An electronic stock board displays the Nikkei 225 Stock Average outside a securities firm in Tokyo, Japan, on Jan. 28, 2025.
Toru Hanai | Bloomberg | Getty Images
Asia-Pacific markets traded lower Thursday, after Iran’s parliamentary speaker charged the U.S. of breaching the terms of the two-week ceasefire agreement.
On Wednesday, U.S. President Donald Trump had announced a “double sided” ceasefire, more than a month into a war with Iran.
“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.”
The ceasefire was contingent on Iran agreeing to reopen the Strait of Hormuz. Tehran had said that it would stop “defensive” operations 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.
Iran’s parliamentary speaker Mohammed Bagher Ghalibaf subsequently accused the U.S. of breaching the ceasefire deal. The violations highlighted were 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.
South Korea’s Kospi was down 1.53% while the small-cap Kosdaq declined 1.38%.
Japan’s Nikkei 225 fell by 0.77%, while the Topix was 0.78% lower. Japanese Finance Minister Satsuki Katayama on Thursday warned about the effect of cross-market volatility on interest rates, Reuters reported. “Interest-rate increases transmitted from other markets can materialize much more rapidly than we anticipate,” she said.
Australia’s S&P/ASX 200 was flat.
China’s CSI 300 fell 0.64%, tracking broad losses among other Asian markets. Hong Kong’s Hang Seng Index declined 0.30%.
India’s Nifty 50 was 0.3% lower. On Wednesday, the country’s central bank warned that the Iran war had raised inflation worries while also flagging risks to economic growth.
Oil futures extended gains. The West Texas Intermediate futures for May traded at 2.85% higher to $97.10 per barrel by 9:06 p.m. ET. International benchmark Brent June futures gained 1.97% to $96.62 per barrel.
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