A small boat with fishermen passes while a ship is anchored, amid the US-Israeli conflict with Iran, off the Sultan Qaboos port in Muscat, Oman, March 25, 2026.
Stringer | Reuters
Japanese and South Korean stocks rose Monday while several key Asian markets were closed for holidays as investors monitored developments in the Middle East conflict.
President Donald Trump on Sunday issued a new series of threats to attack Iranian power plants and civilian infrastructure starting Tuesday, if Tehran fails to fully reopen the Strait of Hormuz, a key oil chokepoint through which about a fifth of the world’s oil supplies pass, before the regional war erupts on February 28.
In an expletive-filled social media post, Trump pledged to bring “Hell” in Iran after U.S. forces rescued an American airman in Iran last week. He then posted a deadline of “Tuesday at 8 p.m. Eastern Time,” without further details. The White House told MS NOW on Sunday that the date is the new deadline for Iran to reach an agreement with the United States
Trump said he would hold a press conference “with the military” in the Oval Office at 1 p.m. Monday.
Iran, however, rejected Trump’s ultimatum to reopen the Strait of Hormuz, saying the critical waterway would only fully reopen after war damages are compensated. Tehran continued its strikes against economic and infrastructure targets in the neighboring Gulf region, including Kuwait’s oil headquarters.
Signaling progress in peace talks, Axios reported that Washington and Tehran were engaged in discussions, mediated by some Gulf states, about a possible 45-day ceasefire that could end the conflict, although the chances of reaching a partial agreement before Tuesday’s deadline were slim.
“The question is whether a more favorable outcome can be achieved without a new round of trade that could potentially narrow the path to lower-intensity conflict in the medium term,” said Homin Lin, senior macro strategist at Lombard Odier, adding that investors will be cautious in trading from one stock to another.
If Trump continues to target Iran’s power grid and civilian infrastructure, risky assets could suffer a further decline, Lin added. “As long as the anxious wait for clarity on the end of the Iranian side continues, markets are likely to remain volatile.”
from Japan Nikkei 225 gains were broadened to trade up 1.2%, and the broad-based Topix rose 0.6%. South Korean flagship Kospi rose 0.8% while small-cap Kosdaq fell 1.7%.
India’s benchmark Nifty 50 index fell 0.5%.
Many markets in Asia are closed Monday for holidays, as Australia, New Zealand and Hong Kong celebrate Easter, while mainland China and Taiwan celebrate the Qingming festival, the tomb-sweeping festival.
Eight members of the Organization of Petroleum Exporting and Allied Countries on Sunday increased their production quotas by 206,000 barrels per day for May, although the move appeared largely symbolic as the war has limited shipments for several members.
United States West Texas Intermediate for May, it rose 2.57% to $114.11 per barrel. International reference Brent crude had gained about 2.62% to $111.65 per barrel as of 7:51 p.m. ET.
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Stock futures on Wall Street fell overnight as investors continued to monitor developments in the U.S.-Iran war. oil price. Dow Jones Industrial Average Futures lost 253 points, or 0.5%. S&P500 And Nasdaq-100 futures lost 0.6% and 0.7%, respectively.