US and Iran Reportedly Agree to Halt Mutual Attacks, Asian Stocks Mostly Higher

(CNA Hong Kong, 29th, Foreign News) The United States and Iran exchanged fire over the weekend, casting doubt on their fragile ceasefire agreement. However, following reports that the US and Iran have agreed to halt mutual attacks, Asian stock markets closed mostly higher today, and international oil prices edged up.

According to AFP, markets anticipate that the US and Iran will finalize an agreement to end their conflict and reopen the Strait of Hormuz. However, the negotiation process remains tense. Recent exchanges of fire have disrupted shipping in the Strait of Hormuz, raising market concerns that Iran might block the strait again.

Meanwhile, investor confidence remains weak. Last week, the Middle East crisis and concerns about a tech bubble fueled by the artificial intelligence (AI) boom led to a roller-coaster ride in the markets.

However, US media reported on the evening of the 28th, citing senior US officials, that both the US and Iran have agreed to halt mutual attacks and plan to hold the next round of talks in Qatar on the 30th.

Asian stock markets closed mostly higher today, with Tokyo, Hong Kong, Shanghai, Sydney, Wellington, Taipei, Manila, and Bangkok stocks rising; Seoul, Mumbai, and Jakarta declined.

International oil prices rose again today after falling back to pre-war levels last week. US West Texas Intermediate (WTI) crude futures rose more than 1%. (Compiled by Chen Cheng-chien) 1150629

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