Stock markets reacted with growth to reports of a temporary deal between the US and Iran 0 34

Asia-Pacific stock markets showed growth in trading on May 29, 2026, amid news of a possible temporary agreement between the US and Iran, CNBC reports. Investors are assessing the prospects for resolving the three-month conflict, despite recent military activity in the region.

The Japanese Nikkei 225 index gained 0.88%, the South Korean Kospi rose by 2.68%, and the Australian S&P/ASX 200 increased by 0.72%. US futures are trading around the zero mark after the main US indices hit historical highs on May 28, 2026. The S&P 500 index rose by 0.58% to 7563.63 points, while the Nasdaq Composite climbed by 0.91% to 26917.47 points, thanks to a rally in the technology sector.

The driver of growth for technology companies was strong financial results from Snowflake, whose shares soared by 36.5%. The cloud solutions provider also secured a five-year contract worth $6 billion with Amazon Web Services. Meanwhile, the White House confirmed the day before that Washington and Tehran had "largely agreed" on the terms of a temporary ceasefire, despite missile launches towards Kuwait and the deployment of drones in the Strait of Hormuz.