--- title: "Japan and South Korea Stocks Roar Back. Nikkei Opens Up 1,000 Points as Trump TACO Triggers Oil Price Plunge" type: "News" locale: "en" url: "https://longbridge.com/en/news/280233675.md" description: "On March 24, Japanese and South Korean stocks surged, with the Nikkei 225 rising 1.7% and the Kospi index up 4.3%. This rally was fueled by a rebound in U.S. equities following Trump's announcement to postpone strikes on Iran's energy infrastructure, which led to a significant drop in oil prices. WTI crude and Brent crude fell over 14% but later recovered. Analysts suggest that the restoration of crude oil flows through the Strait of Hormuz is crucial for market stability." datetime: "2026-03-24T00:59:16.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/280233675.md) - [en](https://longbridge.com/en/news/280233675.md) - [zh-HK](https://longbridge.com/zh-HK/news/280233675.md) --- # Japan and South Korea Stocks Roar Back. Nikkei Opens Up 1,000 Points as Trump TACO Triggers Oil Price Plunge TradingKey - On Tuesday, March 24, Japanese and South Korean stocks opened higher. The Nikkei 225 rose 1.7% at the open, surging 1,000 points, while South Korea's Kospi index opened up 4.3%, with heavyweight SK Hynix jumping more than 6%. The rally in Asia-Pacific markets was primarily driven by the overnight rebound in U.S. equities. On the news front, Trump announced on Monday ET that he would postpone strikes on Iran's energy infrastructure. He had previously demanded on Saturday that Iran open the Strait of Hormuz within 48 hours or face strikes on various power plants. Although Mohammad Bagher Ghalibaf, the Speaker of the Iranian Parliament, later posted on social media denying any dialogue with the U.S., Trump's remarks have significantly reversed market trends. WTI crude oil and Brent crude once plummeted by more than 14% during the session, gold recovered most of its intraday losses. The three major U.S. stock indices all closed higher by more than 1%, with the Dow at one point surging nearly 1,000 points. As Iran denied reports of negotiations, crude oil has since turned positive, with Brent crude rebounding to $98 and WTI rising to $90. Analysts believe Trump's statement is only one part of the story. Brock Weimer of Edward Jones noted that the most compelling de-risking signal would be the restoration of actual crude oil flows through the Strait of Hormuz. Currently, the situation in the strait remains severe, with only a few vessels passing through the critical waterway. Find out more ### Related Stocks - [1584.JP](https://longbridge.com/en/quote/1584.JP.md) - [513520.CN](https://longbridge.com/en/quote/513520.CN.md) - [3175.JP](https://longbridge.com/en/quote/3175.JP.md) - [OXY.US](https://longbridge.com/en/quote/OXY.US.md) - [IEZ.US](https://longbridge.com/en/quote/IEZ.US.md) - [03175.HK](https://longbridge.com/en/quote/03175.HK.md) - [CRAK.US](https://longbridge.com/en/quote/CRAK.US.md) - [VDE.US](https://longbridge.com/en/quote/VDE.US.md) - [OIH.US](https://longbridge.com/en/quote/OIH.US.md) - [IXC.US](https://longbridge.com/en/quote/IXC.US.md) - [BNO.US](https://longbridge.com/en/quote/BNO.US.md) - [USO.US](https://longbridge.com/en/quote/USO.US.md) - [XOP.US](https://longbridge.com/en/quote/XOP.US.md) - [513880.CN](https://longbridge.com/en/quote/513880.CN.md) - [1313.JP](https://longbridge.com/en/quote/1313.JP.md) - [603353.CN](https://longbridge.com/en/quote/603353.CN.md) - [IEO.US](https://longbridge.com/en/quote/IEO.US.md) - [3097.JP](https://longbridge.com/en/quote/3097.JP.md) - [UCO.US](https://longbridge.com/en/quote/UCO.US.md) - [03097.HK](https://longbridge.com/en/quote/03097.HK.md) - [03153.HK](https://longbridge.com/en/quote/03153.HK.md) - [YCS.US](https://longbridge.com/en/quote/YCS.US.md) ## Related News & Research - [Capital Economics sees oil at $150 per barrel through 2027 in an extreme case](https://longbridge.com/en/news/286549728.md) - [ROI-ENERGY WATCH: Alarms and clocks](https://longbridge.com/en/news/286796437.md) - [Inflation surges as nearly the entire country hates Trump’s economy](https://longbridge.com/en/news/286117997.md) - [Oil rises more than 1% after drone attack on UAE nuclear power plant](https://longbridge.com/en/news/286683769.md) - [Citi bull case Brent hitting $150 near term as oil markets under-price disruption risk](https://longbridge.com/en/news/286992430.md)