Asian stocks rose Tuesday morning amid hopes of a new U.S.-Iran ceasefire, as mediators worked Monday to encourage the two sides to agree. Qatar floated a 10‑day ceasefire and a halt to shipping restrictions in the Strait to cool tensions.

The mediators noted uncertainty about acceptance of an end to hostilities after the preliminary peace deal collapsed earlier in the month. U.S. Central Command said on X that the U.S. military completed a new round of strikes against Iran at the direction of President Trump, and Iran has retaliated with strikes against Kuwait and Bahrain.

Markets remain priced for contained geopolitical risks, but the margin for error is shrinking, said strategists at OCBC Group Research. They project a managed escalation in the Middle East. Stock indices: South Korea’s Kospi gained 3.1%, Taiwan’s Taiex rose 2.5%, Singapore’s FTSE Straits Times Index up 0.3%, Japan’s Nikkei up 2.2% after a three‑day holiday, while Australia’s S&P/ASX 200 edged 0.2% lower.

Crude oil prices fell as the ceasefire prospect eased supply fears. Front‑month WTI fell 0.3% to $82.98, Brent dropped 0.7% to $88.59, ICE data showed.