Ceasefire expectations boost Asian stock markets, with the MSCI Asia-Pacific Index recording its largest single-day gain in nearly a year.

Asian stock markets have achieved their largest increase in nearly a year, following the rise in the US stock market, as market optimism grows over the potential end of the Iran war in the near future. The MSCI Asia Pacific index rose by 5.1% at one point, marking the largest single-day increase since April 10th of last year, with South Korea and Japan leading the gains. Tech giants Taiwan Semiconductor Manufacturing Co., Ltd. Sponsored ADR (TSM.US), Samsung Electronics, and SK Hynix made significant contributions to this increase. With Trump stating that he foresees the US ending its war with Iran within two to three weeks and hinting at the possibility of reaching an agreement with Iran during this period, market sentiment has improved. Tim Waterer, Chief Market Analyst at KCM Trade, stated: "Investors are pleased to see the possibility of conflict ending in weeks rather than months, putting the market in a buying mode. However, with oil prices still hovering at three-digit highs and uncertainty in the Strait of Hormuz, the market outlook remains uncertain." Despite this, the MSCI Asia Pacific index is still down about 9% from its peak in February. The market remains cautious, with questions lingering about the speed of the decline in oil prices and the credibility of Trump's assurances.