The Nikkei futures contract in Chicago was trading at 56,735, while its counterpart in Osaka was last at 57,000.

In an expletive-filled social media post, Trump also vowed to bring "Hell" to the country after the U.S. forces had rescued an American airman shot down in Iran last week.

Trump renewed threat to target Iran's civilian infrastructure if a peace deal is not reached in less than 24 hours, while signaling Iranian leadership is negotiating in earnest.

Earlier, U.S. stocks swung sharply during regular trading as uncertainty about the war with Iran increased after Trump had threatened that a “whole civilization will die tonight."

Trump noted that the "double sided" ceasefire was contingent on Iran agreeing to an opening of the Strait of Hormuz.

Asia-Pacific markets were set to open higher after President Donald Trump said he agreed to suspend planned attacks on Iranian infrastructure for two weeks.

Markets are rejoicing after President Donald Trump announced a two week cease-fire with Iran and Tehran signaled a reopening of the Strait of Hormuz.

European stocks are expected to open sharply higher on Wednesday following news of the U.S. and Iran's ceasefire deal.

The Nikkei futures contract in Chicago was trading at 56,735, while its counterpart in Osaka was last at 57,000.

Stocks extended their rally on Thursday after President Donald Trump agreed to a two-week ceasefire with Iran.