Asian Stocks Extend Gains as Strait of Hormuz Deal Hopes Push Oil Lower
Updated
Updated · Bloomberg · May 25
Asian Stocks Extend Gains as Strait of Hormuz Deal Hopes Push Oil Lower
5 articles · Updated · Bloomberg · May 25
Japan and Australia equity-index futures pointed higher Tuesday, with Hong Kong and South Korea set to reopen into a broader risk-on move.
US-Iran deal optimism centered on reopening the Strait of Hormuz lifted investor appetite for equities and drove oil prices lower.
US stock futures also rose after Wall Street was closed Monday, suggesting the rally was spreading beyond Asia.
The dollar held steady in early trading after weakening Monday, as markets weighed whether easing Gulf tensions could reduce pressure on energy and global growth.
If the Strait reopens, will a logistical nightmare keep global oil prices from falling as hoped?
As Iran reportedly imposes new 'security fees,' is the world trading one chokehold on the Strait for another?
Is the US-Iran deal a path to peace, or a temporary truce masking deeper unresolved conflicts?