Asian Stocks Surge on US-Iran Ceasefire Hopes
Asian stock markets rallied sharply on Monday as investors reacted to hopes of a US-Iran ceasefire. Expectations of lower oil prices particularly boosted energy-importing economies, after crude prices rose sharply since the escalation of conflict in the Middle East in late February
Asian Stock Markets Surge on Ceasefire Hopes
REPORTER:
Asian stock markets leaped on Monday morning, as investors reacted to a tentative peace deal between the US and Iran.
The Taiex, Taiwan’s benchmark stock index, joined the rally, closing up at 2.78% on Monday.
This is while Japan's Nikkei led opening gains in Asia, jumping 5.5%.
South Korea's Kospi climbed 5.1%.
Analysts say hopes for lower oil prices boosted sentiment in energy-importing economies. Global oil prices have risen sharply since the start of the Middle East war in late February.
