Asian stocks rise sharply after news of Israel-Iran ceasefire

Stock index board in Tokyo, Japan. (Photo: Kyodo/VNA)

Most Asian stock markets recorded strong gains on the morning of June 24 after US President Donald Trump announced that Israel and Iran had reached a ceasefire agreement to end the 12-day conflict.

In Japan, at the opening of the trading session, stock indexes on the Tokyo market all recorded strong increases and maintained their upward momentum throughout the morning session.

The Nikkei 225 index jumped more than 600 points at one point immediately after President Trump's announcement, before narrowing its gains due to the stronger yen, affecting export stocks.

At the end of the morning session, the index increased by 415.03 points (1.08%) to 38,769.12 points. The Topix index increased by 21.26 points (0.77%) to 2,782.44 points.

On the Prime Market, the stocks with the strongest growth were in the fields of air transport, electrical equipment and securities companies. The USD exchange rate weakened against the Japanese yen after the ceasefire news.

In South Korea, Korean stocks rose more than 2% at the end of the morning session on the same day, in which the KOSPI composite index jumped 68.65 points, equivalent to 2.28% to 3,083.12 points at 11:20 (local time).

Most large-cap stocks rose after the news was revealed by the US President, with Samsung Electronics up 3.28%, SK hynix up 7.51%, Samsung Biologics up 0.71%, LG Energy Solution up 1.87% and Hyundai Motor up 1.49%.

On the contrary, the oil refining and internet service stocks fell slightly. SK Innovation fell 1.65%, while Naver - the company that operates the leading information portal in Korea, lost 2.07%.

The won exchange rate against the USD also increased compared to the previous session, 1 USD was exchanged for 1,366.95 won/USD, an increase of 17.35 won.

Meanwhile, Chinese stocks opened mixed in the morning session with the Shanghai Composite Index down 0.04% to 3,380.08 points; the Shenzhen Component Index up 0.26% to 10,074.27 points.

In Hong Kong (China), as of 11:41, the Hang Seng index increased by 460.87 points (1.92%) to 24,155.00 points, while the FTSE China 50 index increased by 2.11% to 16,820.01 points.

In Oceania, the Australian stock market also opened positively on the morning of June 24, with the benchmark S&P/ASX 200 index rising 85.50 points (equivalent to 1.01%) to 8,560.90 points as of 13:43 on the same day (local time). In contrast, the New Zealand stock market opened in the red, with the NZX 50 index falling 59.98 points, equivalent to 0.48%, to 12,472.67 points.

Previously, President Trump announced that a ceasefire agreement between Israel and Iran had been agreed upon and would officially take effect at 7:00 a.m. on June 24, Israel time (11:00 a.m. the same day, Vietnam time).

According to Mr. Trump's statement, Iran will immediately end its attacks, while Israel will join the ceasefire 12 hours after the agreement begins. After 24 hours, the two sides are expected to officially declare an end to the 12-day war.

Meanwhile, Iranian Foreign Minister Abbas Araghchi announced that his country will stop attacks if Israel stops airstrikes from 4:00 a.m. Iran time (7:30 a.m. Vietnam time)./.

Source: https://baolangson.vn/chung-khoan-chau-a-tang-manh-sau-tin-ve-thoa-thuan-ngung-ban-giua-israel-iran-5051046.html