Asia-Pacific markets experienced a decline on Thursday, following accusations from Iran’s parliamentary speaker that the U.S. violated the terms of their two-week ceasefire agreement. On Wednesday, U.S. President Donald Trump 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 stated in a post on Truth Social. “We received a 10-point proposal from Iran, and believe it is a workable basis on which to negotiate.” The ceasefire depended on Iran’s agreement to reopen the Strait of Hormuz. According to a statement from Iran’s Foreign Minister, Tehran had indicated that it would cease “defensive” operations if the attacks on the country were brought to a halt. Reports indicate that Israel has also consented to the ceasefire.

Iran’s parliamentary speaker Mohammed Bagher Ghalibaf accused the U.S. of breaching the ceasefire deal. The violations emphasized included the denial of the Islamic Republic’s right to enrich uranium and Israel’s ongoing assaults on Lebanon, along with a drone’s incursion into Iranian airspace, he stated. Japan’s Nikkei 225 declined by 0.73%, closing at 55,895.32, whereas the Topix experienced a drop of 0.90%, finishing at 3,741.47. South Korea’s Kospi experienced a decline of 1.61%, closing at 5,778.01, while the small-cap Kosdaq fell by 1.27% to settle at 1,076. Mainland China’s CSI 300 declined by 0.64% to 4,566.22, while Hong Kong’s Hang Seng Index experienced a drop of 0.71% during its final hour of trading. As of 4:00 a.m., India’s Nifty 50 experienced a decline of 0.89%, while the 30-stock index BSE Sensex fell by 0.96%.

On Wednesday, the country’s central bank issued a warning that the Iran war had heightened concerns about inflation while also highlighting risks to economic growth. Australia’s S&P/ASX 200 distinguished itself from the broader market, concluding the day at 8,973.2, reflecting an increase of 0.24%. International benchmark Brent crude futures for June delivery increased by 3.1% to $97.76 at 3:42 a.m., while U.S. West Texas Intermediate crude futures for May climbed 3.2% to $97.44. S&P 500 futures and Nasdaq 100 futures both experienced a decline of 0.3%. Futures linked to the Dow Jones Industrial Average declined by 146 points, representing approximately 0.3%.

In the U.S. overnight, stocks experienced a significant surge following President Donald Trump’s decision to suspend attacks on Iran for a period of two weeks, effectively pausing a five-week conflict that had disrupted a vital waterway for global energy supplies. The Dow Jones Industrial Average experienced a significant increase of 1,325.46 points, equivalent to 2.85%, reaching a total of 47,909.92. That marked the benchmark’s most significant day since April 2025, when Trump first softened the impact of his initial tariff announcement. The S&P 500 rose by 2.51% to reach 6,782.81, while the Nasdaq Composite climbed 2.80% to 22,635.00.