Global stock markets surged on Thursday, driven by renewed optimism surrounding a potential Middle East ceasefire and the expected resumption of vital shipping routes.

• Tokyo Stock Market reached an all-time high, following similar records in key US indexes.
• Investors are anticipating the reopening of the Strait of Hormuz, through which a fifth of global oil and gas typically passes.
• Despite economic pressures, China's economic growth exceeded expectations, expanding 5.0% in the first quarter.