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Oil prices fell more than 5 per cent and Asian shares gained on Wednesday over possibilities of a de-escalation of the Iran war and negotiations between the United States and Iran. Tokyo's Nikkei 225 was up 2.8 per cent to 53,721.30 in early trading. South Korea's Kospi gained 3.1 per cent to 5,728.22. Hong Kong's Hang Seng rose 1.2 per cent to 25,374.95, while the Shanghai Composite index was 0.9 per cent higher at 3,914.09. Australia's S&P/ASX 200 climbed 2.2 per cent. Taiwan's Taiex was up 3 per cent. The administration of US President Donald Trump is said to have offered a 15-point ceasefire plan to Iran. Trump's claims of progress being made from talks with Iran this week and his postponement on Monday of a deadline to "obliterate" Iran's power plants over the reopening of the Strait of Hormuz have also fuelled optimism that an end to the Iran war could come soon. With the Strait of Hormuz being a key waterway for crude oil and liquefied natural gas transport, oil and gas ..
Asian benchmarks mostly rebounded Tuesday, echoing cautious relief that swept through Wall Street after President Donald Trump said the United States has talked with Iran about a possible end to their war. Japan's benchmark Nikkei 225 added 1.1 per cent in morning trading to 52,093.02, recovering some of the losses it suffered the previous day. Toyota Motor Corp's stock price gained 1.1 per cent in morning trading after it announced overnight that it was investing USD 1 billion in its Kentucky and Indiana auto plants. That's part of a plan to invest up to USD 10 billion in the US over the next five years that the Japanese automaker announced in November. Japanese manufacturers have been eager to show their contribution to American jobs and economic growth. Australia's S&P/ASX 200 rose 0.5 per cent to 8,404.00. South Korea's Kospi jumped 2.2 per cent to 5,526.24. Global markets have been on a roller coaster ride over worries about the war in Iran, which began in late February, ...
Asian shares advanced Tuesday as US stocks held steady while investors awaited signals on when the war with Iran may end. US futures and oil prices edged higher. Tokyo's Nikkei 225 gained 2.1% to 55,387.75 and South Korea's Kospi surged 3.5% to 5,724.30. In Hong Kong, the Hang Seng gained 0.3% to 26,039.23, while the Shanghai Composite index inched up 0.1% to 4,127.34. Australia's S&P/ASX 200 rose 0.5% to $8,738.50. Taiwan's benchmark climbed 3.9%. On Tuesday, the S&P 500 dipped 0.2% to 6,781.48, a day after its latest wild swings caused by extreme moves in the oil market. The Dow Jones Industrial Average fell 34 points, or 0.1% to 47,706.51 and the Nasdaq composite edged higher by less than 0.1% to 22,697.10. Oil prices have remained sharply below their peaks hit on Monday. Such spikes have been rocking financial markets worldwide because of worries that the war could block the global flow of oil and natural gas for a long time. Early Wednesday, the price for a barrel of ...
Asian shares mostly declined and oil prices surged higher Tuesday as investors eyed risks to the region's energy supply because of the Iran war. Shares in South Korea sank 4.8% as markets reopened after a holiday on Monday, to 5,946.06. Benchmark US crude rose 77 cents to $72.00 a barrel. Brent crude, the international standard, added $1.10 to $78.84 a barrel. They jumped Monday then fell back although still at higher levels than before due to worries that the war could clog the global flow of crude. Japan's benchmark Nikkei 225 sank 2.1% to 56,853.48. Like other resource-poor countries in the region, Japan could be especially hit by the lack of access to the Strait of Hormuz since much of its oil and natural gas is shipped through there. However, analysts say Japan has a sizable stockpile lasting more than 200 days and so the threat is not immediate. Japanese energy stocks plunged, with Eneos Corp. down nearly 6% and Idemitsu Kosan down nearly 4%. Defense-related issues, which ha
Asian shares mostly rose in Wednesday morning trading, with Japan's benchmark hitting a record high, as investors were cheered by an overnight Wall Street rally that seemed to reflect optimism about the artificial-intelligence boom. Japan's benchmark surged 1.3% to 58,081.62. That came despite China's move the previous day to restrict exports to 40 Japanese companies and organisations it says are contributing to Japan's "remilitarisation". The reaction was varied with the prices of some listed companies rising, like Subaru Corp and Mitsubishi Materials Corp, while others slipped, including Eneos Corp and Sumitomo Heavy Industries. Analysts said the declining yen worked to boost export shares, such as Honda Motor Co and Panasonic Corp. The US dollar slipped to 155.78 Japanese yen from 155.83 yen. The dollar traded close to 160 yen levels several months ago. The euro cost $1.1784, up from $1.1779. Australia's S&P/ASX 200 jumped 1.1% to 9,122.50. South Korea's Kospi surged 1.7% to ...