SEOUL, April 3 (AJP) — Asian markets continued to seesaw with each development in the Iran war, but moved higher in early Friday trading on rising hopes for the reopening of the Strait of Hormuz.
Japan’s Nikkei 225 rose 1.08 percent to 53,029.41, while China’s Shanghai Composite Index edged up 0.21 percent to 3,927.59. Hong Kong’s Hang Seng Index was closed from Friday through April 6 for the Easter holiday.
In Seoul, the benchmark KOSPI rebounded at the open after a sharp sell-off in the previous session, when geopolitical fears triggered a sidecar trading curb. As of 10:51 a.m., the index rose 2.71 percent to 5,376.08, while the tech-heavy KOSDAQ gained 1.02 percent to 1,067.08.
In currency markets, the Korean won strengthened slightly against the U.S. dollar, with the exchange rate falling to 1,509.40 won from 1,519.7 in the previous session.
Sentiment was supported by reports that Tehran is drafting a post-war maritime protocol with Oman to guarantee safe navigation through the Strait of Hormuz, potentially including transit fees instead of a full blockade.
Overnight on Wall Street, major indexes ended mixed after recovering from early losses tied to war concerns. The Dow Jones Industrial Average fell 0.13 percent, while the S&P 500 rose 0.11 percent and the Nasdaq Composite gained 0.18 percent. The Philadelphia Semiconductor Index and the Russell 2000 also posted modest gains.
Oil prices remained volatile. U.S. West Texas Intermediate briefly surged toward $114 per barrel following remarks by U.S. President Donald Trump, before paring gains on Iran-Oman negotiation headlines, reflecting persistent uncertainty over supply risks. Brent crude futures for June delivery settled at $109.03 per barrel, up 7.8 percent from the previous session.
All major stocks in Seoul traded higher in early deals, with gains seen across sectors.
Tech and chipmakers led advances, with Samsung Electronics rising 3.64 percent to 184,900 won and SK Hynix jumping 5.60 percent to 876,500 won.
Autos and mobility stocks also traded higher, with Hyundai Motor up 2.04 percent at 475,000 won and Kia gaining 1.93 percent to 153,500 won. Hyundai Mobis rose 0.64 percent to 392,000 won.
Energy and industrials advanced, as LG Energy Solution added 0.62 percent to 407,000 won, Hanwha Aerospace rose 1.20 percent to 1,434,000 won, Doosan Enerbility gained 2.88 percent to 96,300 won, and HD Hyundai Heavy Industries climbed 4.21 percent to 457,500 won. HD Hyundai Electric rose 1.81 percent to 898,000 won, while Hanwha Ocean advanced 1.84 percent to 121,500 won.
Among biopharmaceutical stocks, Samsung Biologics climbed 0.44 percent to 1,592,000 won and Celltrion gained 0.61 percent to 197,900 won.
Financials edged higher, with KB Financial Group rising 0.96 percent to 147,900 won, Shinhan Financial gaining 1.96 percent to 93,500 won, Samsung Life climbing 3.69 percent to 225,000 won, and Mirae Asset Securities advancing 3.73 percent to 63,900 won.
Other large caps also moved higher, with Samsung C&T rising 1.52 percent to 268,000 won and SK Square gaining 2.56 percent to 481,500 won.
The combination of overnight gains in U.S. tech shares, a firmer won and stronger futures points to a short-term technical rebound in Korean equities, though lingering geopolitical risks ahead of the weekend are likely to cap further upside.
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