Asian stocks rise on Trump U-turn but unease sees oil prices edge up
Asian stocks rose today after Donald Trump delayed strikes on Iranian energy sites and hailed ‘very good’ talks with Tehran.
But oil prices edged back up as optimism over a possible de-escalation of the Middle East war remained shaky amid claims discussions had not taken place.
Markets largely enjoyed a positive day with Tokyo, Hong Kong, Shanghai, Sydney, Seoul, Singapore, Bangkok, Mumbai and Manila all up.
But oil prices crept up.
Brent rising nearly three percent and above $102, while WTI ((West Texas Intermediate) climbed more than three percent to more than $91, with investors still sceptical about the chances of a breakthrough in talks.
Following Trump’s announcement of a pause on Truth Social, Brent slumped as much as 14 percent at one point to $96, while all three main indexes on Wall Street climbed more than one percent, with commentators suggesting prices could drop to as low as $90.
However, the mood was deflated somewhat after Iranian media said there had been no talks between Tehran and Washington.
