Asian Markets Rally as Hopes Rise for Iran Conflict De‑escalation and Strong Economic Data Boost Korea, Japan
Asian markets are rallying sharply today on hopes of U.S.-Iran de-escalation and strong March economic data from South Korea and Japan. President Trump announced the U.S. could wrap up military actions in Iran within 2-3 weeks without needing a deal, sparking global optimism despite ongoing strikes.aljazeera+1
South Korea's Kospi surged up to 5.5% after exports jumped 48.3% year-on-year and factory activity hit a four-year high, led by semiconductors like Samsung (up 8%) and SK Hynix (up 7.8%). Japan's Nikkei leaped 3.9%, supported by improved manufacturer sentiment amid the conflict.business-standard+1
Wall Street futures are up, with S&P 500 e-minis +0.3% and Nasdaq +0.5%, following Tuesday's 2.9% S&P gain; Brent crude rose 1.1% to $105.16. Trump addresses the nation tonight at 9 p.m. ET on Iran progress.aljazeera+1
South Korea's Kospi hit 5.5% gains after March exports soared 48.3% year-on-year, exceeding forecasts, while Japan's Nikkei jumped 3.9% on improved business sentiment and U.S.-Iran truce hopes
Trump said U.S. military attacks on Iran could conclude in 2-3 weeks without requiring a Tehran deal, signaling de-escalation amid talks, though strikes persist.
The White House confirmed Trump will update on Iran at 9 p.m. ET Wednesday (1 a.m. GMT Thursday), focusing on potential off-ramps from the war.
Brent crude rose 1.1% to $105.16 after a prior dip; S&P 500 futures +0.3%, Nasdaq futures +0.5%, building on Tuesday's 2.9% S&P rally.
Fed funds futures now show 32% odds of a 25bp cut by late July (up from 7.5%), as traders bet on earlier action amid de-escalation signals.
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