By MarketWatch and Associated Press
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Asian markets rebounded in early trading Thursday following losses the day before after Iran launched a missile attack on U.S. bases in Iraq.
Tensions decreased significantly Wednesday amid signs of de-escalation, as President Donald Trump said Iran “appears to be standing down” and announced fresh sanctions rather than immediate military action. Trump said the United States is “ready to embrace peace with all who seek it.”
U.S. stocks recovered after shaky pre-market trading, with the Nasdaq closing at a new record and the S&P 500 hitting an intraday record.
Japan’s Nikkei /zigman2/quotes/210597971/delayed JP:NIK +0.07% surged 2% and Hong Kong’s Hang Seng Index /zigman2/quotes/210598030/delayed HK:HSI +0.54% rose 1%. The Shanghai Composite /zigman2/quotes/210598127/delayed CN:SHCOMP +0.76% advanced 0.5% and the Shenzhen Composite /zigman2/quotes/210598015/delayed CN:399106 +0.65% ticked up 1%. South Korea’s Kospi /zigman2/quotes/210598069/delayed KR:180721 +0.62% rose 1% and benchmark indexes in Taiwan /zigman2/quotes/210597977/delayed TW:Y9999 +0.04% , Singapore /zigman2/quotes/210597985/delayed SG:STI +0.50% and Indonesia /zigman2/quotes/210597981/delayed ID:JAKIDX +0.50% gained. Australia’s S&P/ASX 200 /zigman2/quotes/210598100/delayed AU:XJO +0.34% advanced 0.6%.
Among individual stocks, Screen Holdings /zigman2/quotes/200599327/delayed JP:7735 -0.52% surged in Tokyo trading, while Yahoo Japan parent Z Holdings /zigman2/quotes/207641152/delayed JP:4689 -0.26% , SoftBank /zigman2/quotes/207303954/delayed JP:9984 -0.11% and Honda /zigman2/quotes/200490352/delayed JP:7267 +1.12% also rose. In Hong Kong, Apple component makers Sunny Optical /zigman2/quotes/206687505/delayed HK:2382 +0.26% and AAC /zigman2/quotes/201441510/delayed HK:2018 -2.02% gained, while PetroChina /zigman2/quotes/204979431/delayed HK:857 +0.72% fell as oil prices receded Wednesday. Samsung /zigman2/quotes/209800866/delayed KR:005930 +1.10% jumped in South Korea, while in Australia, Beach Energy /zigman2/quotes/200513631/delayed AU:BPT -1.60% fell and Rio Tinto /zigman2/quotes/200083756/delayed AU:RIO +0.37% advanced.
On Wall Street, the benchmark S&P 500 index /zigman2/quotes/210599714/realtime SPX +1.10% rose 0.5% to 3,253.05. The Dow Jones Industrial Average /zigman2/quotes/210598065/realtime DJIA +0.61% advanced 0.6% to 28,745.09. The Nasdaq composite /zigman2/quotes/210598365/realtime COMP +1.76% rose 0.7% to a record 9,129.24.
Oil prices rebounded Thursday after first surging on news of the Iranian attack and then falling back once tensions appeared to be easing.
Benchmark U.S. crude gained 48 cents to $60.09 per barrel in electronic trading on the New York Mercantile Exchange. On Wednesday, the contract fell $3.09 to settle at $59.61. It traded as high as $65.65 following the missile attack.
Brent crude , used to price international oils, advanced 44 cents to $65.88 per barrel in London. It fell $2.83 the previous session to $65.44.
Gold had a similar whipsaw day. It climbed as high as $1,604.20 per ounce before settling at $1,560.10.
In currency trading, the dollar /zigman2/quotes/210561789/realtime/sampled USDJPY -0.4324% gained to 109.20 yen from Wednesday’s 109.08 yen.