06:31 AM EDT, 04/02/2026 (MT Newswires) -- Asian stock markets swung from rally to retreat on Thursday, after US President Donald Trump indicated in his late Wednesday address that strikes on Iran will continue for two to three weeks, and that plans to reopen the Strait of Hormuz lay outside Washington.

Hong Kong, Shanghai and Tokyo finished in the red, as did most other regional exchanges.

In Japan, the Nikkei 225 opened evenly but declined after Trump's talk, finishing off 2.4% as traders mulled a renewed rise in oil prices.

The benchmark Nikkei 225 fell 1,276.41 to 52,463.27, as losing issues outnumbered gainers 180 to 43.

Leading the upside was truck-maker Archion, up 7.9%, while Sumitomo Pharma declined 9.6%.

In Hong Kong, the Hang Seng Index opened lower and could not recover, closing down 0.7% on the Middle East outlook.

The broad gauge Hang Seng fell 177.50 to 25,116.52, as losing issues outnumbered gainers 46 to 38. The Hang Seng TECH Index lost 1.6% on the day, while the Mainland Properties Index fell 1.1%.

Leading the upside was Geely Automobile, gaining 8.4%, while property-concern Longfor declined 3.7%.

On the mainland, the Shanghai Composite fell 0.7% to 3,919.29.

On the other regional exchanges, the S. Korean KOSPI fell 4.5%; the Taiwan TWSE declined 1.8%; the Australian ASX 200 declined 1.1%; the Singapore Straits Times Index fell 0.6%, and the Thai Set declined 0.4%. In late trading in Mumbai, the Sensex was up 0.3%.

The MSCI All Country Asia Pacific Index fell 2% on the day.