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Asian shares mostly gain while European
trading stays closed for a holiday
[April 06, 2026]
By YURI KAGEYAMA
TOKYO (AP)
— Asian markets that were open for trading mostly rose Monday, as
investors continued to closely watch the war in Iran, soaring oil prices
and what President Donald Trump might say next.
Japan's benchmark Nikkei 225 rose 0.6% to finish at 53,413.68. South
Korea's Kospi gained 1.4% to 5,450.33. Trading was closed in Australia
for Easter; in Hong Kong and Shanghai for a traditional Chinese holiday,
and in France, Germany and Britain in observance of Easter. |
U.S. President Donald Trump is seen on a screen as traders work at the
foreign exchange dealing room of the Hana Bank headquarters in Seoul,
South Korea, Monday, April 6, 2026. (AP Photo/Ahn Young-joon) |
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Trump threatened to hit Iran’s critical infrastructure hard if
the country’s government doesn’t reopen the Strait of Hormuz by
his Tuesday deadline. But there was no sign Iran was easing its
closure of the strait crucial to global oil supplies.
The market is keeping focused on oil prices.
Benchmark U.S. crude dropped $1.76 to $109.78 a barrel. Brent
crude, the international standard, lost 73 cents to $108.33 a
barrel. Energy markets were closed Friday, but the prices have
been surging lately on fears that the Iran war will drag on
longer than expected.
The U.S. relies on the Persian Gulf for only a fraction of the
oil it imports, but oil is a commodity and prices are set in a
global market. Some nations, like resource-poor Japan, import a
large portion of their energy needs and rely heavily on access
to the Strait of Hormuz.
Japan's Prime Minister Sanae Takaichi told lawmakers recently
that Japan was releasing its reserves and was working on
alternative routes. South Korea's trade ministry said it plans
to send at least five ships to Saudi Arabi in the coming weeks
to establish new oil transport routes in the Red Sea.
“As we kick off the first full trading week of April, the word
uncertainty is paramount. Last year it was centered on the
impact of ‘Liberation Day’ tariffs, this year it's uncertainty
surrounding the ongoing Iranian War,” said Jay Woods, analyst at
Freedom Capital Markets in New York.
U.S. markets were closed for Good Friday and will reopen Monday.
Some markets in Europe also did not trade on Friday.
In currency trading, the U.S. dollar inched down to 159.39
Japanese yen Monday from 159.63. The euro cost $1.1555, up from
$1.1517.
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Associated Press writers Kim Tong-Hyung in Seoul and Matt Ott in
Washington contributed to this report.
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