Asian Stocks Rally as Nikkei Jumps 4.3% and Oil Sinks to 2-Month Lows
Updated
Updated · Reuters · Jun 12
Asian Stocks Rally as Nikkei Jumps 4.3% and Oil Sinks to 2-Month Lows
3 articles · Updated · Reuters · Jun 12
Summary
South Korea’s KOSPI surged 8.3%, Japan’s Nikkei gained 4.3% and Australian shares rose 1.8% as investors bet a Middle East peace deal could be signed within days.
WTI crude fell 1.9% to $86.08 and Brent dropped 1.5% to $89.08, extending overnight losses and easing fears that the three-month war will keep driving inflation higher.
Treasury yields and the dollar slipped as traders cut expectations for another Federal Reserve hike, with October hike pricing falling to 36% from 51%.
Trump said negotiations with Iran had reached the highest levels of its leadership, though earlier bursts of optimism had failed to produce a deal and rattled markets.