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Asian stock markets traded higher, tracking gains on Wall Street, as optimism grew over possible US-Iran talks to ease West Asia tensions. Key indices in Japan, South Korea, China and Hong Kong posted gains, reflecting improved investor sentiment. Oil prices declined after recent spikes, with Brent crude falling below USD 100 per barrel amid hopes of reduced supply risks. However, disruptions in the Strait of Hormuz continue to raise concerns around energy costs and inflation. Gold and silver prices edged higher, while the US dollar weakened slightly. Overall, markets remain sensitive to geopolitical developments and global economic signals.
Asian stock markets traded higher on Tuesday, tracking gains on Wall Street, while oil prices declined as expectations grew around a possible second round of talks between the United States and Iran to ease tensions in West Asia. Advertisement
Japan's Nikkei 225 rose 2.4 per cent to 57,842.72, while South Korea's Kospi gained 3.4 per cent to 6,004.30. In China, the Shanghai Composite advanced 0.6 per cent to 4,010.45, and Hong Kong's Hang Seng index edged up 0.4 per cent to 25,759.75.
Australia's S&P/ASX 200 increased 0.3 per cent, and Taiwan's Taiex climbed 2.2 per cent.
Market sentiment remained supported by hopes of de-escalation in the ongoing Iran conflict, now in its seventh week. Reports suggest that the US and Iran may hold another round of talks before a temporary ceasefire expires next week. The US has also intensified pressure by initiating a blockade of Iranian ports, even as diplomatic engagement remains under consideration.
Oil prices declined after recent gains linked to supply concerns. Brent crude fell 1.3 per cent to USD 98.12 per barrel, after briefly touching nearly USD 104 earlier. US benchmark crude dropped 2.2 per cent to USD 96.92 per barrel.
The ongoing disruptions in the Strait of Hormuz, a key global oil transit route, continue to affect energy markets. The situation has led to higher fuel costs and raised concerns over inflation and economic growth across regions.
On Wall Street, US markets closed higher on Monday. The S&P 500 rose 1 per cent to 6,886.24, the Dow Jones Industrial Average gained 0.6 per cent to 48,218.25, and the Nasdaq Composite added 1.2 per cent to 23,183.74.
In commodities, gold prices increased 0.6 per cent to USD 4,796.60 per ounce, while silver rose 1.8 per cent to USD 77.05 per ounce.
In currency markets, the US dollar weakened to 159.08 Japanese yen from 159.45 yen, while the euro strengthened slightly to USD 1.1768.
Source: PTI
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