Low angle view of tall buildings in Tokyo, Japan, showcasing diverse architectural styles
George Pachantoris moment | getty images
Asia-Pacific markets were set to open higher on Wednesday after US President Donald Trump said he had agreed to suspend planned attacks on Iranian infrastructure for two weeks.
The move was “subject to the Islamic Republic of Iran agreeing to the full, immediate and safe opening of the Strait of Hormuz,” he said. Wrote on Truth Social.
Iranian Foreign Minister Abbas Araghchi, on behalf of the country’s Supreme National Security Council, said in a post on Twitter that Tehran’s armed forces “Stop your defensive operations.“
Trump said the 2-week ceasefire is subject to Iran agreeing to the full, immediate and safe opening of the Strait of Hormuz. Araghchi said safe passage through the Strait of Hormuz would be possible through coordination with Iran’s armed forces over the next two weeks.
Trump said, America has received a 10-point proposal from Iran which is a practical basis for negotiations.
After this news, American crude oil prices fell. The West Texas Intermediate contract for May delivery fell more than 16% to $94.23 a barrel by 7:15 p.m. ET.
from japan Nikkei 225 The Chicago contract was trading at 56,040 and its Osaka counterpart at 54,040, while the index’s previous close was at 53,429.56.
Hong Kong markets were also sure to surge when trading resumed after the holidays. Hang Seng index futures were at 25,233 compared to its previous close at 25,116.53.
Futures tied to the Dow Jones Industrial Average rose 718 points, or 1.5%. S&P 500 futures rose 1.6%, and Nasdaq 100 futures climbed 1.7%.
Overnight in the US, the S&P 500 rose 0.08% to 6,616.85, while the Nasdaq Composite rose 0.10% to 22,017.85. The Dow Jones Industrial Average fell 85.42 points, or 0.18%, to 46,584.46.
—CNBC’s Sean Conlon and Lisa Kailai Hahn contributed to this report.
