ABAN24 - Asian markets quickly reacted positively from early Wednesday morning to the establishment of a ceasefire between the United States and Iran, surging sharply.
Associated Press reported from Tokyo that Asian stock indices surged after oil prices fell in response to the ceasefire with Iran.
The report adds that following a drop in oil prices due to an agreement between the United States and Iran for a two-week ceasefire, which reportedly includes the reopening of the Strait of Hormuz under Iranian management, stock markets across Asia have risen.
Japan’s Nikkei 225 index rose 5.0 percent in early trading to 56,106.18 points. South Korea’s KOSPI index increased 5.9 percent to 5,819.97 points. Australia’s S&P/ASX 200 index jumped 2.6 percent to 8,952.30 points. Hong Kong’s Hang Seng index rose 2.6 percent to 25,767.42 points, while the Shanghai Composite Index increased 1.7 percent to 3,957.55 points.
Meanwhile, U.S. crude oil fell by $16.84 to $96.11 per barrel. Brent crude, the international benchmark, dropped by $14.51 to $94.76 per barrel.
/129
Your Comment