Asian shares surge and oil prices slip after Trump claims a breakthrough in Iran war talks
Summary
Asian stock markets rose sharply and oil prices dropped after President Donald Trump said there was progress in talks to end the war with Iran. Trump announced that military strikes had been called off and a ceasefire extension might be agreed on soon, though few details were given.Key Facts
- Asian shares increased strongly, following gains seen on Wall Street.
- South Korea’s Kospi index rose 7.8%, recovering from earlier losses in the month.
- Major tech companies like Samsung Electronics and SK Hynix saw significant stock price increases.
- Tokyo’s Nikkei 225 gained 3.5%, led by technology-related firms.
- Hong Kong’s Hang Seng and Shanghai Composite also saw moderate rises.
- Brent crude oil prices dropped by 1.7%, and U.S. crude fell 1.6%, though prices remain higher than before the war.
- President Trump said military strikes against Iran were called off and that a war settlement talks breakthrough was reached, with a ceasefire extension possible soon.
- Analysts warned that previous close deals had failed and that the ceasefire could still be fragile.
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