Asian stocks jump as Nikkei 225, Hang Seng, Kospi cheer potential US-Iran deal

NI225 +3.04% KOSPI +0.41% HSI +0.86% Asian stock indices jumped on Monday morning as market participants predicted that the US and Iran will extend the ceasefire by 60 days. In Japan, the Nikkei 225 Index jumped by 2.85%, extending the gains made last week and reaching a record high. It was trading at 65,110 yen, up by 76% in the last 12 months. Nikkei 225, Kospi, Hang Seng, and global indices jump amid US-Iran deal hopes The same rally happened in South Korea, where the blue-chip Kospi Index jumped to KRW 7,847, a few points below the all-time high of 8,048 KRW. It has soared by over 200% in the last 12 months and is the best-performing global benchmark this year. In China, the Shanghai Composite Index jumped by over 1%, while Hong Kong’s Hang Seng Index jumped by 0.86%. The same trend happened in Europe and the United States, where futures tied to key benchmarks like DAX, CAC 40, Stoxx 50, IBEX, and Dow Jones continued their recent uptrend. This rally was triggered by the weekend events in which President Donald Trump announced a potential deal with Iran that prevented an attack as most analysts were expecting. The media has reported that the deal will lead to a 60-day ceasefire that will allow the two sides to negotiate a good deal. Still, there are concerns that a deal that satisfies the two sides remains far off. Besides, the current ceasefire has lasted 47 days, and they have not made any tangible progress in this period.