Asia markets trade lower as investors assess fragile Iran-U.S. ceasefire deal
Iran's parliamentary speaker charged the U.S. of breaching the terms of the two-week ceasefire agreement.
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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 trade lower Thursday, as investors fret over news that 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 violating the ceasefire deal. The violations are the 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 0.90% while the small-cap Kosdaq declined 0.74%. Japan's Nikkei 225 fell by 0.59%, while the Topix slipped 0.42%. Australia's S&P/ASX 200 was 0.12% lower.
Oil futures extended gains. The West Texas Intermediate futures for May rose 3.52% to $97.72 per barrel by 9:06 p.m. ET. International benchmark Brent June futures gained 2.91% to $97.51 per barrel.
