Asian shares mostly higher on Iran ceasefire deal hopes

Asian shares were mostly higher Friday on expectations of a U.S.-Iran ceasefire extension deal. Tokyo's Nikkei 225 jumped 1.8% to 65,814.96, South Korea's Kospi gained 2.3% to 8,369.81, Hong Kong's Hang Seng added 0.4% to 25,098.68, and Australia's S&P/ASX 200 was up 1% at 8,681.80. On Thursday, U.S. and Iranian negotiators reached a tentative agreement to extend their ceasefire and hold new talks on Iran's nuclear program, pending President Donald Trump's approval. Iran had not yet publicly confirmed the deal.

Oil prices slipped on optimism over de-escalation, with Brent crude falling 0.8% to $91.97 a barrel and U.S. crude losing 1.2% to $87.85 per barrel, though prices remain above pre-war levels. The tentative accord clarifies that Iran cannot impose tolls on ships transiting the Strait of Hormuz, while the U.S. would gradually lift its sea blockade on Iranian ports. However, analysts warned that a recovery in oil supplies would likely be gradual, as shipowners may initially be reluctant to send vessels into the Persian Gulf over ceasefire failure concerns.