Asian shares jump on hopes for Strait of Hormuz reopening deal
Updated
Updated · WGR550 · May 6
Asian shares jump on hopes for Strait of Hormuz reopening deal
15 articles · Updated · WGR550 · May 6
Tokyo's Nikkei 225 rose 5.7% to 62,915.87 as trading resumed after Golden Week, while Hong Kong, Australia and Taiwan gained and South Korea's Kospi fell 1.4%.
Brent crude rebounded $1.06 to $102.29 after tumbling 7.8% on Wednesday, as Donald Trump said the strait could reopen if Iran accepts a reported agreement.
The war's effective closure of the strait has disrupted Persian Gulf oil exports and fuelled inflation fears, though strong US earnings and AI-linked tech gains have helped sustain global equity markets.
Can the fragile US-Iran truce truly end the energy crisis, or is another oil price shock just one negotiation away?
What unwritten terms in the US-Iran deal could permanently alter global energy markets and alliances?