MSCI’s broadest index of Asia-Pacific shares outside Japan climbed 0.9%, marking a third straight day of gains, while Japan’s Nikkei 225 surged 2.2% to a fresh peak. U.S. equity futures also pointed higher, with S&P 500 e-mini contracts up 0.2%.

The gains followed a strong session on Wall Street, where the S&P 500 rose 0.8% and the Nasdaq Composite advanced 1.6%, supported by robust earnings from Bank of America and Morgan Stanley. With roughly 6% of companies having reported results so far, about 84% have exceeded analysts’ expectations.

Analysts at Goldman Sachs said they remained constructive on emerging market equities, citing expectations of solid profit growth driven in part by demand linked to artificial intelligence, which they said could remain relatively insulated from energy market shocks.

Attention in Asia is also turning to earnings from Taiwan Semiconductor Manufacturing Co, a key supplier in the global semiconductor industry, with forecasts pointing to a sharp rise in quarterly profit on strong demand for advanced chips.

In currency markets, the U.S. dollar index was little changed at 98.02, as easing geopolitical tensions tempered safe-haven demand and investors adjusted expectations for monetary policy easing by the Federal Reserve. The euro hovered near its highest level since the Iran conflict began, extending a multi-day rally.

Oil prices edged higher, with Brent crude rising 0.3% to $95.23 per barrel, after indications that Iran could allow safer maritime passage through the Strait of Hormuz as part of ongoing negotiations with the United States. Supply concerns were also heightened by a refinery fire in Australia.

Chinese equities gained after data showed the economy expanded 5.0% year-on-year in the first quarter, exceeding expectations and suggesting resilience despite geopolitical headwinds. Analysts cautioned, however, that prolonged conflict could weigh on global demand and exports.

Australian markets were more subdued, with shares slightly lower and the currency steady after employment data showed stable labor market conditions, reinforcing expectations that inflation risks remain a key concern for policymakers at the Reserve Bank of Australia.

Gold rose 0.6% as investors balanced improving risk sentiment with lingering uncertainty, while major cryptocurrencies edged lower in cautious trading.