A potential 60-day US-Iran ceasefire and strong AI-driven tech gains drive Asian equities higher, with South Korea’s KOSPI hitting all-time highs.
Asian stocks climbed Friday after reports of a tentative 60-day ceasefire between the US and Iran eased inflation and shipping concerns. The deal, if approved, would require Iran to clear maritime mines from the Strait of Hormuz within 30 days, though US officials cautioned final approval remains pending.
The rally followed record closes on Wall Street, fueled by Dell Technologies’ 39% after-hours surge on robust data center demand. South Korea’s KOSPI led gains, reaching historic highs, while broader sentiment improved on reduced geopolitical risks and tech sector momentum.
Traders remained cautious amid mixed signals from US officials, including Vice President JD Vance, who noted progress but stressed Washington’s readiness to counter Iran’s nuclear program if needed.