06:47 AM EDT, 06/24/2025 (MT Newswires) -- Asian stock markets rallied Tuesday on media reports that Israel and Iran have accepted a US-brokered mutual ceasefire in their 12-day conflict. Oil prices cooled.

Hong Kong, Shanghai, and Tokyo finished in the green, as did other regional exchanges.

In Japan, the Nikkei 225 finished up 1.1% after reports of the truce, and prospects that the vital Strait of Hormuz would remain open for shipping.

The benchmark Nikkei 225 rose 436.47 to 38,790.56, as gaining issues outnumbered losers 148 to 73.

Leading the upside was semiconductor manufacturing equipment maker Lasertec, up 13.3%, while oil driller Inpex declined 6.8%.

In Hong Kong, the Hang Seng Index closed up 2.1% on the Middle East outlook and declining oil prices.

The broad gauge Hang Seng rose 487.94 to 24,177.07, as gaining issues outnumbered losers 75 to seven. The Hang Seng TECH Index gained 2.1% on the day, while the Mainland Properties Index rose 0.7%.

Leading the upside was New Oriental Education & Technology, gaining 8.7%, while shipping line Orient Overseas International declined 1.8%.

On the mainland, the Shanghai Composite rose 1.1% to 3,420.57.

On the other regional exchanges, the S. Korean KOSPI rose 3%; the Taiwan TWSE rose 2.1%; the Australian ASX 200 advanced 1%; the Singapore Straits Times Index rose 0.7%, and the Thai Set gained 3.5%. In late trading in Mumbai, the Sensex was up 0.2%.