As optimism fades, Asian stock markets give back their gains.

Asian markets opened very strongly and actively, especially Japan and South Korea. However, some Asian markets have now given back some of their gains. All of this points to the typical volatility triggered by the Iran-Iraq conflict. Initially, especially on Wednesday, we saw many investors optimistic about the conflict—the ceasefire was maintained, and there seemed to be a strong desire to end the war. Investors often make decisions based on what will happen in the future, hence we saw those stock markets rise to record highs. Now, especially with the attacks continuing, no plans for peace talks, and no clear path to truly ending the conflict—some caution has returned, so we are seeing these stock markets fall back to lower levels. (Jinshi)