Asia markets gain while oil prices retreat

March 11, 2026 (MLN): Asia markets traded mostly higher on Wednesday as investors monitored developments in the ongoing Middle East conflict while oil prices eased from recent highs.

Australia’s S&P/ASX 200 gained 0.35% in early trading. In Japan, the Nikkei 225 climbed 1.36%, while the broader TOPIX advanced 1.22%.

South Korean markets posted stronger gains, with the Kospi rising 3.2%, while the small-cap focused Kosdaq added 1.39%.

In Greater China, Hong Kong’s Hang Seng Index increased 0.43%, while mainland China’s CSI 300 edged up 0.19%.

Oil markets remained volatile amid geopolitical tensions. Crude prices had surged close to $120 per barrel earlier in the week due to fears surrounding the Iran conflict but later retreated as traders anticipated that several countries might release emergency crude reserves to offset potential supply disruptions.

U.S. crude oil was last trading 3.24% higher at $86.15 per barrel, according to CNBC. 

When fuel and energy costs rise, households allocate more spending toward essentials such as utilities and transportation, reducing overall consumer demand across the broader economy.

Meanwhile, Hong Kong-listed shares of Chinese electric vehicle manufacturer Nio surged more than 15% after the company reported strong fourth-quarter results driven by higher deliveries, improved product mix and cost efficiencies.

The company delivered 124,807 vehicles during the quarter, marked a 71.7% increase compared to the same period a year earlier.

Revenue climbed 75.9% year-on-year to 34.65 billion yuan (approximately $4.95bn), while vehicle margins improved significantly to 18.1% from 13.1% a year earlier.

Overnight on Wall Street, major U.S. indexes ended the session mixed as traders tracked oil price movements and geopolitical developments related to the Iran conflict.

The S&P 500 slipped 0.21% to close at 6,781.48. The Dow Jones Industrial Average declined by 34.29 points, or 0.07%, finishing at 47,706.51. Meanwhile, the Nasdaq Composite managed a marginal gain of 0.01% to settle at 22,697.10.

During intraday trading, the Dow had fallen as much as 296.57 points, equivalent to about 0.6%, while the S&P 500 and Nasdaq were down roughly 0.5% and 0.4% at their lowest levels of the session before recovering part of the losses by the close.

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