SEOUL, SOUTH KOREA – MARCH 05: A currency dealer works in front of an electronic screen showing South Korea’s benchmark stock index (KOSPI) in a foreign exchange dealing room at the Hana Bank headquarters on March 05, 2026 in Seoul, South Korea. The latest flare-up in the Iran conflict has hammered export\u2011reliant markets in South Korea and Japan, knocking benchmark indexes sharply lower on fears that surging energy costs and a prolonged hit to risk appetite could undercut corporate earnings and growth across Asia’s trade\u2011driven economies. (Photo by Han Myung-Gu\/Getty Images)<\/p>\n
Han Myung-gu | Getty Images News | Getty Images<\/p>\n
Asia-Pacific markets gained on Wednesday after U.S. President Donald Trump suggested potential talks with Iran, lifting investor sentiment, even as Tehran denies any direct negotiations with Washington.<\/p>\n
Speaking at the Oval Office on Tuesday, Trump said the U.S. and Iran were “in negotiations right now” and suggested Tehran was keen to strike a peace deal, adding he had stepped back from threats to target<\/a> Iranian energy infrastructure “based on the fact we’re negotiating.”<\/p>\n South Korea’s Kospi <\/a>jumped 1.59% to end at 5,642.21 while the small-cap Kosdaq was 3.40% higher, ending the trading day at 1,159.55.<\/p>\n Australia’s\u00a0S&P\/ASX 200<\/a> rose 1.85% to close at 8,534.3.<\/p>\n Japan’s Nikkei 225<\/a> gained 2.87% to 53,749.61, while the Topix added 2.57% to 3,650.99.<\/p>\n Hong Kong’s Hang Seng index<\/a> added 1.09%, while the CSI 300 gained 1.4% to 4,537.47.<\/p>\n Pop Mart shares plunged over 23% despite its annual revenue surging about 185% year on year to 37.12 billion yuan<\/a> ($5.4 billion), and adjusted net profit soaring more than 284%. <\/p>\n Morningstar said Pop Mart’s blockbuster growth continues to be driven by its flagship Labubu franchise, warning that the company remains heavily reliant on a narrow set of IPs despite efforts to diversify, with expansion into areas such as licensing and theme park operations carrying elevated execution risks.<\/p>\n Amid signs of de-escalation in the Mideast conflict, oil fell on Wednesday. International benchmark\u00a0Brent crude<\/a>\u00a0futures dropped around 6% to $98.31 per barrel, while U.S.\u00a0West Texas Intermediate futures<\/a>\u00a0were also down 5% at $87.65 per barrel.<\/p>\n U.S. stock futures rose Tuesday night stateside, with S&P 500 futures<\/a>\u00a0and\u00a0Nasdaq 100 futures<\/a>\u00a0rising 0.7% and 0.8%, respectively.\u00a0Futures tied to the Dow Jones Industrial Average<\/a>\u00a0gained 318 points, or 0.7%.<\/p>\n Futures were higher after the\u00a0S&P 500<\/a>\u00a0pulled back, giving back some of the sharp gains seen in the previous session, as crude prices rose again while the Iran war entered its fourth week.<\/p>\n The broad market index lost 0.37% and ended at 6,556.37, while the\u00a0Dow Jones Industrial Average<\/a>\u00a0shed 84.41 points, or 0.18%, and settled at 46,124.06. The\u00a0Nasdaq Composite<\/a>\u00a0dropped 0.84% and closed at 21,761.89.<\/p>\n \u2014CNBC’s Sean Conlon and Lisa Kailai Han contributed to this report.<\/p>\n