Asia-Pacific markets decline 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 fell Thursday, after Iran's parliamentary speaker charged the U.S. of breaching the terms of their two-week ceasefire agreement.
On Wednesday, U.S. President Donald Trump had announced a "double sided" ceasefire, more than a month into the 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.
Japan's Nikkei 225 fell 0.73% to close at 55,895.32, while the Topix dropped 0.90% to 3,741.47.
South Korea's Kospi lost 1.61% to finish at 5,778.01, while the small-cap Kosdaq declined 1.27% to 1,076.
Mainland China's CSI 300 fell 0.64% to 4,566.22 and Hong Kong's Hang Seng Index was down 0.71% as of its last hour of trade.
India's Nifty 50 was 0.89% lower, and the 30-stock index BSE Sensex was down 0.96% as of 4:00 a.m. ET. On Wednesday, the country's central bank warned that the Iran war had raised inflation worries while also flagging risks to economic growth.
Australia's S&P/ASX 200 managed to buck the wider trend, closing 0.24% higher at 8,973.2.
International benchmark Brent crude futures for June delivery added 3.1% to $97.76 at 3:42 a.m. ET, while the U.S. West Texas Intermediate crude futures for May rose 3.2% to $97.44.
