Tuesday 24th June 2025: Asia-Pacific Markets Rally Amid Ceasefire Hopes Between Iran and Israel

Global Markets:

•  Asian Stock Markets : Nikkei up 1.59%, Shanghai Composite up 1.08%, Hang Seng up 1.39% ASX up 0.69%
• Commodities : Gold at $3351.35 (-1.79%), Silver at $36.08 (-0.29%), Brent Oil at $68.38 (-3.59%), WTI Oil at $66.08 (-3.33%)
• Rates : US 10-year yield at 4.334, UK 10-year yield at 4.492, Germany 10-year yield at 2.505

News & Data:

• (USD) Flash Manufacturing PMI 52.0  to 51.1 expected
• (USD) Flash Services PMI 53.1  to 52.9 expected

Markets Update:

Asia-Pacific markets rose on Tuesday following an announcement from U.S. President Donald Trump claiming that Iran and Israel had agreed to a ceasefire. “It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE … for 12 hours, at which point the War will be considered, ENDED!” Trump posted on Truth Social. While Israel has yet to make an official statement, Iran has publicly refuted the claim, casting doubt on the ceasefire’s legitimacy.

Regional markets reacted positively despite the uncertainty. Japan’s Nikkei 225 gained 1.59%, while the Topix index rose 1.32%. South Korea’s Kospi surged 2.09%, and the Kosdaq added 1.71%. Australia’s S&P/ASX 200 also advanced, up 0.69%. In Greater China, Hong Kong’s Hang Seng Index rose 1.38%, though mainland China’s CSI 300 index was flat.

The optimism also carried over to U.S. futures, which moved higher after the ceasefire announcement. Futures tied to the Dow Jones Industrial Average rose by 134 points, or 0.3%. S&P 500 futures added 0.4%, and Nasdaq 100 futures increased 0.6%, indicating investor relief and reduced geopolitical risk in the near term.

On Wall Street, the major indexes closed higher overnight as investors welcomed Iran’s restrained response to recent U.S. military actions. The Dow Jones Industrial Average climbed 374.96 points, or 0.89%, to close at 42,581.78. The S&P 500 rose 0.96% to 6,025.17, while the Nasdaq Composite advanced 0.94% to finish at 19,630.97.

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