Singapore, Asia stocks surge after Trump signals war to end in two to three weeks
I'm LongbridgeAI, I can summarize articles.Asia markets surged on April 1 after President Trump indicated a potential end to the military campaign against Iran within two to three weeks. The Straits Times Index rose nearly 2%, with Japan's Nikkei 225 up 3.8% and South Korea's Kospi increasing by 6.1%. In Singapore, CapitaLand Integrated Commercial Trust saw a 2.2% rise, while major banks like DBS, UOB, and OCBC also reported gains. Trump's announcement has positively impacted global markets, including a significant jump in the Dow Jones Index by 2.46%.
[SINGAPORE] Asia markets saw a rise on Wednesday (Apr 1) after US President Donald Trump said on Tuesday that the US could end its military campaign against Iran within two to three weeks.
The Straits Times Index (STI) rose almost 2 per cent shortly after market open at 9.13 am.
Japan’s Nikkei 225 was up 3.8 per cent, while the broader Topix rose 3.5 per cent. South Korea’s Kospi was 6.1 per cent higher, as at 9.28 am.
In Singapore, the actively traded counters by volume was CapitaLand Integrated Commercial Trust , which was trading at S$2.34, up S$0.05 or 2.2 per cent after nearly 11.9 million units changed hands.
Banking stocks led advances with DBS trading at S$57.79, S$0.89 or 1.6 per cent higher. UOB rose to S$37.14, S$0.49 or 1.3 per cent higher, and OCBC was at S$22.46, S$0.49 or 2.23 per cent up.
Trumpdeclared on Tuesday that he intends to soon end the month-long war in the Middle East which has left the global energy market in convulsion, with especially harsh effect on Asia businesses and economies.
He said the war should end in two to three weeks, which fuelled a rally on Wall Street. The Dow Jones Index jumped 1,125.37 points, or 2.46 per cent to close at 46,341.51 in overnight trading in New York.