On Thursday, Asia-Pacific markets experienced declines amid uncertainty surrounding negotiations between the U.S. and Iran. Secretary of State Marco Rubio indicated some progress in talks, emphasizing a preference for a diplomatic resolution. However, President Donald Trump stated that Iran would not be allowed to control the strategic Strait of Hormuz, a key shipping route for oil.
A report from Iranian state media suggested that Tehran would restore commercial traffic through the Strait to prewar levels within a month of an agreement, but the White House dismissed this as a fabrication. In the oil market, West Texas Intermediate futures rose 1.86% to $90.33 per barrel, while Brent crude futures increased by 1.87% to $96.05 per barrel.
In terms of regional market performance, South Korea's Kospi fell 0.29%, Japan's Nikkei 225 dropped 0.76%, and Australia's S&P/ASX 200 declined by 0.75%. Despite these losses, U.S. futures showed slight gains, with the Dow Jones Industrial Average futures adding 49 points, or 0.1%. The S&P 500 and Nasdaq also saw minor increases during the previous session, closing at record highs