Asian shares, Wall Street climb as Israel-Hamas truce calms markets

Asian shares advanced on Thursday, buoyed by a breakthrough in the Israel-Hamas conflict that dampened regional risks and pushed oil prices lower.

The agreement for a temporary pause in fighting, which will allow for a hostage and prisoner exchange, marked the most significant progress in the two-year war. The news initially pulled oil prices down, though they later steadied. U.S. benchmark crude traded near $62.57 a barrel.

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Major regional indexes mostly climbed. Japan’s Nikkei 225 led gains, jumping 1.8%, driven by an 11% surge in SoftBank after a major acquisition. Markets in mainland China rose over 1% as they reopened after a holiday.

The positive sentiment followed another record-setting session on Wall Street, where the S&P 500 and Nasdaq both closed at new highs. The rally was fueled by ongoing enthusiasm for artificial intelligence, with chipmakers like Advanced Micro Devices and Dell Technologies posting significant gains.