Asian equity markets climbed after President Donald Trump signaled progress toward resolving the US-Iran conflict, sending oil prices lower and risk assets higher across the board. The move rippled through crypto markets too, with Bitcoin surging roughly 5% to reclaim levels near $77K during trading sessions that followed the comments.
What’s driving the rally
The catalyst this time is Trump’s suggestion that a comprehensive agreement with Iran could be imminent. That language, combined with a pause in military operations and discussions around reopening the Strait of Hormuz for oil shipments, gave markets exactly what they wanted: a reason to be optimistic.
Japan’s Nikkei 225 and South Korea’s Kospi both posted notable gains. Oil prices, which have been the mirror image of equity sentiment throughout this conflict, fell on the prospect of resumed shipments through one of the world’s most critical energy chokepoints.
The Strait of Hormuz handles roughly a fifth of global oil supply on any given day.
