Trump's remarks trigger a global stock market surge, while low trading volume suggests the rebound's foundation is weak.

BlockBeats message, April 1, despite President Trump’s remarks about a “redeployment within three weeks” igniting a retaliatory rebound across global stock markets, under the appearance of market prosperity, deep anxiety about the global economic outlook has not gone away. On Wednesday, the MSCI Asia-Pacific index logged its largest single-day gain since April 2025, and Europe’s STOXX 600 index also rose by 2.5%. However, tepid trading volume exposed the fragility of the rebound—taking Korea’s KOSPI as an example, volume was only 80% of the average level over the past month. Investors worry that even if the U.S. withdraws, the shipping blockade at the Strait of Hormuz will remain a long-term drag on the fundamentals. For now, Brent crude has fallen below $100, but it is still about 37% higher than before the war.

Analysts at institutions such as Goldman Sachs and Mizuho Securities said that the structural rise in energy costs will squeeze corporate profits and weaken purchasing power. In particular, for Asian emerging markets that rely on energy imports, capital outflows totaled as much as $68 billion last month—far exceeding the scale seen in the early stages of the pandemic. As the earnings season approaches, the real damage to corporate earnings from the war will soon be revealed, which could put an end to the current “rebound” at any time. (Jin10)