Asia-Pacific markets rose on Tuesday after U.S. President Donald Trump announced that Iran and Israel have agreed to a ceasefire.
"It has been fully agreed by and between Israel and Iran that there will be a Complete and Total Ceasefire… for 12 hours, at which point the War will be deemed OVER!" Trump wrote on Truth Social.
However, neither Iran nor Israel has publicly confirmed that they have accepted Trump's ceasefire timetable.
Japan's benchmark Nikkei 225 rose 1.59%, while the broader Topix index gained 1.32%. South Korea's Kospi jumped 2.09% and the small-cap Kosdaq index gained 1.71%. Australia's S&P/ASX 200 traded 0.69% higher.
Hong Kong's Hang Seng Index rose 1.38%, while mainland China's CSI 300 was flat.
U.S. futures rose after Trump's announcement. Futures tied to the Dow Jones Industrial Average rose 134 points, or 0.3%. S&P 500 futures rose 0.4%, while Nasdaq 100 futures rose 0.6%.
Overnight domestically, the three major indexes closed higher as investors took comfort that Iran's response to the U.S. attack over the weekend was more restrained than expected. The Dow Jones Industrial Average rose 374.96 points, or 0.89%, to end at 42,581.78. The S&P 500 gained 0.96% to close at 6,025.17, while the Nasdaq Composite gained 0.94% to close at 19,630.97. (alg)
Source: CNBC
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