Asia markets fall amid fresh ceasefire dispute

April 09, 2026 (MLN): Asia markets closed lower on Thursday as renewed tensions between the United States and Iran rattled investor sentiment, raising concerns over the stability of a recently announced ceasefire agreement.

The downturn followed accusations from Mohammed Bagher Ghalibaf, who alleged that Washington had violated the terms of a two-week ceasefire deal.

The agreement had been declared a day earlier by U.S. President Donald Trump, aimed at pausing hostilities after more than a month of escalating conflict.

In a statement shared on Truth Social, Trump confirmed a temporary halt in military operations against Iran, noting that Tehran had presented a 10-point proposal that could serve as a foundation for future negotiations.

The ceasefire was conditional upon Iran reopening the strategically vital Strait of Hormuz, a critical route for global energy supplies.

Iran, however, maintained that it would suspend its “defensive operations” only if attacks on its territory ceased entirely..

Despite these developments, Ghalibaf accused the U.S. of breaching the agreement, citing restrictions on Iran’s uranium enrichment rights, continued Israeli military actions in Lebanon, and alleged violations of Iranian airspace by drones, according to CNBC.

Investor uncertainty weighed heavily on regional equities. South Korea’s benchmark Kospi dropped 1.53%, while the Kosdaq index declined 1.38%. In Japan, the Nikkei 225 slipped 0.77% and the broader Topix index lost 0.78%.

Japanese Finance Minister Satsuki Katayama cautioned about increasing cross-market volatility, warning that global interest rate movements could transmit more rapidly across economies than previously expected.

Elsewhere, Australia’s S&P/ASX 200 remained largely flat, while China’s CSI 300 index fell 0.64%.

Hong Kong’s Hang Seng Index dropped 0.30%, and India’s Nifty 50 edged down 0.3%, as concerns over inflation and economic growth intensified following the Iran conflict.

Crude oil prices continued their upward trajectory amid ongoing geopolitical uncertainty. U.S. benchmark West Texas Intermediate (WTI) crude futures climbed 2.85% to $97.10 per barrel, while international benchmark Brent crude rose 1.97% to $96.62 per barrel.

U.S. stock futures were slightly lower in early trading, with S&P 500 and Nasdaq 100 futures slipping 0.1%, while Dow Jones Industrial Average futures declined by 32 points.

The muted movement followed a strong rally on Wall Street overnight, where markets surged after the declaration of a temporary pause in hostilities.

The Dow Jones Industrial Average jumped 1,325 points, marking its strongest performance since April 2025. The S&P 500 and Nasdaq Composite also posted gains of 2.51% and 2.80%, respectively.

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