Market Update
Japan Stocks Extended 2-Day Gains Amid Middle East Truce Hopes
Akira Ito
25 Mar, 2026
Tokyo
Japan's benchmark indexes extended gains for the second consecutive session amid hopes that the latest developments in the Middle East could improve the flow of crude oil from the region.
The Nikkei 225 Stock Average shot up 2.8%, the Topix Index increased 2.5%, and the yen weakened 0.1% to 158.76 against the U.S. dollar.
Market sentiment in Tokyo improved on reports that the U.S. has resumed diplomatic talks with Iran and the U.S. Navy is in the advanced stage of invading key islands off the coast of Iran.
The U.S.-Israel war on Iran has already racked up $45 billion in costs, and the Trump administration has requested the U.S. Congress to release additional funding of $200 billion.
Meanwhile, the U.S. federal government debt surpassed $39 trillion as of last week, and the debt is set to surpass $40 trillion before the end of October.
The U.S. federal government is increasing its debt by at least $2 trillion a year, and with the ongoing war with Iran, the debt may increase by $3 trillion in the next fiscal year starting November 1.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 2.8% to 53,700.05, and the broader Topix Index added 2.5% to 3,648.93.
Technology and AI-related stocks led the advance in Tokyo.
Kioxia Holdings, SoftBank Group, Advantest Corp., and Tokyo Electron increased between 2% and 4%.
Sumitomo Mitsui Financial, Mizuho Financial, and Mitsubishi UFJ Financial advanced between 0.3% and 1%.
Nippon Yusen KK increased 0.5%, Mitsui O.S.K. Lines advanced 1%, and Kawasaki Kisen Kaisha advanced 2.2% to ¥2,615.50.
Japan Stocks Extended 2-Day Gains Amid Middle East Truce Hopes
Akira Ito
25 Mar, 2026
Tokyo
Japan's benchmark indexes extended gains for the second consecutive session amid hopes that the latest developments in the Middle East could improve the flow of crude oil from the region.
The Nikkei 225 Stock Average shot up 2.8%, the Topix Index increased 2.5%, and the yen weakened 0.1% to 158.76 against the U.S. dollar.
Market sentiment in Tokyo improved on reports that the U.S. has resumed diplomatic talks with Iran and the U.S. Navy is in the advanced stage of invading key islands off the coast of Iran.
The U.S.-Israel war on Iran has already racked up $45 billion in costs, and the Trump administration has requested the U.S. Congress to release additional funding of $200 billion.
Meanwhile, the U.S. federal government debt surpassed $39 trillion as of last week, and the debt is set to surpass $40 trillion before the end of October.
The U.S. federal government is increasing its debt by at least $2 trillion a year, and with the ongoing war with Iran, the debt may increase by $3 trillion in the next fiscal year starting November 1.
Japan Indexes and Stocks
The Nikkei 225 Stock Average rose 2.8% to 53,700.05, and the broader Topix Index added 2.5% to 3,648.93.
Technology and AI-related stocks led the advance in Tokyo.
Kioxia Holdings, SoftBank Group, Advantest Corp., and Tokyo Electron increased between 2% and 4%.
Sumitomo Mitsui Financial, Mizuho Financial, and Mitsubishi UFJ Financial advanced between 0.3% and 1%.
Nippon Yusen KK increased 0.5%, Mitsui O.S.K. Lines advanced 1%, and Kawasaki Kisen Kaisha advanced 2.2% to ¥2,615.50.
China and Asian Markets Rebounded Amid Hopes of Receding Tensions in Middle East
Li Chen
25 Mar, 2026
Hong Kong
Stocks in China and Hong Kong advanced in cautious trading, and crude oil prices edged lower in volatile trading.
The Hang Seng Index inched higher, and the mainland-focused CSI 300 Index gained 1% amid expectations that Middle East tensions could recede in the days ahead.
The Trump administration signaled a diplomatic push as the U.S. prepares for a possible ground invasion as early as this weekend.
The U.S. Navy is preparing to capture Kharg Island and choke off Iran's crude oil shipments and revenue.
The island invasion is not without risks and could further destabilize the flow of energy products through the Strait of Hormuz, the key waterway for the flow of 39% of global crude oil.
China Indexes and Stocks
The Hang Seng Index edged up 0.1% to 25,094.52, and the mainland-focused CSI 300 Index increased 1% to 4,518.19.
Benchmark indexes in Japan and South Korea advanced more than 3% amid hopes that a diplomatic push to end the latest Middle East conflict could restart the flow of energy products through the narrow passage between the UAE and Iran.
Nongfu Spring Co. jumped 8.6% to HK$46.12, Haidilao International decreased 12.5% to HK$14.39, and Mixue Group fell 7.3% to HK$320.20.
Zijin Mining Group advanced 1.2% to HK $35.30, Zijin Gold International advanced 2.5% to HK $184.60, and Laopu Gold Co. added 2% to HK $661.50.
China and Asian Markets Rebounded Amid Hopes of Receding Tensions in Middle East
Li Chen
25 Mar, 2026
Hong Kong
Stocks in China and Hong Kong advanced in cautious trading, and crude oil prices edged lower in volatile trading.
The Hang Seng Index inched higher, and the mainland-focused CSI 300 Index gained 1% amid expectations that Middle East tensions could recede in the days ahead.
The Trump administration signaled a diplomatic push as the U.S. prepares for a possible ground invasion as early as this weekend.
The U.S. Navy is preparing to capture Kharg Island and choke off Iran's crude oil shipments and revenue.
The island invasion is not without risks and could further destabilize the flow of energy products through the Strait of Hormuz, the key waterway for the flow of 39% of global crude oil.
China Indexes and Stocks
The Hang Seng Index edged up 0.1% to 25,094.52, and the mainland-focused CSI 300 Index increased 1% to 4,518.19.
Benchmark indexes in Japan and South Korea advanced more than 3% amid hopes that a diplomatic push to end the latest Middle East conflict could restart the flow of energy products through the narrow passage between the UAE and Iran.
Nongfu Spring Co. jumped 8.6% to HK$46.12, Haidilao International decreased 12.5% to HK$14.39, and Mixue Group fell 7.3% to HK$320.20.
Zijin Mining Group advanced 1.2% to HK $35.30, Zijin Gold International advanced 2.5% to HK $184.60, and Laopu Gold Co. added 2% to HK $661.50.
U.S. Stocks, Oil, and Metals Trade Volatile as Investors Discount Trump's Unverifiable Iran Negotiation Claims
Barry Adams
24 Mar, 2026
New York City
Wall Street indexes traded down following sharp gains in Monday's trading, and crude oil prices resumed their advance.
The S&P 500 Index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.4% amid renewed skepticism about the situation in the Middle East.
Over the weekend, the U.S. president claimed that Iran's "top person" is negotiating with the U.S., and both sides are inching closer to an "agreement."
However, Iran's leaders denied the existence of such talks and asserted that Trump is looking for a way to buy time to prepare for a ground invasion.
Brent crude oil jumped 1.7% to $101.67 a barrel and West Texas Intermediate advanced 2.8% to $90.54 a barrel as investors overlooked Trump's claims of a possible resumption of energy product shipments through the Strait of Hormuz.
Donald Trump has a history of making unverifiable claims and walking back from initial bombastic assertions. Increasingly, international markets are ignoring Trump's claims and shifting their focus on actions in the Middle East.
Metals, commodities, and energy markets overlooked Trump's misleading comments, and crude oil prices rose and precious metals declined amid worries of major central banks lifting rates.
The spot gold price rebounded to a gain of 1% and erased losses of 4% earlier in the session in London and Shanghai, as investors discount Trump's claims about negotiations with Iran and plans to reopen the Strait of Hormuz.
The price of gold edged up 0.5% to $4,453 an ounce, about 21% lower than the peak of $5,594.82 at the end of January.
The recent strength in the dollar and worries of higher interest rates driven by the sharp rise in crude oil prices weighed on gold demand.
U.S. Movers
Estee Lauder edged up 0.5% to $79.70 after the company confirmed it is in the early stages of discussion with Jean Paul Gaultier owner Puig SA.
Puig Brands SA jumped 14% in Madrid, Spain, trading at €17.70.
Investors appear to be skeptical that a deal of this size could be pulled off without execution risks, and Estee Lauder dropped as much as 8% in yesterday's session following the first report on the merger.
As of last Friday's close, Puig Brands had market capitalization of $10 billion and Estee Lauder boasted a market cap of $29 billion.
U.S. Stocks, Oil, and Metals Trade Volatile as Investors Discount Trump's Unverifiable Iran Negotiation Claims
Barry Adams
24 Mar, 2026
New York City
Wall Street indexes traded down following sharp gains in Monday's trading, and crude oil prices resumed their advance.
The S&P 500 Index decreased 0.3%, and the tech-heavy Nasdaq Composite declined 0.4% amid renewed skepticism about the situation in the Middle East.
Over the weekend, the U.S. president claimed that Iran's "top person" is negotiating with the U.S., and both sides are inching closer to an "agreement."
However, Iran's leaders denied the existence of such talks and asserted that Trump is looking for a way to buy time to prepare for a ground invasion.
Brent crude oil jumped 1.7% to $101.67 a barrel and West Texas Intermediate advanced 2.8% to $90.54 a barrel as investors overlooked Trump's claims of a possible resumption of energy product shipments through the Strait of Hormuz.
Donald Trump has a history of making unverifiable claims and walking back from initial bombastic assertions. Increasingly, international markets are ignoring Trump's claims and shifting their focus on actions in the Middle East.
Metals, commodities, and energy markets overlooked Trump's misleading comments, and crude oil prices rose and precious metals declined amid worries of major central banks lifting rates.
The spot gold price rebounded to a gain of 1% and erased losses of 4% earlier in the session in London and Shanghai, as investors discount Trump's claims about negotiations with Iran and plans to reopen the Strait of Hormuz.
The price of gold edged up 0.5% to $4,453 an ounce, about 21% lower than the peak of $5,594.82 at the end of January.
The recent strength in the dollar and worries of higher interest rates driven by the sharp rise in crude oil prices weighed on gold demand.
U.S. Movers
Estee Lauder edged up 0.5% to $79.70 after the company confirmed it is in the early stages of discussion with Jean Paul Gaultier owner Puig SA.
Puig Brands SA jumped 14% in Madrid, Spain, trading at €17.70.
Investors appear to be skeptical that a deal of this size could be pulled off without execution risks, and Estee Lauder dropped as much as 8% in yesterday's session following the first report on the merger.
As of last Friday's close, Puig Brands had market capitalization of $10 billion and Estee Lauder boasted a market cap of $29 billion.
Tokyo Stock Bounce Dissipated After Crude Oil Prices Turned Higher
Akira Ito
24 Mar, 2026
Tokyo
Japan's benchmark indexes erased early gains on Tuesday after crude oil resumed its advance.
The Nikkei 225 Stock Average gained 0.6%, and the broader Topix index added 1.5% amid hopes of de-escalation of tensions in the Middle East.
The U.S. president claimed that Iran's "top person" is negotiating with the U.S., and both sides are inching closer to an "agreement."
However, Iran's leaders denied the existence of such talks and asserted that Trump is looking for a way to buy time to prepare for a ground invasion.
Brent crude oil jumped 4.4% to $104.26 a barrel as investors rejected Trump's claims of a possible resumption of energy product shipments through the Strait of Hormuz.
Metals, commodities, and energy markets overlooked Trump's misleading comments, and crude oil prices rose and precious metals declined amid worries of major central banks lifting rates.
Japan's Consumer Price Inflation Slowed to 4-Year Low
Japan's consumer price inflation in February dropped to the lowest level since March 2022, and core inflation eased for the third consecutive month.
Japan's annual consumer price inflation slowed to 1.3% from 1.5% in February, said the Ministry of Internal Affairs and Communications on Tuesday.
The central government's subsidy for the electricity price and rice supported the easing of overall and core inflation.
Core inflation, which excludes volatile food prices, eased to 1.6% from 2.0% in January and fell to below the central bank's target rate of 2.0% for the first time since March 2022.
Despite the steady decline in the annual rate of inflation since October, prices are likely to rebound amid a surge in imported energy products because of the U.S.-Israel war on Iran.
Japan Indexes and Stocks
The Nikkei 225 Stock Average increased 0.6% to 51,843.73, and the broader Topix Index added 1.5% to 3,538.39.
Technology and financial stocks led gainers in Tokyo trading on Tuesday.
SoftBank Group, Kioxia Holdings, Advantest Corp., and Tokyo Electron gained between 1% and 3%.
Sumitomo Mitsui Financial, Mizuho Financial, and Mitsubishi UFJ Financial advanced between 2% and 3%.
Nippon Yusen KK, Mitsui O.S.K. Lines, and Kawasaki Kisen Kaisha increased between 1% and 2%.