- Asian stock markets rose following Wall Street gains and optimism over a US-Iran ceasefire
- MSCI Asia Pacific Index increased 0.7% with Japan's Nikkei up 1.6% and South Korea's Kospi up 1.5%
- US and Iran consider a two-week ceasefire extension to negotiate a peace deal, Bloomberg reported
Asian stock markets traded higher on Thursday, tracking overnight gains on Wall Street as optimism around a potential US-Iran ceasefire and robust corporate earnings buoyed sentiment. The MSCI Asia Pacific Index rose 0.7% as traders bet a de-escalation of the Gulf conflict will ease oil prices and lift economic growth.
Japan's benchmark Nikkei 225 index rose 1.6%, while the broader Topix gained 1.1%. South Korea's blue-chip Kospi index advanced 1.5%.
Australia's S&P/ASX 200 added 0.4%. Hong Kong Hang Seng index futures were at 26,129, compared with the index's last close of 25,947.32.
The Bloomberg Dollar Spot Index was little changed and the Japanese yen rose 0.1% to 158.83 per dollar.
The Iran war is "very close to over", President Donald Trump said in a interview that aired on Wednesday, again claiming that Tehran wants to "make a deal very badly".
The Iran war is “very close to over,” President Donald Trump said in a Fox Business interview that aired on Wednesday, again claiming that Tehran wants to “make a deal very badly.” The US and Iran are considering a two-week ceasefire extension to allow more time to negotiate a peace deal, Bloomberg News reported, reducing the risk of a resumption of fighting despite an intensifying standoff over the Strait of Hormuz.
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US Equities
Overnight on Wall Street, the S&P 500 gained 0.8%, ending at a record high of 7,022.95. The Nasdaq Composite advanced 1.59%, while the Dow Jones Industrial Average shed 72.27 points, or 0.15%.
During Asian trading hours, S&P 500 futures and Nasdaq 100 futures both traded 0.2% higher. Futures tied to the Dow Jones Industrial Average rose by 100 points, or 0.2%.
Oil Prices
Oil prices steadied on signs the US and Iran may extend a ceasefire and restart talks to end the war that's rocked energy markets. International benchmark Brent crude declined 0.36% to $94.59 per barrel. The West Texas Intermediate was down 0.38% at $90.94.
ALSO READ: Brent Crude Holds Below $95 On Ceasefire Extension Hopes Between US, Iran
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