US-Iran Ceasefire Signals Boost Market, Asia-Pacific Stocks Open Higher Across the Board, Japanese Stocks Surge 3%, Korean Stocks Trigger Circuit Breaker
Trump's statement of "ending the war in two to three weeks" and the Iranian President's simultaneous expression of willingness for peace talks have instantly ignited the market. The Japanese stock market surged 3.4%, the South Korean stock market opened 5.5% higher and directly triggered a circuit breaker, European stock futures rose nearly 2%, and oil prices stabilized at the high of $100
On Wednesday, signals of a ceasefire between the US and Iran boosted the market. Global stock markets, which had previously suffered heavy losses, rebounded strongly. Overnight US stocks recorded their largest single-day gain in recent times. Asia-Pacific markets opened higher today, with Japanese stocks surging 3% and South Korean stocks triggering a circuit breaker, while oil prices stabilized after a decline.
According to CCTV News, Iranian President Rouhani stated that Iran is willing to end the war, provided its demands are met, especially guarantees against further aggression. According to Xinhua News Agency, US President Trump said at the White House on the evening of March 31 that the US will end its war with Iran within "two to three weeks," possibly reaching an agreement with Iran before then.
Both the US and Iran have released conciliatory statements, significantly boosting investor sentiment. US President Trump had previously told aides that he was willing to end military operations against Iran, even if the Strait of Hormuz remained largely closed.
MSCI Asia Index rose 1%, the Nikkei 225 index opened 1.8% higher, later expanding its gains to 3.4%, and the TOPIX index rose 3.1%.
The South Korean Seoul Composite Index opened 5.5% higher. The Korea Exchange activated the circuit breaker mechanism for the KOSPI index after the KOSPI 200 futures rose by 5%, halting program trading for 5 minutes.
WTI crude oil stabilized after a 1.5% decline on Tuesday, hovering around $102 per barrel.
European Stoxx 50 Index futures and German DAX Index futures widened their gains to 1.9%.
The US dollar weakened against emerging market currencies across the board, with the South Korean won extending its intraday gains against the dollar to 0.9%.
Continually updating
