On Friday, Asian markets experienced notable gains, driven by optimism surrounding the potential reopening of the Strait of Hormuz amid the ongoing US-Iran conflict. South Korea's Kospi led the way with a remarkable 3.23% increase, while Japan's Nikkei 225 rose by 1.27%. Other markets in Hong Kong, Singapore, and Australia were closed for the Good Friday holiday. Reports indicated that Iran and Oman were working on a protocol to monitor transit through the Strait, which helped boost market sentiment. The closure of this crucial waterway has led to a surge in crude oil prices, with Brent crude rising 7.78% to $109.03 per barrel and US West Texas Intermediate (WTI) crude jumping 11.41% to $111.54. Meanwhile, Japan's services sector showed signs of slowing growth, with the S&P Global final Japan Services Purchasing Managers’ Index (PMI) falling to 53.4 in March, down from 53.8 in February. In the US, stock futures were relatively flat, reflecting a mixed performance on Wall Street, where the Dow Jones Industrial Average fell 0.13%.