Asian stock markets jump; China data, Middle East in focus

KOSPI soared 3.4% to a six-week high, while Nikkei 225 added 2.5%

Asian stock markets jumped in broad-based buying on Tuesday, buoyed by strong gains in technology and chip stocks, while investors also digested weaker-than-expected trade data from China.

KOSPI soared 3.4% to a six-week high, with SK Hynix Inc adding around 9% recent gains to hit a new record high.

Samsung Electronics shares also jumped more than 4%, as investors piled into chipmakers and exporters tied to international tech demand.

Nikkei 225 added 2.5%. Shares of tech-investor SoftBank Group climbed more than 10%.

Straits Times Index edged 0.6% higher, while S&P/ASX 200 rose 0.4%.

Futures tied to Nifty 50 gained 0.5%.

Markets were also closely watching developments in the U.S.-Iran war after weekend ceasefire talks failed to produce a breakthrough.

U.S. has since reportedly moved ahead with a naval blockade of Iranian ports and the Strait of Hormuz, a key global oil waterway.

At the same time, media reports indicated that Washington and Tehran are discussing a potential second round of face-to-face talks aimed at extending the ceasefire before it expires.

However, sentiment was tempered by new data from China showing a sharp slowdown in exports.

Outbound shipments rose just 2.5% year-on-year in March, missing expectations for an 8.3% rise and slowing significantly from a 21.8% surge in the January-February period.

Imports, by contrast, climbed 27.8%, far exceeding forecasts and signalling resilient domestic demand.

The data also showed China’s trade surplus narrowing sharply to around $51 billion, well below expectations, highlighting pressure on the country’s export engine amid rising global uncertainty.

Shanghai Composite index gained 0.8%, while the blue-chip Shanghai Shenzhen CSI 300 edged 0.6% higher.

Hang Seng index ticked up 0.4%.