{
  "id": 10774984,
  "title": "Asian markets drop and oil rises as Hormuz hopes fade",
  "url": "https://urgent.news/2026/09/28/asian-markets-drop-and-oil-rises-as-hormuz-hopes-fade",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T21:00:00.000Z",
  "source": {
    "name": "Gulf Times Business",
    "slug": "gulf-times-business",
    "url": "https://www.gulf-times.com/article/734458/business/asian-markets-drop-and-oil-rises-as-hormuz-hopes-fade"
  },
  "original_language": "en",
  "account": "Asian stock markets experienced a decline on Tuesday as hopes for a reopening of the Strait of Hormuz faded, with investors anticipating another interest rate hike from the Federal Reserve next month. The Nikkei 225 in Tokyo closed down 0.6% to 65,481.27 points, while the Hong Kong Hang Seng Index fell by 0.5% to 24,523.57 points. Shanghai's Composite index saw a slight increase of 0.2% to 3,830.45 points. The optimism of easing Middle East tensions was shattered last weekend when US President Donald Trump dismissed Iran's proposal for a seven-day truce, stating that talks would resume the following week. However, this did not alleviate market concerns as traders pondered the potential impact of further inflation increases, which may force the Fed to tighten monetary policy more aggressively. Trump denied a report by Axios that he had offered Iran sanctions relief and the release of frozen funds, insisting that he provided nothing. The story, quoting unnamed US officials, claimed that Trump was willing to provide the sanctions relief and release of frozen funds in exchange for specific Iranian actions related to its nuclear program. Iran's state broadcaster reported that their foreign minister, Abbas Araghchi, would meet Qatari representatives, focusing on messages exchanged through intermediaries and the conditions set by Iran for reopening the Strait of Hormuz. Iran's officials privately expressed skepticism about reaching a deal before the November US midterm elections. The Strait of Hormuz is crucial for global oil and gas deliveries and has become a focal point in the US-Iran conflict, particularly with the Houthis seizing the Red Sea coast, including the Bab al-Mandab Strait, another vital shipping lane. Investors remain cautious, anticipating ongoing market volatility and global economic adjustments due to supply disruptions.",
  "summary": "Asian stocks mostly fell and oil prices extended gains on Tuesday as hopes for a reopening of the Strait of Hormuz fade amid expectations the Federal Reserve will hike interest rates again next month....",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}