Asia-Pacific markets opened mostly higher on Friday, buoyed by a fragile ceasefire between the U.S. and Iran, which has kept investors on edge. The ongoing conflict has severely restricted traffic through the Strait of Hormuz, a critical energy passage, despite Tehran’s promise to reopen it if attacks cease. Oil prices reacted positively, with West Texas Intermediate rising 0.69% to $98.55 per barrel and Brent crude up 0.91% to $95.92, reflecting concerns about supply disruptions.

The geopolitical tensions have implications for energy stocks and broader market sentiment, as evidenced by the gains in South Korea’s Kospi (up 1.68%) and Japan’s Nikkei 225 (up 1.65%). However, Australia’s S&P/ASX 200 lagged slightly, down 0.51%, indicating mixed regional responses. The S&P 500 also showed resilience, closing up 0.62% as it turned positive for the year.

Market professionals should monitor developments in the Strait of Hormuz closely, as any escalation could significantly impact oil prices and related equities, influencing overall market stability.

Source: cnbc.com