SINGAPORE: Donald Trump’s announcement of a two-week ceasefire between the United States and Iran brings welcome relief to Asian markets in the short term, according to strategists.
But the sustainability of the region’s equity rally depends on how quickly passage through the Strait of Hormuz resumes, they warned.
Elevated oil prices remain a downside risk for Asian economies, many of which rely on Middle Eastern crude imports.
Fabien Yip, market analyst at IG International said: “There’s a lot of optimism, for sure, but we’re not back where we started at the end of February as oil prices remain high.
...