Asian markets today: In South Korea, the Kospi dropped 2.82%, and the small-cap Kosdaq slipped 3%. Australia’s S&P/ASX 200, which had opened higher, edged down 0.48%.(Photo: AFP)AI Quick ReadAsian markets today: Asian markets gave up earlier gains on Thursday, April 2, as investors reacted to President Donald Trump’s address on the Iran war.
Japan’s Nikkei 225 fell 1.4% following the speech, while the Topix declined 0.94%.
South Korea's Kospi dropped 2.82%, and the small-cap Kosdaq slipped 3%. Australia’s S&P/ASX 200, which had opened higher, edged down 0.48%.
Hong Kong’s Hang Seng index also opened 0.5% lower after the address, while mainland China’s CSI 300 remained largely unchanged.
Back home, trends in Gift Nifty also suggest a gap-down opening for Indian benchmark indices. Gift Nifty was trading near the 22,356 mark, reflecting a discount of about 444 points compared to the previous close of Nifty futures.
In his speech, Trump reiterated that US objectives in Iran were nearly achieved, asserting that “we have all the cards” in the conflict. He also warned that Washington would strike Iran “very hard” over the next two to three weeks.
“Over the next two to three weeks, we’re going to bring them back to the stone ages where they belong,” the president said.
Trump’s speech comes at a time when the administration is facing mounting scrutiny over its strategy in the Iran war, with growing calls for a clear roadmap toward de-escalation. Now in its fifth week, the conflict has intensified geopolitical uncertainty and disrupted critical global energy routes.
Earlier on Wednesday in the US, Trump claimed that Iran’s “new regime president” had sought a ceasefire—an assertion Tehran has denied.
He further said the US would “consider” such a proposal only if the Strait of Hormuz was “open, free, and clear,” according to his post on Truth Social.
However, a report by the Wall Street Journal revealed that Trump had previously indicated a willingness to end the U.S. military campaign against Iran even if the Strait of Hormuz remained closed.
(This is a developing story)
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Vaamanaa covers business and stock market news. Started in 2020, she has been producing news on digital platforms for over 4.5 years now. She writes on markets, commodities, IPOs, and industry. She has worked for news channels like Jagran New Media and Business Insider India. You can reach out to her at vaamanaa.sethi@htdigital.in.