Stocks rose and oil fell on Wednesday on reports the U.S. is seeking a month-long ceasefire in its war on Iran and had sent a 15-point plan to Iran for discussion, raising hopes for a breakthrough that could help restore oil exports from the Gulf.
The Iran war is already taking a toll on major economies around the world, according to business surveys on Tuesday (Mar 24) which showed how a surge in energy prices and rising uncertainty were dampening activity and pushing inflation expectations higher.
Chinese automaker BYD more than tripled its European Union car sales in the first two months of 2026, industry data showed on Tuesday, as battery-electric vehicles captured 18.8% of the market even as overall registrations edged lower.
Iran launched multiple waves of missiles at Israel, the Israeli military said, after US President Donald Trump postponed the bombing of the Islamic Republic's power plants and energy infrastructure because of what he described as productive talks with Iranian officials.
Thailand's February customs-cleared exports rose 9.9% from a year earlier, driven by electronics and electrical equipment, the Commerce Ministry said on Tuesday, slower than January and well below analyst expectations.
Most emerging Asian equities rose back to early session highs as investors traded cautiously while weighing the economic fallout from the Middle East conflict after Iran denied talks with the US to end the war.