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Asian shares gain, oil prices retreat after Trump extends Iran ultimatumMSCI's broadest Asia Pacific index shares outside Japan rose 1.3%, while equities in Australia were up 0.7%. Japan's Nikkei gained over 2%, reversing most of the 3.5% decline on Monday.By CNBCTV18.com March 24, 2026, 6:47:15 AM IST (Published)2 Min ReadAsian shares rallied after US President Donald Trump decided to postpone the bombing of Iran's power grid.

MSCI's broadest Asia Pacific index shares outside Japan rose 1.3%, while equities in Australia were up 0.7%. Japan's Nikkei gained over 2%, reversing most of the 3.5% decline on Monday.

US futures were little changed after ending Monday's cash session higher.

Oil prices ​meanwhile edged higher on Tuesday after sliding 10% in the previous session. Brent crude futures were up 1% at $100.94 a barrel, while US crude rose 1.9% to $89.84.

Still, movement was highly volatile as war in the Middle East dragged on and the prospect of higher-for-longer energy prices lingered.

"Markets are not out of the woods," said Chris ​Weston, head of research at Pepperstone.

"Price action could remain choppy into Friday's revised deadline... The key question is whether participants see this as ​a genuine extension that brings a deal closer, or simply a delay that prolongs uncertainty."

Yields on US Treasuries steadied on Tuesday after a ‌sharp ⁠fall overnight, in line with a decline in global bond yields as investors trimmed bets of aggressive interest rate increases by major central banks this year.

The two-year yield was little changed at 3.8498%, having fallen more than 6 basis points in the previous session. The benchmark 10-year yield was last at 4.3400%.

While traders have priced out the small chance that the US Federal Reserve could hike this year, they still expect rates ​to be left on hold.

The Bank ​of England is now seen ⁠raising rates just twice this year, compared to four previously , while market expectations for hikes from the European Central Bank have also been pared back .

In currencies, the US dollar was on the back foot after falling on Monday, as a pick up in risk sentiment reduced demand for the safe haven currency.

The euro last traded at $1.1603, having risen 0.4% overnight, while sterling held ⁠near Monday's ​two-week top and was last at $1.3420.

Against the yen , the dollar was up 0.04% at ​158.54.

Data on Tuesday showed Japan's core consumer inflation rate hit 1.6% in February to slide below the Bank of Japan's 2% target for the first time in nearly four years, ​complicating the bank's efforts to justify further interest rate hikes.

Spot gold was up 0.6% at $4,431.65 an ounce.

With inputs from Reuters

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