FINWIRES · TerminalLIVE
FINWIRES

Middle East War Uncertainty Caps Asian Stock Markets

-- Asian stock markets largely fell back Thursday, as traders looked for clarity on the status of the Strait of Hormuz and the Persian Gulf war.

Hong Kong, Shanghai, and Tokyo finished in the red, while other regional exchanges were mixed.

In Japan, the Nikkei 225 opened evenly but declined in trading, finishing off 0.7% as traders booked profits after Wednesday's rally following reports of a Middle East ceasefire.

The benchmark Nikkei 225 fell 413.10 to 55,895.32, as losing issues outnumbered gainers 169 to 54.

Leading the upside was Yokogawa Electric, up 4.1%, while retail conglomerate Aeon declined 8.2%.

In economic news, Japan's seasonally adjusted Consumer Confidence Index declined to 33.3 in March, down from 39.7 in February, reported the Cabinet Office.

Japan's machine tool orders jumped by 28.1% year-on-year in March, driven by a 40.4% surge in offshore demand, reported the Japan Machine Tool Builders Association.

In Hong Kong, the Hang Seng Index opened lower and could not recover, closing down 0.5% on ebbing optimism regarding Middle East negotiations.

The broad gauge Hang Seng fell 140.62 to 25,752.40 as losing issues outnumbered gainers 53 to 36. The Hang Seng TECH Index lost 2.1% on the day, while the Mainland Properties Index fell 0.3%.

Leading the upside was aluminum producer China Hongqiao, gaining 5.2%, while property company Longfor declined 5.6%.

On the mainland, the Shanghai Composite fell 0.7% to 3,966.17.

On the other regional exchanges, the South Korean KOSPI fell 1.6%; the Taiwan TWSE rose 0.3%; the Australian ASX 200 gained 0.2%; the Singapore Straits Times Index fell 0.4%, and the Thai Set inclined 0.3%. In late trading in Mumbai, the Sensex was down 1.2%.

The MSCI All Country Asia Pacific Index fell 0.9% on the day.

Related Articles

International

Persian Gulf Outlook Caps European Bourses Midday

European bourses tracked sideways midday Wednesday after US President Donald Trump unilaterally extended a Persian Gulf ceasefire on Tuesday, but the Strait of Hormuz remained closed to tanker traffic.Property, oil, and tech stocks led gains on continental trading floors, while bank shares lagged.Front-month North Sea Brent crude-oil futures were up 1% at $99.49 a barrel.Investors also eyed Wall Street futures in the green amid choppy closes overnight on Asian exchanges.In economic news, the European Commission on Wednesday proposed AccelerateEU, a set of measures to tackle fossil fuel shortages triggered by the Strait of Hormuz closure. However, the EC said true security would come from a shift to domestically produced clean energies.The pan-continental Stoxx Europe 600 Index was stable mid-session.The Stoxx Europe 600 Technology Index was up 1%, while the Stoxx 600 Banks Index lost 0.9%.The Stoxx Europe 600 Oil and Gas Index rose 1.5%, while the Stoxx 600 Europe Food and Beverage Index edged 0.1% higher.The REITE, a European REIT index, gained 0.8%.On the national market indexes, Germany's DAX was down 0.2%, and the FTSE 100 in London was steady. The CAC 40 in Paris was down 0.4%, and Spain's IBEX 35 eased 0.4%.Yields on benchmark 10-year German bonds were steady, near 3%.The Euro Stoxx 50 volatility index was down 4.4% at 23.10, but still indicating above-average volatility for European stock markets in the next 30 days, a negative signal. A reading above 20 indicates choppier markets ahead, while below 20 suggests calmer exchanges.

$^SXXP
Mining & Metals

Altius Minerals Price Target Raised to $52 at Raymond James

Raymond James raised its price target on Altius Minerals Corp. (ALS.TO) to $52 from $48.Analyst Brian MacArthur maintained an Outperform rating on shares of the Canadian diversified mining and metals royalty company ahead of its Q1 results on May 12."ALS expects to report 1Q26 attributable royalty revenue of about $26.4 Million compared to $15.0 Million in 1Q25," MacArthur said in a note to clients."Of note base metal revenue of $9.1 Million for the quarter reflects higher realized copper prices and the timing of copper stream deliveries from Chapada, as well as higher Voisey's Bay revenue while increased lithium revenue of $5.4 Million reflects the acquisition of Lithium Royalty Corp," the analyst said.

$ALS.TO
Mining & Metals

Pulsar Helium Secures Option Over 488,090 Acres in Michigan's Upper Peninsula

Pulsar Helium (PLSR.V) said Wednesday that it secured an option to lease 488,090 gross acres of mineral rights comprising the Falcon project in Michigan from Keweenaw Land Association (KLA).Pulsar said the three-year option commenced March 31 and covers non-hydrocarbon gases including helium-4, helium-3, carbon dioxide and hydrogen. The company must spend at least US$1.0 million in exploration under the agreement.The agreement contains a staged acreage surrender schedule, allowing Pulsar to refine its exploration focus across the project and thereby reduce its retained acreage. A final development leasehold of up to 20,000 net acres can be selected at the exercise of the option, Pulsar said.Upon the exercise of the option, Pulsar and KLA would enter into a definitive agreement with established commercial terms, including proceeds distributed as royalty revenue payable to KLA."Michigan's Precambrian basement geology is highly prospective, and the region has not seen any activity for primary helium exploration," Pulsar Chief Executive Officer Thomas Abraham-James said.The company said it has assembled a team to evaluate the property.

$PLSR.V