Berliner Boersenzeitung - Asian stocks rally as Trump says war to end 'very soon'

EUR -
AED 4.237139
AFN 75.575691
ALL 92.926099
AMD 421.584258
AOA 1059.141262
ARS 1720.239558
AUD 1.633857
AWG 2.079631
AZN 1.958462
BAM 1.955306
BBD 2.322982
BDT 142.383995
BHD 0.434884
BIF 3447.78333
BMD 1.153748
BND 1.477207
BOB 13.696477
BRL 5.952647
BSD 1.153303
BTN 110.015703
BWP 15.567996
BYN 3.419291
BYR 22613.465705
BZD 2.319583
CAD 1.607449
CDF 2624.777316
CHF 0.937588
CLF 0.026794
CLP 1054.548387
CNY 7.78238
CNH 7.783128
COP 3620.450472
CRC 522.960959
CUC 1.153748
CUP 30.574329
CVE 110.234736
CZK 24.241462
DJF 205.387173
DKK 7.475637
DOP 67.25212
DZD 153.438136
EGP 57.925197
ERN 17.306224
ETB 186.556683
FJD 2.552033
FKP 0.85383
GBP 0.853814
GEL 3.01708
GGP 0.85383
GHS 13.569745
GIP 0.85383
GMD 84.803903
GNF 10128.219401
GTQ 8.798584
GYD 241.547873
HKD 9.053613
HNL 30.913513
HRK 7.533846
HTG 150.799906
HUF 364.638656
IDR 20605.94375
ILS 3.455482
IMP 0.85383
INR 110.06291
IQD 1510.917932
IRR 1586057.719227
ISK 141.992108
JEP 0.85383
JMD 182.473067
JOD 0.818039
JPY 183.809979
KES 149.183378
KGS 100.894701
KHR 4672.757643
KMF 492.650316
KRW 1634.584805
KWD 0.356612
KYD 0.961065
KZT 537.83272
LAK 26022.081448
LBP 103281.940189
LKR 385.684143
LRD 208.176456
LSL 18.716324
LTL 3.406718
LVL 0.69789
LYD 7.355108
MAD 10.685552
MDL 20.033674
MGA 4962.723563
MKD 61.50918
MMK 2422.798424
MNT 4149.646379
MOP 9.321343
MRU 46.098744
MUR 54.307113
MVR 17.825361
MWK 1999.88562
MXN 19.687012
MYR 4.715394
MZN 73.132027
NAD 18.714783
NGN 1571.728125
NIO 42.438717
NOK 10.95619
NPR 176.0232
NZD 1.968023
OMR 0.443618
PAB 1.153303
PEN 3.899114
PGK 5.175624
PHP 70.607076
PKR 320.142058
PLN 4.304179
PYG 6867.174208
QAR 4.204346
RON 5.239751
RSD 117.335008
RUB 95.875231
RWF 1698.863044
SAR 4.323967
SBD 9.305027
SCR 15.844435
SDG 692.813204
SEK 11.008431
SGD 1.476982
SLE 28.283225
SOS 659.130468
SRD 43.780096
STD 23880.259372
STN 24.493276
SVC 10.091448
SZL 18.705189
THB 38.160797
TJS 10.628166
TMT 4.049656
TND 3.38637
TRY 55.100109
TTD 7.81028
TWD 37.167423
TZS 3057.430582
UAH 51.74849
UGX 4290.970724
USD 1.153748
UYU 46.438056
UZS 13713.532242
VES 877.154644
VND 30057.449416
VUV 136.653178
WST 3.149721
XAF 655.788328
XAG 0.017429
XAU 0.000262
XCD 3.118062
XCG 2.078674
XDR 0.81559
XOF 655.788328
XPF 119.331742
YER 273.676371
ZAR 18.65225
ZMK 10385.122988
ZMW 21.62525
ZWL 371.506466
  • RYCEF

    -0.0200

    20.55

    -0.1%

  • RBGPF

    2.2800

    72.16

    +3.16%

  • RIO

    -0.9200

    100.99

    -0.91%

  • CMSC

    -0.1300

    21.44

    -0.61%

  • NGG

    0.7900

    80.27

    +0.98%

  • RELX

    -0.2500

    35.37

    -0.71%

  • AZN

    -3.1600

    158.75

    -1.99%

  • BP

    0.2800

    43.16

    +0.65%

  • BTI

    -0.2400

    56.81

    -0.42%

  • GSK

    -1.2600

    50.9

    -2.48%

  • VOD

    0.1500

    15.9

    +0.94%

  • BCC

    0.7800

    85.53

    +0.91%

  • CMSD

    -0.0600

    21.63

    -0.28%

  • JRI

    0.0000

    12.73

    0%

  • BCE

    0.8300

    23.37

    +3.55%

Asian stocks rally as Trump says war to end 'very soon'
Asian stocks rally as Trump says war to end 'very soon' / Photo: CHARLY TRIBALLEAU - AFP

Asian stocks rally as Trump says war to end 'very soon'

Asian stocks rallied Wednesday after US President Donald Trump said the Middle East war would be over in up to three weeks and his Iranian counterpart said Tehran had "the necessary will" to bring it to an end.

Text size:

But while the remarks from the two leaders provided hope for an end to the month-long crisis, crude prices jumped on lingering worries about the closure of the strategic Strait of Hormuz.

They also come as the economic impact of the conflict worsens, with average US gasoline prices topping $4 a gallon for the first time in four years, European inflation spiking, and governments unveiling a range of support measures.

Trump told reporters in the Oval Office the United States would be leaving Iran "very soon", perhaps within "two weeks, maybe three".

"But we're finishing the job," he insisted.

"We want to knock out every single thing they have," Trump said, before adding that "it's possible that we'll make a deal before that."

The White House also said he would address the nation at 0100 GMT Thursday "to provide an important update on Iran".

Earlier, Iranian leader Masoud Pezeshkian told the head of the European Council the country had "the necessary will to end this conflict, provided that essential conditions are met -- especially the guarantees required to prevent repetition of the aggression".

Wall Street surged, with the Nasdaq up 3.8 percent and the S&P 500 adding almost three percent.

In Asia, Seoul -- the standout before the war but among the worst-hit since it started -- was up more than six percent, while Tokyo and Taipei gained at least four percent.

Hong Kong, Shanghai, Sydney, Singapore, Manila and Jakarta were also sharply higher.

Traders appeared to brush off Prime Minister Benjamin Netanyahu's comments that Israel would press ahead with its campaign and that "we will continue to crush the terror regime".

However, Trump also said US forces would not work to unblock the Strait of Hormuz, through which a fifth of global oil and gas passes, and said it was up to other countries to do so.

"What happens with the strait we're not going to have anything to do with," he said.

In a Truth Social post earlier Tuesday, Trump lashed out at NATO allies and other countries that have refused to help the United States secure the waterway.

"The U.S.A. won't be there to help you anymore, just like you weren't there for us," he wrote. "Iran has been, essentially, decimated. The hard part is done. Go get your own oil!"

The remarks came after he said Monday he was willing to end the war even if the strait remained closed.

Trump has zigzagged on whether Washington plans to escalate the conflict -- possibly by deploying American ground forces -- or try to end it through negotiations.

Still, City Index's Fiona Cincotta warned in a commentary: "Even if outright military tensions ease, the economic damage from elevated oil prices may already be feeding through.

"With oil still above $100 a barrel, higher energy costs are likely to tighten financial conditions, raise inflation pressures, and weigh on growth."

She added that "diplomatic signals remain mixed, and as long as uncertainty persists and shipping disruptions remain in place, oil prices are likely to stay elevated".

Both main crude contracts rose more than one percent Wednesday, a day after Brent dived more than three percent and West Texas Intermediate shed 1.5 percent.

That came as more US troops continued to arrive in the region, and after the Wall Street Journal cited Arab officials as saying the United Arab Emirates was preparing to help Washington open the Strait by force, which would make it the first Gulf nation to join the battle.

The report said the UAE, which has been targeted by Iran during the war, was lobbying for a United Nations Security Council resolution to authorise such action.

The head of maritime analyst group Kpler told AFP Asia faced the gravest fallout from the war.

"We think Asia will, for now, be the ones suffering the most," president Jean Maynier said.

- Key figures at around 0230 GMT -

West Texas Intermediate: UP 1.3 percent at $102.73 a barrel

Brent North Sea Crude: UP 1.5 percent at $105.50 a barrel

Tokyo - Nikkei 225: UP 4.0 percent at 53,128.33 (break)

Hong Kong - Hang Seng Index: UP 2.0 percent at 25,278.50

Shanghai - Composite: UP 1.4 percent at 3,947.40

Euro/dollar: UP at $1.1566 from $1.1551 on Tuesday

Pound/dollar: UP at $1.3239 from $1.3236

Dollar/yen: DOWN at 158.70 from 158.77 yen

Euro/pound: UP at 87.38 pence from 87.28 pence

New York - Dow: UP 2.5 percent at 46,341.51 (close)

London - FTSE 100: UP 0.5 percent at 10,176.45 (close)

(T.Burkhard--BBZ)