A pedestrian passes by an electronic quote board displaying the Nikkei Stock Average at the Tokyo Stock Exchange on March 23, 2026 in Tokyo.
Kazuhiro Nogi | AFP | Getty Images
Asia-Pacific markets rose on Tuesday, tracking Wall Street’s gains as traders continued to assess developments related to the Iran war.
US President Donald Trump has threatened to target Iran’s civilian infrastructure if a peace deal is not reached within 24 hours, while suggesting that Iranian leaders are in serious negotiations.
President Trump has called on Iran to open the Strait of Hormuz by 8pm on Tuesday so traffic can resume on the vital route for the world’s energy supplies, warning that the US will destroy all bridges and power plants within four hours if the deadline is not met.
The United States and Iran are considering a framework plan to end the five-week conflict, with Iran pushing back against President Trump’s push to quickly reopen the Strait of Hormuz under a temporary ceasefire and repeating calls for a permanent end to the war.
According to Axios, Iran rejected the US ceasefire proposal and set its own 10-point agenda, including a cessation of hostilities in the region, a protocol for safe passage through the Strait of Hormuz, sanctions relief, and reconstruction.
President Trump responded to the proposal by saying, “They… made an important proposal. It’s not enough, but they took a very important step. Let’s see what happens.”
West Texas Intermediate crude oil futures were up 0.7% at $113.25 a barrel as of 7:20 p.m. ET. Brent crude oil rose about 0.68% to close at $109.77 per barrel on Monday.
australian S&P/ASX 200 The rate of increase expanded to 2.3%. Japanese Nikkei Stock Average It rose 0.26%, while the overall Topix rose 0.23%. Excellent company in Korea Kospi rose 1.5%, while the small-cap Kosdaq rose 0.85%.
Mainland China’s CSI300 index remained flat, but Hong Kong markets remained closed on Tuesday for Easter.
