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Asian stocks today: Markets inch higher mirroring Wall Street gains; Kospi jumps 10%, Nikkei up 1,400 points – The Times of India
Asian stocks inched higher on Thursday, after days of trading in red amid ongoing Middle East tensions. This comes as equities were lifted by a rebound on Wall Street as oil prices paused their recent spike and economic updates painted a more positive picture of the American economy. In South Korea, Kospi hit a pause on its downward rally to add a whopping 10% or 513 points, to reach 5,606. Japan’s Nikkei 225 also climbed 2.7% to 55,713. Hong Kong’s HSI also traded in green, rising 353 points to 25,603 as of 9:10 am. Shanghai and Shenzhen added 0.9% and 1.7% respectively. Gains elsewhere in the region were more modest. Australia’s S&P/ASX 200 added 0.3% to 8,927.20, while New Zealand’s benchmark index moved 0.9% higher. In contrast, US futures indicated a subdued start ahead. Futures linked to the Dow Jones Industrial Average were almost unchanged, while S&P 500 futures ticked up 0.2%. The S&P 500 advanced 0.8% on Wednesday, clawing back much of the decline seen since the onset of the Iran conflict. The Dow Jones Industrial Average rose 0.5%, and the Nasdaq Composite outperformed with a 1.3% gain. Globally, market sentiment has remained sensitive to developments in the Middle East, with oil price swings continuing to steer trading direction. Crude prices eased during Wednesday’s session. Brent crude briefly moved above $84 a barrel before settling at $81.40, roughly matching the previous day’s level. US benchmark crude edged up 0.1% to finish at $74.66 per barrel. By early Thursday, however, oil was on the rise again. Brent crude climbed 2.4% to $83.32 per barrel, while U.S. benchmark crude jumped 2.5% to $76.53 per barrel.
It is also the first time the target has been lowered since it was cut to “around 5%” in 2023.
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World’s Second-Largest Shipping Firm Maersk Suspends Cargo Bookings Across West Asia Amid War
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Maersk has halted cargo bookings to several West Asian ports due to war disruptions. Affected ports include UAE, Iraq, Kuwait, Qatar, Bahrain, most of Oman, and two in Saudi.
Maersk cited regional conflict and personnel safety as it suspended cargo bookings across West Asia, signalling growing disruption to global trade routes. (IMAGE: REUTERS)
Maersk, the world’s second-largest container shipping company that handles a significant share of global trade, said it has suspended cargo bookings to and from several ports in the West Asia region as the ongoing war begins to disrupt global shipping routes.
The company on Wednesday said it will no longer accept cargo bookings involving ports in the United Arab Emirates, Iraq, Kuwait, Qatar, Bahrain, most of Oman and two ports in Saudi Arabia, according to a report by Barron’s.
However, the suspension will not apply to shipments of critical food supplies, medicines and other essential goods, which will continue to move through the region.
Maersk said the decision was part of operational measures aimed at protecting personnel and safeguarding cargo amid the escalating conflict.
“We are taking operational measures to ensure the safety of our personnel, safeguard your cargo and maintain service stability across affected trades in the Middle East,” the company said in a statement accessed by Barron’s.
Maersk had earlier announced that it would reroute vessels bound for the Suez Canal around the southern tip of Africa and suspend all vessel crossings through the Strait of Hormuz as tensions escalate in the region.
The changes mean ships travelling between Asia and Europe may now take longer routes around the Cape of Good Hope, adding time and cost to global shipping, the news agency said in its report.
Financial markets also reacted to the development. Shares of Maersk traded in Denmark fell nearly 2% on Wednesday following the announcement.
The disruption comes as insurance providers pause coverage for vessels operating in parts of the Gulf amid the intensifying conflict.
US President Donald Trump on Tuesday said the United States Navy would escort oil tankers through the Strait of Hormuz if necessary, as concerns mount over energy supply disruptions.
Copenhagen, Denmark
March 05, 2026, 02:15 IST
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