A stock broker at the Prudential Brokerage office follows the Hang Seng Index results in Hong Kong in March 2020.
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Asia-Pacific markets opened higher Wednesday, with Japan’s Nikkei 225 hitting a record high, as investors appeared to look past uncertainty over U.S.-Iran negotiations aimed at ending the Middle East conflict.
Tensions have escalated between Washington and Tehran, with Secretary of State Marco Rubio saying on Tuesday that Iran has mined “large segments” of the Strait of Hormuz.
“They’re firing on commercial ships and they’ve mined large segments of Hormuz — international waters,” Rubio told the Senate Foreign Relations Committee. This marks his first appearance before Congress since the Iran war on Feb. 28.
A White House official told CNBC that the Pentagon has destroyed numerous mines and over 40 minelaying vessels.
The Strait of Hormuz is a critical waterway, particularly for the energy market globally — around 20% of the world’s oil supplies passed through the strait before the war.
Japan’s Nikkei 225 gained 0.91%, while the Topix added 0.93%. Australia’s S&P/ASX 200 was 0.32% higher.
Hong Kong’s Hang Seng index futures last traded at 25,853, lower than the index’s last close of 26,038.32.
South Korea’s markets were closed for a holiday.
The West Texas Intermediate futures for June were 1.16% higher at $94.92 per barrel as of 7:45 p.m. ET. Brent crude futures for July last traded at $96 per barrel.
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