Asian Stocks Surge on US-Iran Conflict End Hopes

Asian stock markets surged Wednesday on renewed optimism that the United States could end its military campaign against Iran within two to three weeks, following comments from President Donald Trump the previous day. The rally capped a strong performance on Wall Street and eased some pressures from the monthlong conflict that has disrupted global energy supplies and fueled inflation.

Trump stated Tuesday that the U.S. would conclude its attacks on Iran "probably in two to three weeks" and would not intervene in subsequent developments at the Strait of Hormuz, a vital chokepoint for about one-fifth of the world's oil shipments. His remarks came amid criticism of U.S. allies for limited involvement in the war effort, urging them to secure their own oil supplies. The White House announced that Trump would deliver a public address on the conflict at 9 p.m. Eastern Time Wednesday.

The news triggered broad gains across major indices. In South Korea, the Kospi index climbed as much as 6.1 percent to 5,312.45 in early trading, boosted by strong March economic data including a 48.3 percent year-on-year surge in exports and robust factory activity driven by semiconductor demand. Japan's...