- 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.
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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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