Now Reading: Asian stocks rally, oil rises as Iran rejects US talks
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Asian stocks rally, oil rises as Iran rejects US talks
Asian shares mostly rose on Monday after the S&P 500 closed at a record high on Friday, but gains were capped by oil prices climbing above $84 a barrel. Japan's Nikkei 225…
The Story in Brief
Asian shares mostly rose on Monday after the S&P 500 closed at a record high on Friday, but gains were capped by oil prices climbing above $84 a barrel. Japan's Nikkei 225 gained 1.62 per cent and South Korea's Kospi rose 1 per cent, while Australia's ASX 200 slipped 0.25 per cent, NDTV Profit reported.
Brent crude extended its rally past $84 as Iran denied direct negotiations with the US over reopening the Strait of Hormuz. President Donald Trump said Washington was only "semi-negotiating" with Tehran, weakening hopes of easing shipping disruptions. In India, the Sensex dipped to 78,479 in early trade and Nifty slipped to 24,567, The Hindu BusinessLine reported.
The Indian Opinion
The narrative of a one-way bull market is overdone. Oil above $84 is a real risk, though weekend attacks and Iran's denials are not new. The US-Iran talks, or lack of them, remain the swing factor. Watch if Brent closes above $85 and whether the Fed's rate-cut bets survive this week's US consumer price data. Those two numbers will settle the market's direction more than any headline from Tehran or Washington.
Sources (5): ndtvprofit.com, ndtvprofit.com (2), thehindubusinessline.com, ndtvprofit.com (3), rediff.com
This story was synthesised by AI from the 5 sources linked above.
Updated: this story now draws on 5 sources.
