Asian markets today: Nikkei 225, Kospi jump up to 6% on hopes of US-Iran war to end soon

Asian stock markets rallied on May 21, 2026, following strong US gains and easing oil prices amid hopes the US-Iran conflict could soon end. Japan’s Nikkei 225 climbed 3.06% after April trade data showed exports surging 14.8% year-on-year, led by semiconductor shipments, while the trade deficit narrowed to 301.9 billion yen. South Korea’s Kospi jumped 6%, with Samsung Electronics rising over 6% after avoiding a strike through wage negotiations. Australia’s S&P/ASX 200 advanced 1.66%, and Hong Kong’s Hang Seng futures traded higher. The optimism stemmed from US President Donald Trump’s statement that Washington was in the ‘final stages’ of negotiations with Iran, though Tehran’s foreign ministry confirmed ongoing communications. Oil prices fluctuated, with WTI crude at $98.75 per barrel and Brent at $105.42, after earlier declines of over 5% on May 20. US markets had also rebounded, with the Dow Jones gaining 645 points, the S&P 500 up 79 points, and the Nasdaq rising 399 points, driven by tech and semiconductor stocks ahead of Nvidia’s earnings. SoftBank Group shares surged nearly 20% following strong AI-driven earnings from Nvidia, reinforcing investor confidence in tech growth. The broader market recovery followed a three-session US decline, as elevated oil prices and interest rate pressures temporarily eased. Analysts noted that Asian markets responded strongly to the improving backdrop, with South Korea’s Kospi and Japan’s Nikkei leading gains. Wall Street’s major indices closed higher on May 20, with the Dow Jones up 1.31%, the S&P 500 rising 1.08%, and the Nasdaq gaining 1.55%. Nvidia’s shares increased 1.3% ahead of its quarterly earnings report, as investors awaited confirmation of sustained AI demand. The rally reflected broader optimism about easing geopolitical tensions and strong corporate performance in key sectors.