Asia stock markets rise on Tuesday supported by tentative ceasefire talks between Iran and Israel announced by US President Donald Trump, to end the twelve-day conflict, set to begin late Monday, with Iran expected to cease attacks first. However, caution quickly emerged as Iran's foreign minister denied a US-brokered deal, insisting Iran would only halt attacks if Israel stopped its airstrikes. Meanwhile, financial markets showed little reaction to Iran's non-fatal strike on a US base in Qatar, finding further relief in Tehran's decision to avoid targeting the strategic Strait of Hormuz. Gold fell below $3,350 per ounce on Tuesday, hovering near two-week lows. WTI crude oil futures dropped more than 1% to around $66.2 per barrel on Tuesday, hitting its lowest level in over a week. Japan ( NKY:IND ) rose 1.19% jumped 1.3% to above 38,800 while the broader Topix Index gained 1.2% to 2,794 on Tuesday, ending a three-day losing streak. The Japanese yen appreciated to around 145.5 per dollar on Tuesday, rebounding from multi-week lows. China ( SHCOMP ) rose 1.14% rose 0.8% to above 3,400 while the Shenzhen Component climbed 1.6% to 10,210 on Tuesday, extending gains from the previous session, and the offshore yuan held its recent gains to around 7.17 per dollar on Tuesday In China, the top legislature, known as the NPC Standing Committee, is meeting this week to review a draft revision to the anti-unfair competition law, aiming to curb intense online platform rivalry. Attention also turns to next month’s Politburo meeting for clues on potential economic support. Hong Kong ( HSI ) rose 2.11% to 24,091 in Tuesday morning trade, rising for the third straight session and hitting a one-week-high. India ( SENSEX ) rose 1.08% Australia ( AS51 ) rose 0.92% climb nearly 1% to 8,557 on Tuesday, snapping a five-session losing streak. The Australian dollar strengthened past $0.648 on Tuesday, extending gains from the previous session. In Australia, investor attention now turns to the May monthly CPI indicator, which is expected to ease slightly after remaining unchanged for three consecutive months. In the U.S., on Friday, all three major indexes ended higher as oil prices plunged, after Iran launched missiles at a US air base in Qatar in response to American strikes on its nuclear facilities. Investors now look ahead to Fed Chair Jerome Powell’s testimony before the US Congress on Tuesday and Wednesday, seeking greater clarity on the central bank's policy direction. U.S. stock futures climbed on Tuesday on Trump ceasefire talks: Dow +0.51% ; S&P 500 +0.59% ; Nasdaq +0.80% . Currencies: ( JPY:USD ), ( CNY:USD ), ( AUD:USD ), ( INR:USD ), ( HKD:USD ), ( NZD:USD ). More on Asia: Japan's manufacturing rebounds in June, services maintain growth amid new orders Australia's services sector expands to 3-month high; manufacturing holds steady at 51 Japan’s core inflation accelerates for the third straight month to 3.7% PBOC keeps lending rates steady during the June fixing, as expected China's rare earth magnet exports slump to five-year low in May
