Asia-Pacific stocks rise as Trump comments signal de-escalation in Iran conflict
Trump said he decided to back off from his recent threat to order strikes on Iranian energy infrastructure "based on the fact we're negotiating."
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SEOUL, SOUTH KOREA - MARCH 05: A currency dealer works in front of an electronic screen showing South Korea's benchmark stock index (KOSPI) in a foreign exchange dealing room at the Hana Bank headquarters on March 05, 2026 in Seoul, South Korea. The latest flare-up in the Iran conflict has hammered export‑reliant markets in South Korea and Japan, knocking benchmark indexes sharply lower on fears that surging energy costs and a prolonged hit to risk appetite could undercut corporate earnings and growth across Asia's trade‑driven economies. (Photo by Han Myung-Gu/Getty Images)
Han Myung-gu | Getty Images News | Getty Images
Asia-Pacific markets gained on Wednesday after U.S. President Donald Trump suggested potential talks with Iran, lifting investor sentiment, even as Tehran denies any direct negotiations with Washington.
Speaking at the Oval Office on Tuesday, Trump said the U.S. and Iran were "in negotiations right now" and suggested Tehran was keen to strike a peace deal, adding he had stepped back from threats to target Iranian energy infrastructure "based on the fact we're negotiating."
South Korea's Kospi jumped 1.59% to end at 5,642.21 while the small-cap Kosdaq was 3.40% higher, ending the trading day at 1,159.55.
Australia's S&P/ASX 200 rose 1.85% to close at 8,534.3.
Japan's Nikkei 225 gained 2.87% to 53,749.61, while the Topix added 2.57% to 3,650.99.
Hong Kong's Hang Seng index added 1.09%, while the CSI 300 gained 1.4% to 4,537.47.
Pop Mart shares plunged over 23% despite its annual revenue surging about 185% year on year to 37.12 billion yuan ($5.4 billion), and adjusted net profit soaring more than 284%.
Morningstar said Pop Mart's blockbuster growth continues to be driven by its flagship Labubu franchise, warning that the company remains heavily reliant on a narrow set of IPs despite efforts to diversify, with expansion into areas such as licensing and theme park operations carrying elevated execution risks.
Amid signs of de-escalation in the Mideast conflict, oil fell on Wednesday. International benchmark Brent crude futures dropped around 6% to $98.31 per barrel, while U.S. West Texas Intermediate futures were also down 5% at $87.65 per barrel.
U.S. stock futures rose Tuesday night stateside, with S&P 500 futures and Nasdaq 100 futures rising 0.7% and 0.8%, respectively. Futures tied to the Dow Jones Industrial Average gained 318 points, or 0.7%.
Futures were higher after the S&P 500 pulled back, giving back some of the sharp gains seen in the previous session, as crude prices rose again while the Iran war entered its fourth week.
The broad market index lost 0.37% and ended at 6,556.37, while the Dow Jones Industrial Average shed 84.41 points, or 0.18%, and settled at 46,124.06. The Nasdaq Composite dropped 0.84% and closed at 21,761.89.
—CNBC's Sean Conlon and Lisa Kailai Han contributed to this report.
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