The Nikkei 225 climbed 1.3% to close at 53,123, while the broader TOPIX rose 0.9% to 3,645 on Friday, trimming weekly losses to 0.4%, as sentiment improved on global efforts to restore Gulf oil shipments disrupted by the war in Iran. Multiple countries moved to revive flows through the Strait of Hormuz after US President Trump signaled a more aggressive stance, even as the conflict, ongoing since late February, continues to drive volatility in energy markets. Hopes of a partial reopening also helped ease crude prices in Tokyo, offering support to equities, particularly given Japan’s heavy reliance on imported energy. Improving sentiment around the Middle East, alongside optimism over AI-driven growth, lifted expectations of solid corporate performance in the upcoming earnings season. AI suppliers Furukawa Electric and Fujikura surged 10.4% and 7.5%, respectively, while Sakura Internet surged 20.2% to its daily limit after Microsoft announced a ¥1.6 trillion AI partnership in Japan.
India’s BSE Sensex Index reversed early losses to close about 0.3% up at 73,319.55 on Thursday, marking the second day of advances, despite fading hopes of a quick end to the Iran war and a sharp rise in oil prices. IT stocks provided the main support, as investors positioned ahead of upcoming quarterly earnings from major players like TCS and Infosys next week. HCLTech, Tech Mahindra, Infosys and TCS rose between 1.8% and 3.5%. Other gainers included Maruti, Titan, Bajaj Finance, HDFC Bank, Trent, BEL, IndiGo and Axis Bank. Among losers, Sun Pharma fell 1.7% following a report that the US administration may impose tariffs on drugmakers that have not agreed to lower prices in the US. On the data front, a final PMI survey showed India's factory sector growth slowed to a near four-year low in March. For the week, the index shed about0.4%. The Indian stock market will remain closed on Friday, April 3, 2026, on account of the scheduled holiday for Good Friday.
