The Australian Securities Exchange (ASX) is poised for increases following optimistic comments from US Treasury Secretary Scott Bessent regarding a potential agreement to reopen the strategically vital Strait of Hormuz. Bessent suggested a deal could be reached as soon as "tomorrow," boosting market confidence. The Strait of Hormuz is a major shipping lane, and disruptions have raised concerns about global oil supplies and economic stability. Investors are reacting favorably to the prospect of de-escalation in tensions. This news follows a period of heightened anxiety surrounding potential conflict in the region. The anticipated reopening of the Strait is expected to positively influence market sentiment and trading activity in Australia.