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Asian Stocks Slip as US-Iran Ceasefire Hopes Lift Oil, Dollar Strength Persists 
Asian stock markets posted strong gains on Wednesday, driven by a sharp decline in oil prices and growing optimism over a potential diplomatic resolution in the Middle East. The broad-based rally swept across the region, with investors also taking cues from a recovery in U.S. futures after Wall Street closed lower overnight.
Japan's Nikkei 225 led regional gains, surging nearly 3%, while the TOPIX index climbed 2.3%. South Korea's KOSPI rose 1.7%, and India's Nifty 50 gained 1.3%. Australia's S&P/ASX 200 jumped 2%, while China's Shanghai Composite and CSI 300 each advanced around 1%. Hong Kong's Hang Seng edged up 0.2%, and Singapore's Straits Times Index added 0.4%.
The market turnaround was largely fueled by reports that the United States had presented Iran with a 15-point peace proposal aimed at ending the ongoing conflict. U.S. President Donald Trump confirmed that Washington was actively engaged in negotiations, describing the discussions as "productive" and noting that Iran appeared willing to reach a deal. Iranian officials, however, denied that any formal talks were underway, leaving some uncertainty in the air.
Brent crude oil fell more than 6%, dropping below $100 per barrel as prospects of de-escalation eased fears of supply disruptions from the Middle East. Lower oil prices are particularly beneficial for energy-importing Asian economies like Japan and India, as they help reduce inflation risks and lessen the likelihood of aggressive interest rate hikes.
In Australia, February's headline inflation came in at 3.7% year-on-year, a slight dip from 3.8% the previous month, though underlying price pressures remained persistent. The data kept markets divided on whether the Reserve Bank of Australia would hold rates steady or tighten further if inflation stays elevated.
