Just In! Surge, Circuit Breaker, Asia‑Pacific Markets Stage Major Rally As Trump Announces Sanctions Will Be Lifted

Financial market sentiment received a marked lift after U.S. President Donald Trump declared that hostilities were essentially over. In early trading, equity markets in Japan and South Korea opened sharply higher, with major indices advancing across the board. South Korea’s KOSPI Composite Index at one point surged more than 5%, while Japan’s Nikkei 225 rose over 3% intraday. The Korea Exchange activated a circuit‑breaker mechanism after KOSPI 200 futures jumped 5%, suspending program trading for five minutes. Overnight, U.S. equities closed higher, led by a 1.38% gain in the Nasdaq and broad strength among technology stocks.

Xinhua reported that on March 9 President Trump announced at a press conference his intention to lift certain oil‑related sanctions to help stabilize crude prices. He did not provide detailed specifics, though the U.S. had already issued a 30‑day temporary waiver last week permitting Russian oil stranded at sea to be sold to India. Trump added that the conflict with Iran would end “soon,” while cautioning it would not conclude within the week. He also indicated that, if warranted, the U.S. Navy would escort shipping through the Strait of Hormuz.

Iranian authorities issued stern warnings in response. On March 9 Ali Larijani, Secretary of Iran’s Supreme National Security Council, stated that security in the Strait of Hormuz could not be restored while the United States and Israel continued military strikes against Iran. Larijani criticized remarks by French President Emmanuel Macron regarding naval operations, asserting that any prospect of security in the strait was unlikely amid the fires ignited by U.S. and Israeli actions. Macron had earlier said France and its allies were prepared to undertake a defensive naval operation to restore normal navigation, potentially extending deployments to the Strait of Hormuz to protect regional shipping and European interests.

The Islamic Revolutionary Guard Corps of Iran reported continued retaliatory strikes, announcing on March 9 the launch of rounds 31 and 32 of the “True Promise‑4” operations within a two‑hour span and the use of multiple heavy missiles. Israeli authorities recorded ten Iranian attack incidents that day. Iranian statements claimed the downing of more than 82 U.S. and Israeli drones and four F‑15 fighter jets, the destruction of multiple radar installations, the interception of a U.S. JASSM cruise missile, and the “destruction” of a U.S. helicopter base in Kuwait.

Market commentators observed that geopolitical shocks typically produce sharp short‑term volatility but seldom alter long‑term corporate earnings trajectories. Stuart Katz, Chief Investment Officer at Robertson Stephens, noted that major geopolitical events historically have driven market declines in the 5%–10% range from peak to trough, yet markets generally enter an upward phase within 12 months. Anshul Sharma, Chief Investment Officer at Savvy Wealth, added that such periods of uncertainty often present buying opportunities because price declines are frequently unrelated to companies’ long‑term growth fundamentals.