Global Market Today: Asian stocks rise on Iran optimism, Nvidia slips

South Korean stocks jumped over 4%, lifting the broader MSCI Asia Pacific Index 1.2%. Samsung Electronics Co. shares rose as much as 7% after reaching a last-minute deal with its labor union to avoid a strike.

A sense of caution crept into markets, with US equity-index futures falling 0.5%. Nvidia shares slipped in extended trading even as revenue from data center operators continued to surge. Technology stocks remained in focus with SpaceX filing for an IPO.

Brent crude oil edged higher to $105.60 a barrel after falling more than 5% in the previous session. That came after President Donald Trump said the US is in the “final stages” with Iran, raising expectations for a near-term restart of energy flows through the critical Strait of Hormuz. Treasuries surged on Wednesday, bouncing back after the recent selloff that was fueled by inflation concerns.

Optimism over a potential deal in the Middle East set the stage for Asian stocks to rebound after four days of losses driven by rising bond yields and concerns that the AI-fueled equity rally had stretched valuations too far. Investors have also been grappling with inflation risks from elevated oil prices, scaling back bets on interest-rate cuts and reviving speculation that borrowing costs could rise further.

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“Everyone wants to see this end, but negotiations so far have been far apart on key issues, with both sides expecting each other to blink first,” said veteran strategist Louis Navellier. “Even if a deal is struck, it may take some time to be sure it won’t be violated for things to fully return to normal.”

The S&P 500 Index rose over 1% and the tech-heavy Nasdaq 100 climbed 1.7% on Wednesday. A gauge of chip stocks surged 4.5%.The firming sentiment helped Treasuries gain across the curve Wednesday, while an index of the dollar edged lower. Traders eased some of their bets on the Federal Reserve raising interest rates by the end of the year. They still anticipate that the central bank’s next move will be a hike, in contrast to the multiple cuts seen before the US attacked Iran in late February.