Markets in the Asia-Pacific region experienced a general uptick on Friday, although the tenuous two-week ceasefire between the U.S. and Iran continues to leave investors in a state of uncertainty, as oil prices exhibit considerable volatility. The ongoing conflict in the Middle East, which has now entered its second month, has resulted in the closure of the Strait of Hormuz. Consequently, traffic remains significantly constrained through this vital energy corridor, even in light of the ceasefire. According to a statement from its foreign minister, Tehran indicated that it would reopen the strait provided that all attacks on the country ceased. Reports indicate that Israel has also consented to the ceasefire. That came after U.S. President Donald Trump suspended military actions against Iran on Tuesday.

On Thursday, Trump asserted that Iran “better stop now” if it is imposing fees on oil tankers for passage through the strait. In response, Iran’s parliamentary speaker, Mohammad Bagher Ghalibaf, accused the U.S. on Wednesday of breaching the ceasefire agreement. The West Texas Intermediate experienced an increase of 1.72%, reaching a price of $99.55 per barrel as of 3:40 am. Brent crude experienced an increase of 1.80%, reaching a price of $97.65 per barrel. “Iran is performing inadequately, dishonorable some would argue, in permitting oil to transit through the Strait of Hormuz,” Trump stated in a Truth Social post. Japan’s Nikkei 225 increased by 1.84%, reaching 56,924.11, whereas the Topix remained unchanged. Japanese Prime Minister Sanae Takaichi announced on Friday that the nation intends to release 20 days’ worth of oil reserves starting in May, according to a report. As of April 6, Japan’s oil reserves were sufficient to last for 230 days.

China’s CSI 300 concluded Friday’s trading at 4,636.57, reflecting an increase of 1.54%. In March, China experienced an increase in factory-gate prices for the first time in over three years, alongside a 1% rise in the consumer price index compared to the previous year. The Hang Seng Index experienced an increase of 0.47% during its final trading hour. South Korea’s Kospi concluded Friday’s trading session with an increase of 1.40%, reaching 5,858.87, while the small-cap Kosdaq experienced a rise of 1.64%, closing at 1,093.63. India’s Nifty 50 and the BSE Sensex exhibited an increase of nearly 1% as of 3:40 am. Australia’s S&P/ASX 200 concluded the trading session with a slight decline of 0.14%.

During the overnight session on Wall Street, oil prices retreated from their peak levels of the day, while the S&P 500 managed to move into positive territory. The S&P 500 concluded the trading day at 6,824.66, reflecting an increase of 0.62%, whereas the Nasdaq Composite rose by 0.83% to reach 22,822.42. The Dow Jones Industrial Average increased by 275.88 points, representing a rise of 0.58%, ultimately closing at 48,185.80. The 30-stock index has recorded a year-to-date increase of 0.25%, moving into positive territory.