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Brent crude oil dropped 1.6% while major stock indices in Japan, South Korea, and Taiwan gained after the US and Iran signed a provisional peace agreement. The deal aims to end nearly four months of disruption to global energy supply chains, though shipping firms remain cautious about the safety of transiting the Strait of Hormuz.
U.S. stocks rallied on Monday after a preliminary U.S.-Iran deal sparked hopes for restored stability in the energy supply chain. The S&P 500 rose 1.7%, the Nasdaq surged 3.1%, and the Dow closed at a record high. Brent crude fell nearly 5% to its lowest since early in the conflict.
Asian stock markets surged after the US and Iran announced a deal to end the war and reopen the Strait of Hormuz, sending oil prices down more than 4 percent. Japanese and South Korean benchmarks led gains, with US futures also rising. The agreement, confirmed by both sides, is expected to ease global inflation fears ahead of the Fed's rate decision.
Japan's Nikkei stock index broke 65,000 points for the first time on Monday, driven by hopes that the US-Iran conflict may end soon. The milestone reflects investor optimism over a potential ceasefire or diplomatic resolution, which could stabilize energy markets and geopolitics. Analysts say the rally could continue if Middle East peace signals persist.
Iran's stock market has reopened amid 70% inflation, putting heavy pressure on investors and raising concerns among economists about the economic outlook. Investors struggle to find returns as the currency depreciates and confidence in traditional investment channels erodes. Analysts warn this could push the market into higher risk territory.
The Nikkei index surged more than 3% on May 2, its strongest rally in months, as optimism grew over a possible ceasefire in the Middle East. The uptick, fueled by peace talk signals, spread across Asian markets and lifted export and energy shares.
Japan's Nikkei index surged more than 5% on May 2, hitting a new intraday high on hopes of a US-Iran deal to end the Middle East conflict. Crude oil futures also fell, boosting investor sentiment.
