Asian markets displayed strength on Tuesday as the sentiment around the Middle East conflict improved after Donald Trump’s ceasefire declaration.
US President Donald Trump on Tuesday announced that a ceasefire between Israel and Iran had taken effect, urging both countries not to break the truce.
This announcement came as deadly attacks were still being reported in both nations, including Iranian missile strikes that killed several people in Israel just hours after the ceasefire was declared.
Israeli Prime Minister Benjamin Netanyahu confirmed that Israel had agreed to Trump’s ceasefire proposal.
He stated that Israel had accomplished its objective of neutralising Iran’s nuclear and ballistic missile threat, but warned that Israel would respond forcefully to any violations of the agreement.
Asian markets close: Japan’s Nikkei surges 1.14%
Japan’s Nikkei 225 index witnessed a sharp rebound on Tuesday as it ended at 38,790, 1.4% up from the previous close.
SoftBank jumped 5–5.6%, Tokyo Electron rose 3.6–3.7%, and Advantest gained modestly.
A stronger yen, appreciating 0.7% to 145, capped further gains, weighing on exporters like Honda, Nissan, and shipping and energy firms including Inpex.
Hong Kong’s Hang Seng Index closed with a strong rally, jumping 487.94 points, or 2.06%, to finish at 24,177.07, marking its biggest one-day gain in more than five weeks.
The surge was driven largely by tech companies and automakers, with the Hang Seng Tech Index rising 2.1% and the Hang Seng Automobile Index gaining over 3%.
Kospi 100 near all-time high
South Korea’s KOSPI ended the day at 3,103.64, climbing 89.17 points, or 2.96%, from the previous session.
The index has been on a steady upward trend since the new government took office, gaining 15% over the past three weeks.
It now sits just 202 points shy of its all-time high of 3,305.21, last reached on July 6, 2021.
China’s CSI 300 index also traded in the green on Tuesday as the geopolitical conditions improved and the oil prices displayed signs of stabilisation.
Australian stocks followed closely to end higher on Tuesday, boosted by strong performances in the Metals & Mining, Materials, and Financials sectors.
The S&P/ASX 200 rose 0.95% by the end of the trading session in Sydney.
Sensex, Nifty shed early gains
Indian benchmark indices traded mixed on Tuesday. Sensex and Nifty 50 started the day on an optimistic note but witnessed sharp reversals around the closing bell.
The investor’s mood changed with the developing situations in the Middle East, where Israel and Iran continue to exchange missiles despite a ceasefire call from US President Donald Trump.
Sensex closed 158 points (0.19%) higher at 82,055.11, while the Nifty 50 settled 72 points up at 25,044.35.
The defence stocks, which were doing well amid rising geopolitical tensions saw profit booking today.
Garden Reach Shipbuilders & Enginers stocked slumped 9% on Tuesday, while the shares of Hindustan Aeronautics Limited (HAL) also traded 3% down.
Seventeen of the eighteen stocks in the Nifty Defence index opened lower, with some falling more than 6-7% in early trading.
The post Asian markets celebrate Trump’s ceasefire call; Kospi 100 near all-time high appeared first on Invezz
