But the big question remains whether that momentum (now mostly historic) will last.
Indexes in Japan, South Korea and Taiwan notched records early in the session, though those gains quickly reversed and it was largely a sea of red across most bourses as the trading day got underway.
Investors are having hard time going all out on risk when Iran has seized two ships in the Strait of Hormuz and as a fragile ceasefire hangs in the balance for now.
The U.S. military has meanwhile intercepted at least three Iranian-flagged tankers in Asian waters and is redirecting them away from their positions near India, Malaysia and Sri Lanka, shipping and security sources said.
Brent crude futures were firmly back above $100 a barrel.
It's another busy day for Europe with more corporate earnings and a slew of flash PMI readings from the UK, Germany, France and the broader euro zone due.
As it is, companies from consumer goods to travel and mining have already struck a cautious tone, warning that the Middle East war is driving up costs, disrupting supply chains and hurting consumer confidence, clouding financial outlooks.
Governments are also starting to sound the alarm on the impact higher energy prices are having on their economies.
New Zealand's economic recovery has been delayed but not derailed, Finance Minister Nicola Willis said on Thursday, after the conflict lifted fuel costs and dented business and consumer sentiment.
That comes a day after Germany's economy ministry cut its growth forecasts for 2026 and 2027 and raised its inflation projections.
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