Asian shares mostly rise as oil prices fall and hope grows for AI
TOKYO (AP) — Asian shares mostly rose in early Wednesday trading, as investors kept an eye on the ongoing talks over reopening the Strait of Hormuz , which remains largely shut down because of the war in Iran . The global interest in artificial…
Asian stock markets experienced a mostly positive start on Wednesday, with investors closely monitoring ongoing negotiations to reopen the Strait of Hormuz. The waterway has been largely blocked due to the ongoing conflict in Iran. The global focus on artificial intelligence also contributed to some regional optimism, while falling oil prices boosted hope in oil-importing countries such as Japan.
Japan's Nikkei 225 index climbed 0.6% to 66,227.55, while Australia's S&P/ASX 200 fell 0.2% to 9,142.60. South Korea's Kospi gained 1.6% to 6,849.92, and Hong Kong's Hang Seng increased 0.8% to 25,712.29. The Shanghai Composite rose slightly by 0.7% to 3,917.04. Oil prices kept falling, with the benchmark U.S. crude dropping $2.06 to $80.30 a barrel, and Brent crude decreasing $2.31 to $86.27 a barrel.
Tensions between the United States and Iran appeared to intensify after the Trump administration announced fresh sanctions to further weaken Iran's economy. The recent talks aimed at managing ship traffic through the Strait of Hormuz followed an oil tanker attack off Oman, highlighting the ongoing risks for shipping companies navigating the contested waterway.
Additionally, a Pakistani delegation held talks with Iran's president, discussing a potential revival of negotiations to resolve the Iran-U.S. conflict.
Written by urgent.news from Associated Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
Also reported by 1 other outlet
- Asian shares rise as oil’s decline lifts sentiment businesstimes.com.sg
