Asian Stocks Rise After Wall Street Hits Record, Oil Steadies

Optimism over Iran ceasefire extension and U.S.-Iran talks boost markets

Apr. 16, 2026 at 4:40am by

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A minimalist composition of overlapping triangles and rectangles in shades of blue, yellow, and red, conveying a sense of balance and economic progress without any text or literal imagery.Geometric abstraction symbolizes the potential for economic stability as Iran-U.S. negotiations progress.San Francisco Today

Asian stocks mostly gained on Thursday, with Tokyo's Nikkei 225 jumping 2.4% and South Korea's Kospi climbing 2%, as investors expressed optimism over the potential extension of a ceasefire in the Iran war and hopes for more talks between the U.S. and Iran. Oil prices also steadied after surging since the conflict began in late February. Wall Street hit a record on Wednesday, with the S&P 500 rising 0.8% to a new all-time high.

Why it matters

The Iran war has had a significant impact on global markets, particularly oil prices, which have spiked due to disruptions in the Strait of Hormuz. The potential for a longer ceasefire and renewed diplomatic efforts between the U.S. and Iran could help ease tensions and stabilize energy markets, benefiting the broader economy.

The details

Asian stocks rose as investors anticipated an extension of the current ceasefire in the Iran war and the possibility of further talks between the U.S. and Iran. China reported 5% economic growth for the first quarter, though some economists warn the country's export-driven economy could face headwinds from slower global growth. Oil prices steadied after surging since the conflict began, with Brent crude edging up less than 0.1% to $94.94 per barrel and U.S. benchmark crude rising 0.4% to $91.66.

  • The current ceasefire in the Iran war is set to expire next week.
  • Regional officials say the U.S. and Iran have an 'in principle agreement' to extend the ceasefire.

The players

Scott Bessent

U.S. Treasury Secretary who warned that Washington was preparing to apply secondary sanctions on those doing business with Iran.

Warren Patterson

ING Bank strategist who said the 'key upside risk for the market is that peace talks between the US and Iran break down.'

Ewa Manthey

ING Bank strategist who said the 'key upside risk for the market is that peace talks between the US and Iran break down.'

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What they’re saying

“The key upside risk for the market is that peace talks between the US and Iran break down. This isn't an unrealistic scenario, given that US and Iranian demands remain fairly wide apart.”

— Warren Patterson, ING Bank strategist

What’s next

Regional officials say the U.S. and Iran are making progress toward another round of talks to potentially extend the ceasefire beyond next week.

The takeaway

The potential for a longer ceasefire and renewed diplomatic efforts between the U.S. and Iran could help ease tensions and stabilize energy markets, providing a boost to the global economy. However, the fragility of the peace process means the situation remains volatile.