Japanese and South Korean equities rise on tech gains

Nikkei 225 added 1.2%, while KOSPI climbed almost 3%, supported by strength in technology shares

Japanese and South Korean equities rose in thin holiday trade on Friday with strength in technology shares, while investors watched for updates in the ongoing U.S.-Iran war.

Trading volumes remained subdued, with several markets, including Hong Kong, Australia, and Singapore, closed for the Good Friday holiday.

Nikkei 225 added 1.2%, while KOSPI climbed almost 3%, supported by strength in technology shares.

Investor sentiment steadied on Thursday after Iran said it was working with Oman on a framework to manage shipping traffic through the Strait of Hormuz.

Oil prices surged above $110 per barrel on Thursday on escalation fears.

In China, data showed that services sector growth cooled in March, with the RatingDog Services PMI dropping to 52.1 from February’s 33-month high of 56.7, although it remained in expansion territory.

Shanghai Composite index declined 0.9%, while the blue-chip Shanghai Shenzhen CSI 300 index edged 0.6% lower.

Meanwhile in the U.S., investors now await local nonfarm payrolls data due later in the day for further cues on the country’s central bank’s policy outlook.

Local stock indexes ended little changed overnight, while futures tied to them were largely muted in Asian trading on Friday.

However, caution persisted following escalating rhetoric from U.S. president. In a Truth Social post late Thursday, the president warned that U.S. forces had “not even started” their campaign in Iran and could next target critical infrastructure, including bridges and electric power plants.

The comments followed a speech earlier in the day in which the president said the U.S. could intensify military action in the coming weeks, while offering little clarity on a timeline for de-escalation, unsettling local markets.