Asian markets today: Asian markets were mixed in early trading on Tuesday, 16 June, with South Korea emerging as the top performer, after reports of a peace agreement between Iran and the US boosted investor sentiment. attention has now shifted to a series of central bank policy meetings, including expectations of a rate hike by the Bank of Japan.
South Korea’s Kospi climbed 2.01% at the open, while the small-cap Kosdaq slipped 0.56%, on Tuesday.
Japan’s Nikkei 225 edged up 0.18%, whereas the broader Topix index declined 0.39%. Meanwhile, Hong Kong’s Hang Seng futures were trading at 24,799, slightly below the benchmark index’s previous close of 24,842.67.
What’s driving Asian markets today?
Asian saw a rally after an announcement by President Donald Trump that the United States and Iran had agreed to a deal aimed at ending the conflict in the Middle East.
Pakistani Prime Minister Shehbaz Sharif stated that both parties had agreed to cease military operations across all fronts, with a formal signing ceremony scheduled for Friday in Switzerland.
Meanwhile, a senior Trump administration official was quoted as saying by CNBC that the memorandum of understanding had already been electronically signed on Sunday.
Beyond geopolitical developments, investors are closely watching a series of key central bank meetings this week. The Bank of Japan is expected to raise interest rates to their highest level in 31 years on Tuesday.
Following the policy announcement, Deputy Governor Shinichi Uchida will address the media, while Governor Kazuo Ueda is set to miss the briefing as he undergoes medical treatment.
Meanwhile, Reserve Bank of Australia is likely to keep interest rates unchanged, pausing its tightening cycle at its upcoming policy meeting, according to Reuters.
US stock market today
surged on Monday, with the Nasdaq jumping more than 3% and the Dow Jones Industrial Average closing at a record high after the US and Iran reached a preliminary agreement aimed at ending the conflict in the Middle East and reopening the Strait of Hormuz. The development helped ease inflation concerns as crude oil prices declined.
All three major US indices posted gains for a third straight session, rebounding after geopolitical tensions in the Middle East and weakness in AI-linked stocks had interrupted the market’s record-setting rally earlier this month.
The Dow Jones Industrial Average advanced 468.77 points, or 0.92%, to finish at 51,671.03. The S&P 500 rose 122.83 points, or 1.65%, to 7,554.29, while the Nasdaq Composite climbed 795.10 points, or 3.07%, to 26,683.94, marking its strongest single-day percentage gain since March 31.
(With inputs from agencies)
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