Stock market today: Japan's Nikkei, Wall Street futures gain on upbeat tech earnings as major markets close for public holidays

Trading activity remained muted, as key markets across China, Hong Kong, Singapore, and India were closed for public holidays. Asian stock markets bounced back on Friday, with investor sentiment improving as oil prices cooled and strong corporate earnings boosted demand for tech stocks. Meanwhile, Japan’s first intervention to support the yen in two years helped stabilize the weakened currency. Regional markets followed the lead of a robust U.S. trading session, where both the S&P 500 and Nasdaq Composite climbed to new record levels, driven by strong corporate earnings and easing oil prices. After close, Apple posted better-than-expected quarterly results, further boosting confidence in the technology sector. Tech optimism lifted markets as optimism over continued profit growth pushed the S&P 500 up more than 10 percent during April, while the Nasdaq Composite rallied around 15 percent, marking its strongest monthly performance since 2020. Futures pointed to a slightly positive start on Friday, with S&P 500 futures rising about 0.21 percent and Nasdaq futures edging up 0.13 percent. April was exceptionally strong across Asian stock markets, with Japan’s Nikkei 225 jumping 16 percent, Taiwan’s Taiwan Weighted Index surging 23 percent, and South Korea’s KOSPI gaining nearly 31 percent over the month. On Friday, holiday-thinned trading left Asian markets with a muted reaction, with Japan’s Nikkei 225 gaining 0.60 percent and the broader TOPIX index rising 0.28 percent. Australian equities added 0.7 percent, while the broader MSCI index of Asia-Pacific shares outside Japan also rose modestly, up around 0.3 percent. Despite calm sessions, Asian stock markets remain highly exposed to energy price shocks, as the region relies heavily on imported oil and gas. Ongoing disruptions to oil flows through the Strait of Hormuz continue to underscore this vulnerability. Market gains were restrained by rising geopolitical tensions. Reports suggested that U.S. President Donald Trump was expected to be briefed on possible military strike options against Iran, heightening concerns about further escalation. Iran warned that any additional U.S. attack would provoke “long and painful strikes” against American targets in the region. The Strait of Hormuz remained effectively closed, disrupting a key corridor for global oil shipments and tightening supply expectations. Brent crude briefly jumped above $126 per barrel on Thursday, its highest level in four years, before easing later in the session. Currency markets saw heightened volatility after reports that Japanese authorities had intervened on Thursday, selling dollars to support the yen. The move initially pushed the U.S. dollar down sharply by about five yen to a two-month low of 155.50. However, demand for the dollar returned on Friday, lifting it back to 157.28, suggesting Tokyo may need further intervention if serious about defending the 160 yen level. A wave of dollar selling also indirectly supported other major currencies, with the euro rising to $1.1729 after briefly touching a three-week low of $1.1655. The pound similarly strengthened, reaching a 10-week high of $1.3612. Both currencies also drew support from more hawkish central bank signals. The Bank of England cautioned that escalating energy prices linked to the Iran conflict could necessitate interest rate increases, with one policymaker even backing an immediate hike. Meanwhile, European Central Bank President Christine Lagarde said rate decisions were under active discussion, stressing that incoming data over the next six weeks would be crucial in determining the policy path.