The Nikkei 225 Index rose 0.5% to above 53,370 while the broader Topix Index gained 0.3% to 3,655 on Monday, with Japanese shares rising for the second straight session as investors weighed the latest developments in the Middle East. On Sunday, President Donald Trump threatened strikes on Iran’s power plants and other civilian infrastructure starting Tuesday if the Strait of Hormuz is not reopened, though Tehran dismissed the latest ultimatum and kept the narrow waterway effectively shut. Japan remains vulnerable to oil supply shocks given its heavy reliance on oil imports from the Middle East, with the nation releasing oil from its emergency reserves and seeking alternative sources for its energy needs. Notable market performers included Furukawa Electric (up 5.6%), SAKURA Internet (20.3%), Sumitomo Electric (4.4%), Lasertec (2.9%), and SoftBank Group (1.8%).

US stock futures declined on Monday after President Donald Trump set a new deadline for Iran and intensified threats against its power plants and other civilian infrastructure if the Strait of Hormuz is not reopened. Tehran rejected the latest demand and continued strikes on energy assets across the Middle East, while the critical waterway remains effectively closed. US equities came under heavy selling pressure as the conflict drove energy prices sharply higher, fueling speculation that the Federal Reserve may delay rate cuts and potentially raise borrowing costs this year if inflation persists. Meanwhile, data released during Friday’s holiday showed the US economy added 178K jobs in March, well above expectations of 60K, while the unemployment rate edged down to 4.3% and wage growth moderated. Investors are now turning to the latest Federal Open Market Committee minutes for further signals on the central bank’s policy path.

Gold slid toward $4,600 per ounce on Monday, extending losses from the prior session after President Donald Trump issued a fresh ultimatum to Iran and warned of strikes on its power plants and other civilian infrastructure if the Strait of Hormuz is not reopened. Trump said he would bring “Hell” to Iran and set a new deadline for Tuesday at 8 p.m. Eastern Time, while also indicating plans to hold a news conference at 1 p.m. on Monday. Tehran has rejected the latest ultimatum and continues to carry out attacks on energy assets across the Middle East. Gold remains down roughly 12% since the conflict began, as surging energy prices fueled inflation concerns and strengthened expectations of interest rate hikes. The metal has also struggled to perform its traditional safe-haven role, pressured by forced liquidations as investors moved to cover losses in other markets.

Riyad Bank Saudi Arabia’s PMI plunged to 48.8 in March 2026 from 56.1 in the prior month, signaling the first drop in the non-oil private sector in near six years and the steepest downturn since a record low in March 2020. The decline stemmed from Middle East war disruptions that strained supply chains and delayed client spending. New orders stalled, export demand shrank the most in six years, and output growth eased. Buying levels slowed, though inventories rose, reflecting limited stockpile reduction. Employment rose but at a weaker pace, while delivery times lengthened the most since June 2020 amid shipping delays and higher fuel costs. Supply constraints lifted backlogs to their highest since July 2018. On inflation, input cost rose the least in a year on softer wage pressures, though fuel and freight costs raised purchasing and selling prices. Sentiment dipped to its lowest since June 2020, as war concerns overshadowed support from government spending.

Vietnam’s annual inflation rate accelerated to 4.65% in March 2026 from 3.35% in the previous month, marking the highest level since January 2023 and the fastest March year-on-year CPI increase in the past five years. Upward price pressures were broad-based across most components, including food (4.72% vs 5.28% in February), beverages and tobacco (3.44% vs 3.03%), clothing, hats, and footwear (1.82% vs 1.87%), housing electricity, water, fuel and building materials (5.88% vs 5.60%), household equipment and goods (2.44% vs 2.23%), healthcare (1.0% vs 0.74%), transport (10.81% vs -3.19%), education (3.30% vs 3.21%), culture, entertainment and tourism (2.07% vs 2.31%), and other goods and services (4.01% vs 4.10%). At the same time, cost of communication remained broadly stable (-0.07% vs -0.24%). Core inflation rose to 3.96% in March from the prior 3.74%. On a monthly basis, consumer prices increased 1.23%, after 1.14% gain in February, the steepest pace since February 2021.

The US economy added 178K jobs in March 2026, the most since December 2024, following a revised decline of 133K in February, when a strike in the healthcare sector weighed on employment. The figure came in well above market expectations of 60K. Job gains were concentrated in healthcare (76K), mostly ambulatory health care services (54K), reflecting an increase of 35K in offices of physicians as workers returned from a strike. Construction added 26K jobs following weather-related declines during the winter. Transportation and warehousing created 21K jobs, manufacturing added 15K and employment in social assistance continued its upward trend (14K). On the other hand, federal government employment continued to decline (-18K) and declines were also seen in financial activities (-15K). The change in payrolls for January was revised up by 34K to 160K, and the change for February was revised down by 41K to -133K. Employment combined for the two months is 7K lower than early reported.