Asia Markets Open Higher on US-Iran Deal Hopes; China Exports Miss Estimates

Asia-Pacific markets opened mostly higher on Tuesday as investors remained hopeful about a possible deal between the United States and Iran.

The positive sentiment came despite ongoing tensions after the US began blocking Iranian shipments through the Strait of Hormuz following the breakdown of recent talks.

Major indices across the region traded higher. Japan’s Nikkei 225 and South Korea’s Kospi led the gains, while markets in Australia, Hong Kong and mainland China also moved up. India’s Nifty 50 was among the few markets trading lower.

Oil prices declined during the session. West Texas Intermediate fell about 2% to around $97 per barrel, while Brent Crude dropped over 1% to near $98 per barrel.

Data released showed that China’s exports grew by 2.5% in March, missing expectations and marking the slowest growth in six months. At the same time, imports recorded strong growth, rising at their fastest pace in more than four years.

US markets closed higher in the previous session, supported by optimism that diplomatic talks could resume, which helped lift sentiment across Asian markets.

Markets are expected to remain sensitive to developments in US-Iran relations and global oil price movements.