South Korea’s KOSPI Plunges as Apple Price Hikes and OpenAI IPO Delay Shake AI Chip Stocks 
Australia Jobs Growth Strengthens Rate Hike Outlook 
Bank Regulation Rollbacks in the U.S. and UK Could Increase Financial Risks, Study Warns 
Oil Prices Rebound as Strait of Hormuz Tensions Return After Ship Attack Near Oman 
Gold Falls Below $4,000 as Strong Dollar and Fed Rate Hike Expectations Weigh on Prices 
Trump Requests $11 Billion More in Farm Aid as Rising Costs Pressure U.S. Farmers 
Oil Prices Drop as Middle East Supply Recovery Eases Market Concerns 
Asian Currencies Trade Mixed as Yen Hovers Near 40-Year Low, Dollar Holds Firm on Fed Outlook 
Bessent Says U.S. Must Strengthen Supply Chains and Economic Security 
South Korea’s KOSPI Jumps Over 5% as Samsung, SK Hynix Rally on Micron Earnings Boost 
U.S. Dollar Reaches One-Year High as Tech Sell-Off and Fed Rate Hike Expectations Support Demand 
BOJ Hawk Signals Faster Interest Rate Hikes Amid Inflation Risks 
Japan Signals Preference for Low Interest Rates as BOJ Policy Debate Intensifies 
South Korea Remains MSCI Emerging Market Despite Reform Progress 
White House Seeks $87.6 Billion Emergency Funding for Iran War, Farmers, and Ebola Response 
S&P Affirms Brazil’s BB Credit Rating with Stable Outlook Amid Fiscal Challenges 
Malaysia Central Bank Moves to Support Ringgit Amid Foreign Fund Outflows 
Asian equities are on track for a second consecutive week of strong gains as easing tensions in the Middle East push oil prices further below the $100-per-barrel threshold. Investors are growing increasingly optimistic about a potential resolution to the ongoing conflict, despite the Strait of Hormuz — a critical artery for roughly one-fifth of global oil and gas supply — remaining closed.
Diplomatic progress has been moving quickly. A 10-day ceasefire between Lebanon and Israel took hold on Thursday, while President Donald Trump indicated that a fresh round of U.S.-Iran negotiations could take place as early as this weekend. The news sent Brent crude futures down over 1% to $98.14 a barrel, with West Texas Intermediate dropping 1.6% to $93.15.
Equity markets have responded positively. MSCI's broadest Asia-Pacific index outside Japan edged down 0.6% on the day but is still up 14.5% for April alone, recovering most of the 13.5% it shed in March when the Iran conflict erupted. Japan's Nikkei slipped 0.9% after touching a record high the previous session. On Wall Street, both the S&P 500 and Nasdaq closed at record highs for the second straight day, buoyed by solid corporate earnings.
However, some market veterans are urging caution. Andrew Chorlton, CIO for public fixed income at M&G, noted a striking gap between what central bankers are signaling and what financial markets appear to be pricing in, describing the current investor mood as "somewhat complacent." ATFX Global's Nick Twidale echoed this view, warning that a full reopening of the Strait of Hormuz is necessary before any sustained market rally can be trusted.
Meanwhile, the U.S. dollar index hovered near its lowest level since early March, with the euro climbing toward a seven-week high and the risk-sensitive Australian dollar approaching a four-year peak. The IMF has already downgraded its global growth outlook, cautioning that a prolonged conflict could push the world economy toward recession.
