BANGKOK — Shares opened sharply higher in Asia on Thursday after a rebound on Wall Street, as South Korea’s Kospi took back the 12% it had shed a day earlier.
In Tokyo, the Nikkei 225 jumped 4.3%, to 56,600.44. The Kospi was at 5,702.02 and trading was suspended after the benchmark shot up shortly after the open.
Australia’s S&P/ASX 200 picked up 0.3% to 8,927.20, while New Zealand’s benchmark rose 0.9%.
However, U.S. futures were little changed, with the contract for the Dow Jones Industrial Average nearly flat while that for the S&P 500 edged 0.2% higher.
U.S. stocks rebounded after oil prices stopped spiking and reports gave encouraging updates on the American economy.
The S&P 500 rose 0.8% Wednesday and erased much of its losses since the war with Iran began. The Dow Jones Industrial Average added 0.5%, and the Nasdaq composite climbed 1.3%.
Uncertainty about the war in the Middle East has rattled financial markets this week, with most taking their cues from what the price of oil is doing.
Oil prices moderated throughout Wednesday.
After briefly topping $84, the price for a barrel of Brent crude, the international standard, settled at $81.40, back to where it was a day earlier. A barrel of benchmark U.S. crude rose 0.1% to $74.66.
However, oil resumed its upward climb early Thursday, gaining 2.4% to $83.32 per barrel. U.S. benchmark crude jumped 2.5% to $76.53 per barrel.
