Asia markets rise amid fragile U.S. Iran ceasefire

April 10, 2026 (MLN): Asian markets traded mostly higher on Friday, as investors cautiously welcomed a fragile ceasefire between the United States and Iran, while ongoing uncertainty in the Middle East continued to drive volatility in global oil prices.

The geopolitical tensions, now entering their second month, have significantly disrupted energy flows after the partial closure of the Strait of Hormuz a critical route for global oil shipments.

Although a tentative ceasefire is in place, tanker traffic through the strait remains restricted, keeping energy markets on edge, according to CNBC.

Iranian authorities indicated that the waterway could fully reopen if hostilities cease entirely. Meanwhile, reports suggest that Israel has also agreed to the ceasefire framework.

The development follows a decision by Donald Trump to pause military actions earlier this week.

However, tensions persist, with Trump warning Tehran against imposing transit fees on oil shipments, while Iranian parliamentary leadership has accused Washington of breaching the ceasefire terms.

In commodities, crude prices remained unstable. West Texas Intermediate slipped 0.22% to settle near $97.65 per barrel after reversing earlier gains, while Brent crude edged up 0.24% to approximately $96.15 per barrel.

Across regional markets, Kospi advanced 1.67%, with the tech-heavy Kosdaq climbing 1.41%. In Japan, the Nikkei 225 rose 1.58%, while the broader Topix ended slightly lower.

Japanese Prime Minister Sanae Takaichi announced plans to release roughly 20 days’ worth of strategic oil reserves starting in May, amid concerns over supply disruptions.

Elsewhere, Australia’s S&P/ASX 200 declined 0.39%, contrasting with gains in India where the Nifty 50 added 0.8%.

Chinese equities also strengthened, with the CSI 300 rising 1.18%, supported by improving economic indicators.

Data showed factory-gate prices in China increased for the first time in over three years, while consumer inflation rose 1% year-on-year in March. Hong Kong’s Hang Seng Index gained 0.61%.

On Wall Street, U.S. markets closed higher overnight despite fluctuations in oil prices.

The S&P 500 rose 0.62% to finish at 6,824.66, while the Nasdaq Composite climbed 0.83% to 22,822.42.

The Dow Jones Industrial Average added 275.88 points, or 0.58%, to settle at 48,185.80 pushing the index into positive territory for the year.

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