Japan's Nikkei hits record high as Asia markets rise amid Middle East concerns
A stock broker at the Prudential Brokerage office follows the Hang Seng Index results in Hong Kong in March 2020. Asia-Pacific markets opened broadly higher
A stock broker at the Prudential Brokerage office follows the Hang Seng Index results in Hong Kong in March 2020. 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. The Strait of Hormuz is a critical waterway, particularly for the energy market globally — around 20% of the world's oil supplies passed through the strait before the war.
The BriefWire