Asia markets climb amid Middle East tensions, oil surge

April 6, 2026 (MLN): Asian markets moved higher on Monday, led by gains in Japan and South Korea, even as geopolitical tensions in the Middle East kept investors cautious and several regional markets remained closed for holidays.

Japan’s benchmark Nikkei 225 climbed 0.62%, while the broader Topix added 0.23%. In South Korea, the Kospi surged 1.8%, and the tech-heavy Kosdaq rose 0.98%, showing resilience despite rising global uncertainty, according to CNBC.

Market sentiment remained heavily influenced by escalating tensions between the United States and Iran.

Over the weekend, Donald Trump warned of potential military action targeting Iran’s power and civilian infrastructure if Tehran fails to fully reopen the Strait of Hormuz, a critical passage that previously handled around 20% of global oil supply before the conflict intensified in late February.

The U.S. administration has reportedly set a new deadline for Iran to reach an agreement, with further announcements expected following a scheduled briefing involving military officials.

Iran, however, has rejected the ultimatum, stating that the waterway will only be fully reopened once war-related damages are addressed.

Meanwhile, Tehran has continued targeting economic and infrastructure sites across the Gulf region.

In response to market instability, members of the OPEC+ agreed to increase output by 206,000 barrels per day for May. However, analysts view the move as largely symbolic, given that ongoing conflict has already limited exports from several producers.

Despite gains in Asia, sentiment on Wall Street remained negative.

U.S. stock futures declined overnight, with Dow Jones Industrial Average futures falling 0.5%, while S&P 500 and Nasdaq-100 futures dropped 0.6% and 0.7%, respectively, as investors weighed the impact of rising oil prices and geopolitical risks.

Elsewhere in the region, trading activity was muted as several markets remained closed.

Australia, New Zealand, and Hong Kong observed Easter holidays, while mainland China and Taiwan were shut for the Qingming Festival.

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