Oil prices fell below $100 per barrel, while Asian stocks rose sharply Wednesday after US stock indexes hit their best in almost a year amid renewed hopes for a quick end to the Iran war, reports AP.

South Korea's KOSPI (Korea Composite Stock Price Index) recovered losses from the beginning of the week, rising 8.4% to 5,478.70 points, while Tokyo's Nikkei 225 rose 5.2% to 53,739.68 points.

A survey published today by the Bank of Japan showed that business sentiment among the country's largest manufacturers has improved despite concerns about the Iran war.

Hong Kong's Hang Seng Index rose 2.3% to 25,346.42, while the Shanghai Composite Index rose 1.5% to 3,948.55. Australia's S&P/ASX 200 rose 2.2% to 8,671.80, Taiwan's Taiex rose 4.6%, while India's Sensex rose 2.4%.

US futures rose 0.7%.