Japan's Nikkei hits record high as Asia markets rise amid Middle East concerns
Japan's Nikkei 225 has reached a record high as Asia-Pacific markets rise despite ongoing tensions in the Middle East. Investors seem to be overlooking the uncertainty surrounding U.S.-Iran negotiations. The Strait of Hormuz remains a critical waterway for global oil supplies amidst these tensions.
- ▪Japan's Nikkei 225 hit a record high on Wednesday.
- ▪Tensions between the U.S. and Iran have escalated, with Secretary of State Marco Rubio highlighting Iran's actions in the Strait of Hormuz.
- ▪The Pentagon has reportedly destroyed numerous mines and over 40 minelaying vessels in the region.
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Asia-Pacific markets opened broadly higher Wednesday, with Japan's Nikkei 225 hitting a record high, as investors appeared to look past uncertainty over U.S.-Iran negotiations aimed at ending the Middle East conflict. Tensions have escalated between Washington and Tehran, with Secretary of State Marco Rubio saying on Tuesday that Iran has mined "large segments" of the Strait of Hormuz."They're firing on commercial ships and they've mined large segments of Hormuz — international waters," Rubio told the Senate Foreign Relations Committee. This marks his first appearance before Congress since the Iran war on Feb. 28.A White House official told CNBC that the Pentagon has destroyed numerous mines and over 40 minelaying vessels.
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