Asian Shares Rise On US-Iran Deal Optimism

(RTTNews) - Asian stocks advanced on Thursday as AMD's Q1 print topped consensus and investors pinned hopes for a peace deal between the United States and Iran.

The dollar index was subdued in Asian trading, helping gold prices jump more than 1 percent toward $4,750 an ounce.

Oil prices extended losses, with Brent crude futures falling nearly 2 percent toward $99 a barrel after tumbling almost 8 percent in the previous session.

China's Shanghai Composite index rose 0.48 percent to 4,180.09 ahead of U.S. President Donald Trump's visit to Beijing next week.

Hong Kong's Hang Seng index surged 1.57 percent to 26,626.28, led by heavyweight technology and financial names.

Japanese markets hit a fresh record high, with chip-related and other tech stocks rallying on optimism about global AI chip demand.

The Nikkei average soared 5.58 percent to 62,833.84, logging its largest single-day gain ever as traders returned from the Golden Week holiday. The broader Topix index settled 3 percent higher at 3,840.49.

SoftBank Group jumped 18.4 percent as investors eyed Roze spinoff and its AI investments. Advantest, Tokyo Electron, Lasertec and Renesas Electronics surged 5-13 percent.

The yen was flat against the dollar after a top currency official signaled that the government is prepared to respond on all fronts to speculative moves in the foreign exchange market.

Earlier in the day, minutes from the Bank of Japan's March meeting showed that many board members saw the need to raise rates if the Iran war-driven energy shock is prolonged.

Seoul stocks hit a new peak as bond yields fell on hopes for a U.S.-Iran deal to end the Middle East conflict. The Kospi average soared 1.43 percent to 7,490.95, led by tech, auto and bank shares. Market bellwether Samsung Electronics climbed 2.1 percent and chip giant SK Hynix added 3.3 percent.

Australian markets rallied after reports suggested that the U.S. had presented Iran with a one-page framework that could lead to the gradual reopening of the Strait of Hormuz.

The benchmark S&P/ASX 200 rose 0.96 percent to 8,878.10 while the broader All Ordinaries index closed 1.01 percent higher at 9,107.

Gold stocks and miners topped the gainers list as energy stocks tracked oil prices lower. Investors shrugged off data that showed Australia logged an unexpected trade deficit in March.

Across the Tasman, New Zealand's benchmark S&P/NZX-50 index ended up 0.95 percent at 13,270.61. Infratil shares jumped over 4 percent after the company signed a major data center agreement.

U.S. stocks rose sharply overnight after reports emerged that the U.S. and Iran are getting close to an agreement on a one-page memorandum of understanding.

Axios reported that the deal would include Iran committing to a moratorium on nuclear enrichment and both sides lifting restrictions around transit through the Strait of Hormuz.

Adding to the optimism about a peace deal, President Trump said the U.S. would pause its efforts to escort ships through the Strait of Hormuz.

Investor sentiment was also boosted by AMD's upbeat forecast and strong private payrolls data pointing to more evidence of a stable labor market.

The tech-heavy Nasdaq Composite surged 2 percent and the S&P 500 added 1.5 percent to reach record closing highs while the narrower Dow gained 1.2 percent.