Asian stocks rally as Nikkei hits record high on Wall Street gains and strong China GDP

Asian equity markets track Wall Street records

Asian stocks rose sharply on Thursday after Wall Street closed at all-time highs. The S&P 500 gained 0.80% to 7,022.95, while the Nasdaq Composite advanced 1.59% to 24,016.02.

Japan’s Nikkei 225 climbed 2.62% to 59,655.01, setting a new record high. Elsewhere in the region, South Korea’s KOSPI gained 1.91%, Hong Kong’s Hang Seng Index rose 1.53%, and mainland China’s Shanghai Composite advanced 0.62%. The broad regional rally reflected improved risk appetite following the U.S. market performance.

China GDP surprise supports regional sentiment

China’s economic data provided an additional boost to Asian markets. The country’s gross domestic product grew 5% year-on-year in the first quarter of 2026, surpassing expectations of 4.8% and accelerating from 4.5% in the fourth quarter of 2025. The stronger-than-expected GDP figures contributed to more positive sentiment across regional equity markets.

In parallel, geopolitical developments in the Middle East remained in focus. Reports indicated that Washington and Tehran are considering extending their two-week ceasefire to allow more time for negotiations, even as the Strait of Hormuz remains effectively closed under a dual blockade. Market participants monitored these developments for potential impacts on energy and broader risk conditions.

Commodities, Bitcoin, and currency moves

Oil prices were steady despite the ongoing closure of the Strait of Hormuz. West Texas Intermediate (WTI) crude traded at $91.52 per barrel, while Brent crude stood at $94.90.

Gold prices advanced, with the metal rising to $4,843 per ounce. Bitcoin moved higher as well, trading above $75,000. In foreign exchange markets, the U.S. dollar index held near six-week lows as risk appetite improved on growing hopes for a Middle East peace deal.

FAQ

Which major Asian index reached a record high?
Japan’s Nikkei 225 reached a record high, rising 2.62% to 59,655.01.

How did China’s latest GDP data compare with expectations?
China’s GDP grew 5% year-on-year in Q1 2026, beating expectations of 4.8% and accelerating from 4.5% in Q4 2025.

What were the latest closing levels for major U.S. indices mentioned?
The S&P 500 closed at 7,022.95, up 0.80%, and the Nasdaq Composite closed at 24,016.02, up 1.59%.

How did key commodity and crypto prices move?
WTI crude was at $91.52, Brent at $94.90, gold rose to $4,843 per ounce, and Bitcoin traded above $75,000.