Asian market rises, Nikkei, KOSPI rise over 1.50% as US-Iran talk peace again

Asian stocks rose, and oil fell as a tentative agreement between the US and Iran to prolong their ceasefire came to pass.

The MSCI Asia Pacific Index increased by 0.7% as a result of rising gauges in South Korea and Japan. Japan's Nikkei 225 is up over 1.60%; the South Korean KOSPI is also surging, with an uptick of 1.70%.

That followed a record closing for both the Nasdaq 100 Index and the S&P 500 Index. With Dell Technologies Inc. rising over 38% in extended trade on its sales outlook, optimism on AI remained high.

Brent crude fell 0.4% to about $93.40 per barrel on Friday, boosting optimism that the three-month battle would be coming to an end after an agreement to prolong the ceasefire by 60 days and begin additional negotiations on Tehran's nuclear programme. The terms have not yet been approved by President Donald Trump.

The dollar declined against all major developed-market currencies, and Treasury rates fell throughout the curve during the US session.

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Concerns over fighting in the Persian Gulf were outweighed by optimism over a ceasefire extension, as markets speculated that a truce may lessen interruptions to petroleum exports.

Since the war started, the Strait of Hormuz has been closed, which has reduced oil exports and increased concerns about inflation. Markets are now anxiously awaiting any indications that the crucial route may reopen.

The S&P 500 Index is on course for a ninth consecutive week of gains, a run achieved four times since 1985, thanks to optimism about artificial intelligence stocks. A second week of advances is also anticipated for Asian stocks.