Overnight headlines 24th March 2026

🌏 Asian Markets — Overnight Snapshot

The dominant theme is a sharp reversal from Monday’s sell-off, driven by signs of potential US-Iran de-escalation. Markets are recovering but gains have been trimmed as oil bounced back.

📊 Index Moves (Tuesday session)

∙ 🇯🇵 Nikkei 225 — +1.1% (~51,869) — boosted by softer Japan CPI data

∙ 🇰🇷 KOSPI — +1.5% (pared back from an earlier +3% surge)

∙ 🇭🇰 Hang Seng — +1.6% (~24,790)

∙ 🇨🇳 CSI 300 — +0.5%

∙ 🇦🇺 ASX 200 — +0.3%

Note: Monday was a brutal session — KOSPI fell ~6.5%, Nikkei ~3.3%, Hang Seng ~4%, Shanghai ~3.6% — all on the back of Trump’s Iran ultimatum.

📰 Major Market-Moving Headlines

1. 🛢️ Trump delays Iran strikes — markets rebound

Wall Street mounted a dramatic comeback after Trump posted that the US and Iran are having “very good and productive conversations” and he’s postponing threatened strikes on Iran’s power plants by five days. 

👉 CNBC — Asia markets live: March 24

2. 🇮🇷 Iran denies talks — oil rebounds, paring gains

Iranian state media, citing an unnamed senior security official, disputed Trump’s account, denying that any talks had taken place between Washington and Tehran.  Brent crude rebounded to ~$103.70/bbl after falling nearly 11% on Monday.

👉 CNBC — Asia-Pacific markets pare gains

3. 🛢️ Oil market whipsaw — Brent near $100-104

Goldman Sachs sharply raised its oil price forecasts, expecting Brent to average $110 in March-April, up from $98 previously, noting that Hormuz flows remain at only 5% of normal levels. 

👉 Al Jazeera — Asian stocks plunge on Trump’s Iran ultimatum

4. 🇯🇵 Japan CPI cools — BOJ pause likely

Japan’s consumer price index fell to 1.3% in February, the lowest since March 2022 and below the Bank of Japan’s 2% target, down from 1.5% in January. 

👉 InvestingLive — Japan inflation data, March 24

5. 📈 Fed rate cut odds collapse — hike now on the table

Odds of a Fed rate cut this year fell from 95% a month ago to around 5%, with futures now pricing in nearly 40% chances of at least one rate hike at some point in 2026. Treasury yields have surged since the war began, with the 10-year note spiking to 4.4%. 

👉 Charles Schwab Market Update

6. 🇨🇳 China more insulated — strategic reserves buffer the shock

China is heavily dependent on oil from Iran but has a substantial strategic petroleum reserve insulating it from some downside risks, and 70% of its gas needs are met from domestic sources. 

👉 Business Standard — Asia markets jump on de-escalation

The big picture: Markets remain entirely hostage to US-Iran war headlines. The Strait of Hormuz closure continues, oil is volatile in a $99-$112 range, and the Fed’s easing cycle looks increasingly at risk. Every Trump post is moving markets by 1-2% intraday.​​​​​​​​​​​​​​​​