finance
Asian Stocks Rise on Hopes for End to US-Iran Conflict
Tokyo's Nikkei index rose 5.7 percent Thursday to lead gains across Asian markets. The advance followed comments from President Donald Trump that an agreement to end the conflict with Iran appeared possible. Oil prices remained near levels after falling about 10 percent earlier in the week on expectations the Strait of Hormuz would reopen.
Substrate placeholder — needs reviewAudio version
Tap play to generate a narrated version.
Developing·Limited corroboration so far. This page will refresh as more sources emerge.
Tokyo's Nikkei index rose 5.7 percent to 62,915.87 on Thursday to lead gains across Asian stock markets. The advance came as investors responded to growing optimism that the conflict between the United States and Iran is nearing an end and that the Strait of Hormuz will reopen to shipping.
Stocks have risen and oil prices have fallen this week on expectations that Washington and Tehran will reach an agreement. The Strait of Hormuz has been effectively closed since the start of March, limiting transport of about one-fifth of global crude oil shipments.
Risk sentiment increased after President Donald Trump said an agreement was near. The day before, he had paused efforts to help stranded ships pass through the strait after those operations drew Iranian attacks that threatened a fragile ceasefire. news outlet reported that both sides were close to agreement on a one-page memorandum of understanding to end the war, open the strait and set a framework for more detailed nuclear talks.
Iran has yet to respond to the U.S. offer. A foreign ministry spokesperson told local media it was still under review. A parliament speaker warned against any attempt to force surrender. Pakistani Prime Minister Shehbaz Sharif, who took part in initial talks last month in Islamabad, said he was very hopeful.
Oil prices were largely unchanged on Thursday after declining around 10 percent over the previous two days. West Texas Intermediate crude stood at $95.08 a barrel while Brent North Sea Crude was at $101.32 a barrel.
Investors tracked another record day on Wall Street and directed fresh buying into technology shares tied to artificial intelligence. Companies including Microsoft, Apple and Alphabet reported standout earnings that contributed to the positive sentiment.
