Stocks rallied after US President Donald Trump announced a ceasefire in the Israel-Iran conflict, although the situation remained unclear.
Bangkok: Stocks rallied Tuesday after US President Donald Trump announced a ceasefire in the Israel-Iran conflict, although the situation remained unclear as attacks continued.
Trump said Israel and Iran had agreed to a “complete and total ceasefire” soon after Iran launched limited missile attacks Monday on a US military base in Qatar, retaliating for the American bombing of its nuclear sites over the weekend.
Uncertainty remained, with Israel not immediately confirming any ceasefire. It was unclear what the missile launches would do for the ceasefire’s timeline.
Trump’s announcement on Truth Social said the ceasefire wouldn’t begin until about midnight Tuesday, Eastern time. He said it would bring an “Official END” to the war.
US futures advanced, as contracts for the S&P 500 and the Dow Jones Industrial Average gained 0.5%.
In Asia, Tokyo’s Nikkei 225 rose 1% to 38,756.00 and the Hang Seng in Hong Kong gained 1.7% to 24,078.94.
The Shanghai Composite index climbed 0.9% to 3,411.92.
In South Korea, the Kospi jumped 2.3% to 3,082.90, while Australia’s S&P/ASX 200 gained 0.9% to 8,551.40.
Oil prices fell further, after tumbling on Monday as fears subsided of an Iranian blockade of the Strait of Hormuz, a vital waterway for shipping crude.
