Asian markets advanced on Monday after Wall Street posted a record close, buoyed by hopes for a diplomatic breakthrough in the seven‑week Middle East conflict. Gains were recorded across Tokyo, Hong Kong, Seoul, Shanghai, Sydney, Singapore, Mumbai, Wellington and Manila, even as Tehran announced it would not attend the upcoming peace talks. The rally was supported by a resurgence in technology stocks, echoing the sector‑led gains that had characterised global markets before the escalation of hostilities on February 28.
In contrast, European markets in London, Paris and Frankfurt slipped into negative territory. The dollar strengthened against major currencies after a sharp decline on Friday, reflecting its status as a safe‑haven asset during the crisis. Analysts noted that traders were weighing the prospects of salvaging a ceasefire through this week’s diplomatic negotiations, with some viewing recent hawkish rhetoric from Washington as a negotiating tactic rather than a signal of imminent military escalation.
U.S. President Donald Trump said negotiations with Iran were “very close” to a deal, insisting there were “no sticking points.” Tehran, however, rejected the transfer of its enriched uranium stockpile and cited the continued U.S. blockade of its ports as a precondition for talks. Iran’s Revolutionary Guards warned that any unauthorised movement through the Strait of Hormuz would be treated as cooperation with the enemy. So far, only one round of talks—a 21‑hour session in Islamabad on April 11—has been held, ending without a formal agreement. Preparations for further negotiations continue, but the path to a comprehensive accord remains fragile.
Oil prices rebounded sharply, with Brent crude up 6.2 % at $95.96 a barrel and West Texas Intermediate climbing 6.5 % to $89.27, reflecting renewed concerns over supply disruptions. These developments underscore the volatility of the situation and the market’s sensitivity to geopolitical signals, as investors closely watch for any shift in the diplomatic trajectory.
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