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Asia-Pacific markets were set to open mostly higher, as investors assess the implications of President Donald Trump’s decision to suspend attacks on Iran for two weeks.
“I agree to suspend the bombing and attack of Iran for a period of two weeks,” Trump said in a Truth Social post. “We received a 10-point proposal from Iran, and believe it is a workable basis on which to negotiate.”
However, the “double sided” ceasefire was contingent on Iran agreeing to reopening the Strait of Hormuz. Tehran, meanwhile, agreed to reopen the waterway for the next two weeks, if attacks on the country were halted, according to a statement from Iran’s Foreign Minister. Israel has also agreed to the ceasefire, media reports said.
But Iran’s parliamentary speaker Mohammed Bagher Ghalibaf, later on Wednesday, accused the U.S. of violating the ceasefire agreement. The violations are the denial of the Islamic Republic’s right to enrich uranium and Israel’s continued attacks on Lebanon, a drone’s entry into Iranian airspace, he said.
