Asia-Pacific markets rise after Trump says Israel and Iran agree to ceasefire

Asia-Pacific markets rose Tuesday after United States President Donald Trump announced that Iran and Israel have 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 wrote on Truth Social.

However, neither Iran nor Israel has publicly confirmed they have accepted Trump's ceasefire timeline.

Japan's benchmark Nikkei 225 climbed 1.59%, while the broader Topix index rose 1.32%. South Korea's Kospi jumped 2.09% and the small-cap Kosdaq index rose 1.71%. Australia's S&P/ASX 200 traded 0.69% higher.

Hong Kong's Hang Seng index stood at 23,721, pointing to a higher open compared to the HSI's last close of 23,689.13.

U.S. futures took a leg higher following Trump's announcement. Futures tied to the Dow Jones Industrial Average added 134 points, or 0.3%. S&P 500 futures gained 0.4%, while Nasdaq 100 futures rose 0.6%.

Overnight stateside, the three major averages closed higher as investors breathed a sigh of relief that Iran's response to the U.S. attacks over the weekend was more restrained than expected. The Dow Jones Industrial Average added 374.96 points, or 0.89%, ending at 42,581.78. The S&P 500 gained 0.96% and closed at 6,025.17, while the Nasdaq Composite climbed 0.94% and settled at 19,630.97.

Cryptocurrencies rally on reports of Israel-Iran ceasefire timeline

Bitcoin rose over 1.65% to $105,538 in early Asia hours on reports that Iran and Israel have agreed to a ceasefire timeline. Ether jumped over 3% to $2,426.85.

On Sunday, Bitcoin dropped below the $99,000 mark — its lowest level in more than a month — after the U.S. launched attacks on Iranian nuclear sites. Ether had also plunged over 10% at one point.

Stocks close higher

Stocks closed higher while oil tumbled on Monday, with investors largely shaking off escalating tensions in the Middle East.

The S&P 500 added 0.96% to finish the session at 6,025.17, while the Nasdaq Composite climbed 0.94% to 19,630.97. The Dow Jones Industrial Average gained 374.96 points, or 0.89%, to close at 42,581.78.

U.S. crude oil futures slipped more than 7% to settle at $68.51 per barrel, after hitting their highest level since January overnight.

Trump announces an Israel-Iran ceasefire timeline that he says will end the war

Trump announced on his social media platform that Israel and Iran have agreed to a “Complete and Total CEASEFIRE” that will begin around midnight Tuesday.

Representatives for Israel and Iran did not immediately appear to confirm the agreement.

Read Trump's full Truth Social post:

CONGRATULATIONS TO EVERYONE! It has been fully agreed by and between Israel and Iran that there will be a Complete and Total CEASEFIRE (in approximately 6 hours from now, when Israel and Iran have wound down and completed their in progress, final missions!), for 12 hours, at which point the War will be considered, ENDED! Officially, Iran will start the CEASEFIRE and, upon the 12th Hour, Israel will start the CEASEFIRE and, upon the 24th Hour, an Official END to THE 12 DAY WAR will be saluted by the World. During each CEASEFIRE, the other side will remain PEACEFUL and RESPECTFUL. On the assumption that everything works as it should, which it will, I would like to congratulate both Countries, Israel and Iran, on having the Stamina, Courage, and Intelligence to end, what should be called, “THE 12 DAY WAR.” This is a War that could have gone on for years, and destroyed the entire Middle East, but it didn't, and never will! God bless Israel, God bless Iran, God bless the Middle East, God bless the United States of America, and GOD BLESS THE WORLD!

—

U.S. crude prices tumble 7%

Crude prices tumbled Monday after Iran's response to U.S. attacks was more muted than traders feared. West Texas Intermediate futures settled more than 7% lower at $68.51 per barrel.

“I think people realize that things in the Middle East will eventually de-escalate and will be in place of a much safer, a much more stable Middle East and world as a whole,” Energy Secretary Chris Wright told CNBC on Monday as oil sold off, crediting President Donald Trump's foreign policy.