Asia markets advance on peace deal hopes, corporate earnings
Published Thu, Apr 16, 2026 · 09:21 AM
[SINGAPORE] Stocks pushed higher in early Asia trading on Thursday as optimism grew about a deal to end the Iran war with the US ratcheting up pressure on Tehran, while traders prepared for a raft of economic data and critical earnings reports.
MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.3 per cent, putting the benchmark on track for a third consecutive day of gains, while Japan’s Nikkei rose 1.5 per cent. S&P 500 e-mini futures nudged 0.1 per cent higher.
Overnight, the S&P 500 was up 0.8 per cent and the Nasdaq Composite gained 1.6 per cent, as strong quarterly earnings from Bank of America and Morgan Stanley lifted the indexes to record highs. With around 6 per cent of companies reporting earnings for the quarter, 84 per cent have beaten analysts’ expectations.
“We remain constructive overall” on emerging market stocks as “underlying profit growth is likely to be strong,” analysts from Goldman Sachs wrote in a research report.
Earnings in the region will be “driven by AI-related demand, which should be relatively insulated from the direct impacts of the oil shock.”
Economic data due for release include Australian jobs numbers and Chinese GDP. Taiwan Semiconductor Manufacturing Co (TSMC), a linchpin of the AI sector, is set to post quarterly earnings, with a 50 per cent surge in net profit expected as demand for its advanced chips soars.
In oil markets, Brent crude opened 0.4 per cent lower at US$94.55 a barrel after a source briefed by Teheran told Reuters that Iran could consider allowing ships to sail freely through the Omani side of the Strait of Hormuz without risk of attack as part of proposals it has offered in negotiations with the United States.
Gold clawed back 0.8 per cent to US$4,829.24, while in cryptocurrencies, bitcoin was flat at US$74,832.83 and ether slid 0.1 per cent to US$2,360.71. REUTERS
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