
President Donald Trump’s claim that the U.S.–Israel‑Iran war will end soon helped reverse a sharp oil rally, pulling Brent crude down more than 7% to around $92 a barrel. Iran vowed to halt all Gulf oil exports, while attacks on shipping and depots kept the Strait of Hormuz tense. The comment sparked a broad rally in Asian equities, with South Korea’s Kospi up over 5% and Japan’s Nikkei gaining nearly 3%. Nonetheless, market uncertainty remains high as geopolitical risks persist.

Chinese local governments announced a suite of stimulus measures ahead of the longest Lunar New Year break, extending the holiday to nine days. The central government allocated 2.05 billion yuan in vouchers, red‑envelopes and subsidies to directly benefit consumers. January's consumer...