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Japanese Prime Minister Sanae Takaichi: The closure of the Strait of Hormuz will have a huge impact on the Indian Ocean and the Pacific Ocean regions.

Dubai Airport handled 2.5 million passengers in March, a 65.7% decrease year-on-year.

On May 4th, local time, on May 2nd, Ali Nikozadeh, Deputy Speaker of the Iranian Islamic Parliament, emphasized in an interview along the Strait of Hormuz that "the Strait of Hormuz will not return to its pre-war state, and Iran will absolutely not back down a single step from the Strait of Hormuz." Nikozadeh stated that Parliament will approve a "Strait of Hormuz Management Law," which includes: a permanent ban on Israeli ships passing through this crucial waterway; ships from "hostile states" must pay "war reparations" to obtain passage permits; and other ships will only need Iranian authorization to pass.

TSMC shares rose to 6.6%.

Sources indicate that Qatar Energy's official selling price for May marine crude oil is set at a premium of $17.05 per barrel to the Oman/Dubai price; and an official selling price for onshore crude oil is set at a premium of $18 per barrel.

Asian stocks surged on Monday, boosted by strong earnings reports from major U.S. tech companies and comments from President Trump that the U.S. would begin guiding some neutral ships stranded in the Persian Gulf through the Strait of Hormuz. The MSCI Asia Pacific Index, excluding Japan, rose as much as 2.7%, a record high. Benchmark indices in South Korea and Taiwan, both dominated by tech stocks, soared by more than 3.5%. SK Hynix shares jumped nearly 10%, and TSMC shares jumped over 6%. Dilin Wu, research strategist at Pepperstone Group, said the current strength in markets like South Korea is due to AI-driven trading or speculation. She said she is “cautiously optimistic about Asian markets overall” because geopolitical uncertainty and high oil prices could constrain stock markets.

On May 4th, Ryoo Sangdai, Senior Deputy Governor of the Bank of Korea, stated that it's time to consider raising interest rates, as economic growth seems unlikely to fall significantly short of the central bank's earlier forecasts, while inflation may exceed previous expectations. Ryoo, who is also a member of the Bank of Korea's Monetary Policy Committee, cited the stronger-than-expected economic resilience following the outbreak of the Middle East conflict and the rising inflationary pressures. The Bank of Korea has kept its benchmark policy rate unchanged since July of last year. In February, the Bank of Korea projected 2% economic growth and 2.2% inflation for the year. While policymakers initially expected the unrest in Iran to drag down economic growth and push up prices, recent data shows that the growth outlook has not deteriorated as feared due to strong semiconductor shipments, while inflation risks have increased. Regarding the won exchange rate, Ryoo stated that from an economic fundamentals perspective, the won remains weaker than in the past, although the market does not seem to see the current level as a major problem. The won recently hit its lowest level against the US dollar since the global financial crisis. Speaking about concerns about the economy's reliance on semiconductors, Ryoo stated that the key risk lies in whether the cycle shifts or whether the spillover effects are lower than expected, rather than the industry's increasing share itself.

U.S. Navy Secretary: Mr. President, your U.S. Navy and U.S. Marine Corps are ready—any place at sea, any time.

Trump will attend a small business summit at 3 p.m. ET on Monday (3 a.m. Tuesday Beijing time).

ANZ Bank: The global oil market supply-demand gap is projected to be 1.6 million barrels per day in 2026.

Hong Kong-listed film and television stocks weakened, with Shaw Brothers Holdings (00953.HK) falling more than 5%, Huanxi Media (01003.HK) falling more than 2%, and Damai Entertainment (01060.HK) and Orange Sky Golden Harvest (01132.HK) falling more than 1%.

Gai, a member of the Reserve Bank of New Zealand's Monetary Policy Committee, said: Current economic conditions support recommendations that go beyond the traditional framework.

Gai, a member of the Reserve Bank of New Zealand's Monetary Policy Committee, said: "Preemptive tightening is only justified when there is high synchronicity and effective coordination."

XPeng Motors (09868.HK) rose 3.5% after the company released its April vehicle delivery data.

As of 09:30 Beijing time, WTI crude oil futures were flat, while US natural gas futures rose 1.62%.

On May 4th, local time, the Israeli military issued a statement saying that its forces continued to strike targets of Hezbollah militants in Lebanon, intercepting several rockets and drones suspected of being launched by Hezbollah. On the same day, Lebanese sources reported that the Israel Defense Forces continued attacks on several areas in southern Lebanon, causing multiple casualties. Hezbollah issued a statement claiming that its militants struck several Israeli military targets that day.

The Bank of Korea: Not worried about the economy's over-reliance on the chip industry.