Original Source
US-Iran Ceasefire Agreed, Hormuz Strait Reopened; Asia Markets Show 'Cautious Optimism'
US-Iran Ceasefire and Hormuz Strait Reopening
US President Donald Trump announced a two-week ceasefire between the United States and Iran. This agreement will see Iran temporarily reopen the vital Strait of Hormuz. Trump declared a halt to attacks, which was imminent if Iran did not reopen the waterway, stating he had received a 'workable' 10-point proposal. Subsequently, Iran confirmed its agreement to safe passage in the Strait of Hormuz.
Reaction in Asian Markets
The news of the ceasefire and the reopening of the Strait of Hormuz brought welcome relief to Asian markets on Wednesday. The Strait of Hormuz is a crucial shipping lane through which a fifth of the world's seaborne oil passes. The de-escalation of tensions in the region is expected to have a positive impact on global energy market stability. Markets are viewing this agreement with 'cautious optimism'.
*Source: SCMP (2026-04-08)*
