Nikkei 225 climbs 2% past 71,000 as South Korea’s Kospi adds 1%

Asian equities opened higher as Japan’s Nikkei 225 rose 2% to cross 71,000 for the first time and South Korea’s Kospi gained 1%. Brent crude fell more than 1% in early Asian trading to below $79 a barrel after US President Donald Trump signed a temporary agreement aimed at restoring access through the Strait of Hormuz. Iran had not immediately confirmed it had begun fully reopening the strait, leaving questions over the deal’s effectiveness. US stocks fell sharply on Wednesday after the Federal Reserve kept rates unchanged but signaled additional hikes may be needed.