Asia Stocks Rally as Trump Signals U.S.-Iran Deal Nears End

Asian markets jumped in early trade on Thursday after President Donald Trump announced that the United States and Iran are in the “final stages” of negotiating a peace deal, a development that removed an immediate war premium from energy markets and pushed oil prices sharply lower.

The Nikkei 225 rose about 3.4% and South Korea’s KOSPI climbed roughly 6.6% in early trading. Australia’s ASX 200 gained about 1.7%. Investors shifted into cyclical and technology stocks after the geopolitical relief.

U.S. oil futures fell near 5% for both WTI and Brent as traders priced out the near-term supply risk tied to the Strait of Hormuz. The U.S. 10-year Treasury yield eased around 10 basis points from recent highs during the session.

Chipmaker Nvidia reported blockbuster results for the April quarter, with revenue of $81.6 billion, up 85% year-on-year, and net income of $58.3 billion. Nvidia’s shares slipped about 1.3% in after-hours trade, while the Philadelphia Semiconductor Index rose more than 4% on renewed buying in AI hardware-related names.

Minutes from the Federal Reserve’s April meeting showed several policymakers remained open to further rate increases if inflation proves persistent. The minutes effectively reduced near-term talk of rate cuts ahead of the incoming Fed chair, keeping attention on the trajectory of longer-term yields.

Central bank and currency moves added to the market picture. Bank Indonesia raised its policy rate by 50 basis points, which supported the rupiah and helped stem capital outflows. The Japanese yen steadied near 159 per dollar amid renewed official warnings about intervention should the currency weaken past 160. The Australian dollar fell about 0.5% after labor data showed unemployment rose to 4.5% in April.

Commodity and safe-haven prices moved alongside equities and bonds. Brent and WTI futures both dropped about 5% on the reduced geopolitical premium. Spot gold rose about 1.4% to $4,544 an ounce as traders balanced a lower immediate war risk against still-elevated rate expectations.

Corporate filings and sector news featured alongside macro flows. SpaceX submitted paperwork for a large initial public offering targeted for mid-June. Japanese reactor manufacturers forecast stronger demand for nuclear equipment as Tokyo advances green financing measures focused on batteries and clean technologies.

Market participants face several data releases later in the session that could affect risk, rates and currencies. Preliminary S&P Global manufacturing and services PMIs for the eurozone, the UK and the U.S., along with U.S. weekly jobless claims, are scheduled for release and may influence moves across equities, bonds and FX.