Asian Exchanges Rally After Trump Signals Iran Peace Deal Triggering Global Oil Price Decline
Asian-Pacific exchanges opened higher in early trading on Tuesday, 10 March 2026, supported by declining oil prices following signals from United States President Donald Trump that conflict with Iran may soon be resolved.
“This war is already very complete, almost entirely,” Trump wrote on X, as cited by CNBC International on Tuesday, 10 March 2026.
Global oil prices fell by more than 10 per cent after Trump indicated he would consider controlling the Strait of Hormuz. The decline came after oil prices had previously surged above $100 per barrel, equivalent to approximately 1,689,700 rupiah per barrel (at an estimated exchange rate of 16,900 rupiah per US dollar).
Brent crude oil fell nearly 10 per cent, declining $8.90 per barrel at 21:10 ET during Monday’s trading session on 9 March 2026. West Texas Intermediate crude dropped more than 9 per cent to $86.05, or approximately 1,453,728 rupiah per barrel.
“With 20 per cent of the world’s oil supply halted, the world is experiencing the largest disruption ever recorded,” said Bob McNally, president of Rapidan Energy Group.
South Korea’s Kospi index led regional gains with a surge exceeding 5 per cent in early trading. The Kosdaq index, comprising small-capitalisation stocks, jumped more than 4 per cent.
In Japan, the Nikkei 225 index rose 1.66 per cent. The Topix index recorded gains of 1.3 per cent.
Australia’s S&P/ASX 200 index strengthened 1.35 per cent. Meanwhile, Hong Kong’s Hang Seng index declined to 25,370 from its previous position near 25,408.46.
A sharp rebound was also evident in the US market on Wall Street. The S&P 500 index surged 0.83 per cent to 6,795.99.
The Dow Jones Industrial Average climbed 239.25 points or 0.5 per cent, closing at 47,740.80. The Nasdaq Composite posted gains of 1.38 per cent to reach 22,695.95.
These gains marked an impressive reversal from earlier losses recorded during the session. The Dow Jones had fallen nearly 900 points at its session low whilst the S&P 500 and Nasdaq each declined by up to 1.5 per cent.