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Persian Gulf Outlook Roils Asian Stock Markets

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Asian stock markets turned in a choppy Wednesday as traders weighed a unilateral extension of a Persian Gulf ceasefire by US President Donald Trump, but also the ongoing closure of the Strait of Hormuz, through which the Asian Pacific receives much of its crude and LNG.

Shanghai and Tokyo finished in the green, while Hong Kong fell back. Other regional exchanges were also uneven.

In Japan, the Nikkei 225 opened lower, but rose to the close, finishing up 0.4% and striking a fresh all-time zenith, as tech issues rallied.

The benchmark Nikkei 225 rose 236.69 to 59,585.86, though losing issues outnumbered gainers 181 to 41, as the rally was concentrated shares exposed to AI-outlooks.

Leading the upside was tech-financier SoftBank, up 8.5%, while beverage house Sapporo declined 5.2%.

In economic news, Japan logged an international trade deficit of $10.7 billion in the fiscal year ended March 31, remaining in the red for the fifth straight year, reported the Ministry of Finance.

In Hong Kong, the Hang Seng Index opened lower and declined in trading, closing down 1.2% on weakness in tech shares.

The broad gauge Hang Seng fell 324.24 to 26,163.24, as losing issues outnumbered gainers 70 to 20. The Hang Seng TECH Index lost 1.9% on the day, while the Mainland Properties Index fell 0.2%.

Leading the upside was computer-maker Lenovo, gaining 5.7%, while Contemporary Amperex Technology dropped 5%.

On the mainland, the Shanghai Composite rose 0.5% to 4,106.26.

On the other regional exchanges, the S. Korean KOSPI rose 0.5%; the Taiwan TWSE inclined 0.7%; the Australian ASX 200 declined 1.2%; the Singapore Straits Times Index fell 0.2%, and the Thai Set declined 0.2%. In late trading in Mumbai, the Sensex was down 1%.

The MSCI All Country Asia Pacific Index fell 0.6% on the day.

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