Asian markets today: Asian shares climbed on Wednesday, 6 May, after US President Donald Trump indicated progress toward a final deal with Iran, boosting market sentiment.
South Korea’s Kospi index scaled a new record high, surpassing the 7,000 mark. It climbed 381.8 points, or 5.5%, to touch an all-time high of 7,318.8 during the session. The index has gained more than 70% so far this year.
The small-cap Kosdaq index edged down 0.15%. Market heavyweights Samsung Electronics and SK Hynix surged to record levels as well, gaining over 8% and 9%, respectively, in early trading.
Australia’s S&P/ASX 200 advanced 0.58% on Wednesday. Meanwhile, Hong Kong’s Hang Seng index futures stood at 25,860, slightly below the index’s previous close of 25,898.61. Whereas Japanese markets remained shut for a holiday.
Back home, Gift Nifty is trading 212 points, or 0.86%, higher, indicating a strong opening for the Indian stock market.
“Indian equity markets are likely to trade on a cautious note, with investor sentiment firmly anchored to evolving geopolitical developments. The primary global trigger remains the situation around the Strait of Hormuz. Recent comments from Donald Trump indicating that “Project Freedom” will be paused temporarily—effectively halting plans to escort vessels through the strait amid ongoing negotiations with Iran—offer some near-term respite. However, the broader blockade dynamics remain unresolved, keeping energy markets on edge,” said Ponmudi R, CEO of Enrich Money.
Why are Asian shares rising today?
Indicating that diplomatic efforts to resolve the Middle East crisis were progressing, President Donald Trump said the US initiative to escort ships through the Strait of Hormuz had been put on hold.
“We have mutually agreed that, while the Blockade will remain in full force and effect, Project Freedom will be paused for a short period of time to see whether or not the Agreement can be finalised and signed,” Trump said in his Truth Social post.
Earlier, on Monday, the US military had started assisting commercial vessels through the strait under Project Freedom. On Tuesday, US Defence Secretary Pete Hegseth noted that two American commercial ships, accompanied by U.S. destroyers, had already passed through safely, demonstrating that the route remained secure.
Following Trump’s remarks, Brent crude, the global oil benchmark, declined 1.3% to around $108 per barrel. Meanwhile, the dollar, which had strengthened as a safe-haven asset during the conflict, lost some ground.
US stock market today
The S&P 500 and Nasdaq closed at record highs on Tuesday, driven by gains in Intel and other AI-linked stocks, as a sustained US-Iran ceasefire and upbeat quarterly earnings kept investor sentiment strong.
The S&P 500 rose 0.81% to finish at 7,259.22 points, while the Nasdaq advanced 1.03% to 25,326.13 points. The Dow Jones Industrial Average also climbed 0.73% to settle at 49,298.25 points.
Investor interest remained centered on AI-focused companies. Chipmaker AMD rallied 4% ahead of its earnings announcement, with analysts projecting a 33% jump in revenue. Meanwhile, Intel surged 13% following a Bloomberg report that Apple may tap the company’s chipmaking capabilities for its device processors.
The PHLX Semiconductor Index jumped 4.2% to a record high and has now gained 55% so far in 2026.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.