06:34 AM EDT, 03/25/2026 (MT Newswires) -- Asian stock markets rallied on Wednesday on elevated trader hopes for a resolution of the Middle East conflict, following reports that US President Donald Trump was pushing a 15-point peace plan for Iran.

Softer global oil prices aided sentiments.

Hong Kong, Shanghai and Tokyo finished solidly in the green, as did other regional exchanges.

In Japan, the Nikkei 225 opened higher and rose to the close, finishing up 2.9% as traders weighed a possible resumption of oil-tanker shipments from the Middle East to the Asia Pacific.

The benchmark Nikkei 225 rose 1,497.34 to 53,749.62, as gaining issues outnumbered losers 202 to 22.

Leading the upside was insurer Tokio Marine, up 14.6% after Iran reportedly sent a letter to the International Maritime Organization stating that "non-hostile vessels" can pass unharmed through the Strait of Hormuz. Staffing agency Recruit declined 1.9%.

In Hong Kong, the Hang Seng Index opened higher and held ground, closing up 1.1% as traders monitored Persian Gulf developments.

The broad gauge Hang Seng rose 272.24 to 25,335.95 as gaining issues outnumbered losers 64 to 24. The Hang Seng TECH Index gained 1.9% on the day, while the Mainland Properties Index rose 0.6%.

Leading the upside was online delivery service Meituan, gaining 13.9%, while toymaker Pop Mart International declined 22.5%, the latter after reporting earnings.

On the mainland, the Shanghai Composite rose 1.3% to 3,931.84.

On the other regional exchanges, the South Korean KOSPI rose 1.6%; the Taiwan TWSE inclined 2.5%; the Australian ASX 200 inclined 1.9%; the Singapore Straits Times Index rose 0.9%, and the Thai Set inclined 3.4%. In late trading in Mumbai, the Sensex was up 1.5%.

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