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2026-04-08 09:40:07
[Ceasefire Announcement Triggers Market Rally: Oil Prices Fall Below $100, Asian Stocks Surge] 1. US President Trump previously announced a two-week suspension of military strikes against Iran, provided Iran agrees to immediately reopen the Strait of Hormuz. Iran's Supreme National Security Council has agreed to allow ships "safe passage," and negotiations between the two sides will begin on Friday. This news boosted Asian markets with a sense of relief. 2. Oil prices fell sharply, with both WTI and Brent crude falling below the $100 mark. Near-month WTI crude fell as much as 19.39% to $91.05, and Brent crude fell as much as 16% to $91.77. Market concerns about energy-driven inflation and the drag on economic growth have eased. 3. Asian stock markets generally rose, with the Nikkei index rising 4.7% to a one-month high, the South Korean KOSPI index rising 6% to a more than two-week high, and the Australian S&P/ASX 200 rising as much as 3% to a one-month high. Government bond prices rose, with the yield on 10-year Japanese government bonds falling 4.5 basis points and Australian government bonds falling 10 basis points. Most Asian currencies strengthened against the US dollar, and the dollar index fell 0.8% to a near one-month low. Analysts warned that the market should not rush into action. The ceasefire is only for two weeks, and whether it can evolve into a lasting agreement remains uncertain. If no agreement is reached after two weeks, this relief rally could face a sharp reversal. The real turning point for global markets will be the reopening of shipping lanes and the return of oil prices to normalcy.
