developments in the Middle East, where a fragile ceasefire between the United States and Iran has yet to fully restore shipping activity through the critical oil transit route.

Donald Trump said Iran should stop any attempts to charge fees on oil tankers passing through the strait, while Iranian officials accused Washington of breaching ceasefire terms.

Oil prices remained elevated amid limited vessel movement. Brent crude rose modestly to around $96 per barrel, while US West Texas Intermediate (WTI) hovered near $97 after briefly crossing $100 earlier in the session.

The Strait of Hormuz, a key artery for global energy supplies, has seen restricted traffic despite the ceasefire, raising concerns about prolonged supply disruptions.

Japan said it plans to release part of its strategic oil reserves starting May to stabilize domestic supply. The country currently holds reserves sufficient for more than 200 days.

Elsewhere, India’s Nifty 50 and China’s major indices recorded gains, supported by economic data and expectations of policy support.

Overnight on Wall Street, US markets also closed higher, with the S&P 500, Nasdaq Composite, and Dow Jones Industrial Average posting moderate gains.

Analysts said markets are likely to remain volatile as geopolitical tensions and energy supply concerns continue to influence global investor sentiment.