Japan’s Nikkei 225 reached an unprecedented peak on Thursday, reflecting a wider upswing in Asian markets, influenced by the previous night’s advancements on Wall Street, as optimism surrounding a potential U.S.-Iran agreement increased. Japan’s Nikkei 225 concluded the trading day with an increase of 2.38%, reaching 59,518.34, driven by gains in technology and consumer cyclical sectors. Daikin Industries emerged as the leading performer, following the influence of activist investor Elliott Investment Management, which urged the company to enhance its performance and reduce its valuation disparity with competitors. The Topix experienced an increase of 1.17%, reaching a level of 3,814.46. This week, equities have experienced an upswing, driven by the potential for a peace agreement between the United States and Iran. The S&P 500, having fully recovered from its losses associated with the Iran conflict on Monday, has experienced a 3% increase this week. The Nasdaq has increased by approximately 5%, while the Dow has seen a rise of over 1%.

President Donald Trump stated in an interview that aired on Wednesday that the Iran war is “very close to over,” reiterating his assertion that Tehran is eager to “make a deal very badly.” A White House official informed on Tuesday that discussions are underway regarding a second round of negotiations between Washington and Iran. An official, who requested anonymity to discuss the administration’s plans, indicated that no formal schedule has been established at this time. Oil prices experienced an uptick during Thursday’s trading session. The West Texas Intermediate experienced an increase of 0.87%, reaching a price of $92.07 per barrel as of 3:45 am. International benchmark Brent crude increased by 0.95% to $95.81 per barrel. South Korea’s Kospi increased by 2.21% to 6,226.05, whereas the small-cap Kosdaq rose by 0.91% to 1,162.97 at the conclusion of Thursday’s trading session. India’s Nifty 50 reversed its initial upward trajectory, reflecting a decline of 0.37% as of 3:45 am. Australia’s S&P/ASX 200 experienced a decline of 0.26%, settling at 8,955.

Labor data released Thursday indicated that Australian employment increased by 1.4% in March compared to the previous year, while the unemployment rate remained unchanged at 4.3%. Mainland China’s CSI 300 index experienced an increase of 1.10%, reaching 4,736.61, while Hong Kong’s Hang Seng index saw a rise of 1.71% during its final hour of trading. China’s economy experienced an acceleration in the first quarter, bolstered by strong export growth that mitigated sluggish domestic demand. However, the growth outlook remains uncertain due to the energy shock driven by the conflict in Iran, which poses a threat to global demand. Gross domestic product increased by 5% in the three months leading up to March, according to data released by the National Statistics Bureau on Thursday. This marks an acceleration from the 4.5% growth observed in the previous quarter and surpasses the economists’ forecast of 4.8% growth as indicated in a poll.

S&P 500 futures and Nasdaq 100 futures exhibited minimal movement, hovering near the flatline. Futures associated with the Dow Jones Industrial Average increased by 45 points, representing a 0.1% rise. Overnight on Wall Street, the S&P 500 experienced an increase of 0.80%, concluding at 7,022.95. The Nasdaq Composite increased by 1.59% to 24,016.02, whereas the Dow Jones Industrial Average declined by 72.27 points, or 0.15%, finishing at 48,463.72. The Nasdaq and the S&P 500 reached new closing highs, with the technology-focused index achieving an 11-day winning streak, while the broader market benchmark recorded its 10th positive session in the last 11 days.