Japan’s Nikkei hits record high as Asia markets rise amid Middle East concerns Asia-Pacific markets saw broad gains, with Japan’s Nikkei 225 reaching a record high, as investors appeared to overlook U.S.-Iran tensions. These tensions, centered on the Strait of Hormuz, a critical energy route, have led to accusations of mining and attacks on commercial ships. Despite these concerns, oil futures rose, and major U.S. stock futures traded near flat.

• Asia-Pacific markets opened higher, with Japan’s Nikkei 225 hitting a record high.
• Investors seemed to look past uncertainty over U.S.-Iran negotiations and tensions in the Strait of Hormuz.
• Secretary of State Marco Rubio stated Iran has mined “large segments” of the Strait of Hormuz and fired on commercial ships.
• A White House official reported the Pentagon destroyed numerous mines and over 40 minelaying vessels.
• The Strait of Hormuz is crucial for global oil supplies, with around 20% passing through before the conflict.
• Japan’s Nikkei 225 rose 2.94%, Topix added 2.14%; CSI 300 gained 1.52%, while Hang Seng lost 1.73%.
• Australia’s S&P/ASX 200 rose 0.82% despite GDP growth missing expectations due to weaker spending and weather disruption.
• India’s Nifty 50 fell 0.78%, and BSE Sensex slipped 0.85%.
• South Korea’s markets were closed for a holiday.
• West Texas Intermediate and Brent crude futures saw gains.
• S&P 500 futures and Nasdaq 100 futures traded around the flatline.
• The S&P 500 rose 0.13% on Tuesday, ending above 7,600 for the first time; the Dow added 0.45%, and the Nasdaq Composite gained 0.03%.