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Asian stocks mirrored the Wall Street rally on Wednesday after U.S. President Donald Trump reiterated the previous day that the Iran conflict would end soon, specifically within up to three weeks.
Oil prices, which have been raising global inflation concerns and weighing on equities and precious metals, remain above $100, with the international benchmark Brent at $104.6 and WTI crude at $102.6 per barrel as of 5.30 a.m. GMT.
Speaking in the Oval Office on Tuesday, U.S. President Donald Trump said that the Iran conflict could end either by achieving Washington's objectives or by a potential agreement reached in the meantime.
The White House later announced that Trump is scheduled to address the nation at 0100 GMT on Thursday with what it described as an important update on Iran.
Following these remarks, all major U.S. indices surged, with the tech-weighted Nasdaq up 3.8%.
Among major markets, tech-weighted Japan’s Nikkei 225 jumped 4.5%, and South Korea’s Kospi soared around 8% in the Wednesday session, as fears of energy shocks relatively subsided in both countries, which are heavily dependent on Middle Eastern oil.
Hong Kong’s Hang Seng rose 2.2%, while China’s Shanghai Composite increased by 1.4%.
Pan-European Stoxx 50 futures were also up around 1.9%.
Precious metals also soared, with gold rebounding to the $4,700 level per ounce after two weeks. Silver gained to $75 per ounce before sliding back to $74, while palladium and platinum also rose to $1,450 and $1,950 per ounce, respectively.
In cryptocurrencies, Bitcoin rose 1.3% to $68,500, while Ethereum surged 2.9% to $2,123, and the total market capitalization expanded 1.3% to $2.36 trillion.
Earlier on Tuesday, Iranian President Masoud Pezeshkian said Iran was willing to end the conflict, stating that the country had “the necessary will to end this conflict,” while adding that doing so would require certain conditions, particularly guarantees to prevent further aggression.
Trump also said U.S. forces would not work to unblock the Strait of Hormuz, a key shipping route through which about one-fifth of global oil and gas passes, adding that responsibility would fall to other countries. "What happens with the strait we're not going to have anything to do with?" he said.
In a post on Truth Social the same day, Trump criticized NATO allies and other countries that have not supported U.S. efforts to 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!"
At the same time, Washington has expanded its military presence across the region, deploying additional forces and naval assets as the conflict enters a new phase.
A third aircraft carrier, the USS George H.W. Bush, is being sent to the Middle East, joining the USS Abraham Lincoln in the Arabian Sea and the USS Gerald R. Ford, which had been operating in the Mediterranean, the U.S. media reported.
The buildup also includes thousands of additional troops, with elements of the 82nd Airborne Division and around 5,000 Marines either deployed or en route, alongside roughly 1,500 paratroopers sent in recent days.
U.S. officials have said the deployments are aimed at sustaining operations and preparing for possible next steps, including securing key infrastructure and maritime routes, while continuing to pursue a diplomatic outcome in parallel.
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