FX.co ★ Asian Stocks Rally on 2-Week Ceasefire

Asian equity markets rallied on Wednesday after the US, Iran and Israel agreed to a two-week ceasefire to facilitate negotiations toward a potential agreement to end the war. President Donald Trump postponed planned strikes on Iranian civilian infrastructure, describing the move as a “double-sided ceasefire,” while Iran committed to reopening the Strait of Hormuz for two weeks, with all transit to be coordinated with Iran’s Armed Forces. Equities in South Korea and Japan climbed more than 5% and 4%, respectively. Australian shares also advanced over 2%, and markets in China and Hong Kong were set for robust openings.