[MARKET UPDATE] Asia-Pac stocks begin on the front foot as the region takes impetus from the gains from Wall St, where the Dow notched a record close amid lower oil prices and yields following Trump's strike cancellation and touted US-Iran talks

De-escalation episodes of this kind have followed a familiar sequence: a geopolitical premium built into crude, front-end yields and the dollar unwinds first, equities recover the ground lost during the escalation, and the move then fades unless follow-through materialises. The channel here is direct: lower oil removes an inflation impulse, which eases yields at the belly and front of the curve, which in turn supports duration-sensitive equities, with the Dow's record close the classic late-cycle risk-on tell. What separates durable reversals from head-fakes in past episodes is whether touted talks convert into a scheduled, structured process; announcements of intent to talk have historically been cheap to issue and cheap to retract, and premia have rebuilt quickly when talks stall. The distinction worth drawing is between the strike cancellation itself, which is a concrete de-escalation, and the mooted negotiations, which remain unverified. Follow-ons worth noting are whether the crude bid returns on any breakdown in the talks narrative, whether the White House and Tehran confirm the same account of contact, and how Gulf and Israeli officialdom respond, since third-party reaction has often been the spoiler in comparable de-escalations.