Asian Markets

• Asian equity markets surged following signals from Iran's President Masoud Pezeshkian indicating willingness to pursue a ceasefire with the United States, with Trump stating military action could conclude within two to three weeks. • South Korea's Kospi jumped 8.1% to 5,461.51, Japan's Nikkei 225 gained 4.5% to 53,352.96, and Hong Kong's Hang Seng rose 2% amid improved investor sentiment. • The geopolitical shift triggered broad rallies across Asia-Pacific exchanges including Australia's ASX 200 climbing 2% and Taiwan's Taiex jumping 4.4%.

• Asian stock markets declined sharply as geopolitical tensions persisted, with South Korea's Kospi dropping 3.4%, Japan's Nikkei 225 falling 1.2%, and Taiwan's Taiex losing 2.2%, erasing year-to-date gains for some indexes. • Oil markets remained elevated with Brent crude holding near $113 per barrel and US benchmark crude at approximately $103, marking a surge of more than 40% since the Iran conflict began five weeks ago. • A reported drone strike on a Kuwaiti oil tanker and ongoing regional attacks reinforced supply security concerns, keeping markets highly sensitive to geopolitical developments despite signals the US may seek conflict resolution.