Asian shares track Wall Street gains and oil prices climb on uncertainty over the Iran war

Asian shares track Wall Street gains and oil prices climb on uncertainty over the Iran-war" class="entity-link entity-event" data-entity-id="38748" data-entity-type="event">Iran war 1 of 5 | Currency traders watch monitors at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, May 20, 2026. (AP Photo/Ahn Young-joon) 2 of 5 | Asia markets index of Japan, South Korea and Australia is seen on a screen at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, May 14, 2026. (AP Photo/Ahn Young-joon) 3 of 5 | People pass the New York Stock Exchange on May 28, 2024, in New York. (AP Photo/Peter Morgan, File) 4 of 5 | A dealer talks on the phone at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 13, 2026. (AP Photo/Lee Jin-man) 5 of 5 | American flags fly outside the New York Stock Exchange, Friday, Sept. 23, 2022, in New York. (AP Photo/Mary Altaffer, File) 1 of 5 | Currency traders watch monitors at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, May 20, 2026. (AP Photo/Ahn Young-joon) 1 of 5 Currency traders watch monitors at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Wednesday, May 20, 2026. (AP Photo/Ahn Young-joon) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share 2 of 5 | Asia markets index of Japan, South Korea and Australia is seen on a screen at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, May 14, 2026. (AP Photo/Ahn Young-joon) 2 of 5 Asia markets index of Japan, South Korea and Australia is seen on a screen at the foreign exchange dealing room of the Hana Bank headquarters in Seoul, South Korea, Thursday, May 14, 2026. (AP Photo/Ahn Young-joon) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share 3 of 5 | People pass the New York Stock Exchange on May 28, 2024, in New York. (AP Photo/Peter Morgan, File) 3 of 5 People pass the New York Stock Exchange on May 28, 2024, in New York. (AP Photo/Peter Morgan, File) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share 4 of 5 | A dealer talks on the phone at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 13, 2026. (AP Photo/Lee Jin-man) 4 of 5 A dealer talks on the phone at a dealing room of Hana Bank in Seoul, South Korea, Wednesday, May 13, 2026. (AP Photo/Lee Jin-man) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share 5 of 5 | American flags fly outside the New York Stock Exchange, Friday, Sept. 23, 2022, in New York. (AP Photo/Mary Altaffer, File) 5 of 5 American flags fly outside the New York Stock Exchange, Friday, Sept. 23, 2022, in New York. (AP Photo/Mary Altaffer, File) Add AP News on Google Add AP News as your preferred source to see more of our stories on Google. Share Updated [hour]:[minute] [AMPM] [timezone], [monthFull] [day], [year] HONG KONG (AP) — Asian shares advanced Friday following modest gains on Wall Street, while oil prices rose as efforts to end the Iran-war" class="entity-link entity-event" data-entity-id="38748" data-entity-type="event">Iran war yielded limited results.oil prices had eased Thursday in U.S. trading, alleviating pressure from the bond market as yields fell. Earlier this week yields climbed so high they threatened to slow economies worldwide and undercut prices for stocks, bitcoin and all kinds of other investments.U.S. futures edged higher and Tokyo’s Nikkei 225 rose 2.7% to 63,339.07. A report showed inflation hitting a four-year low in April, at 1.4%, despite higher prices for oil and gas due to the war. South Korea’s Kospi gained 0.4% to 7,847.71.Hong Kong’s Hang Seng picked up 0.9% to 25,612.40, while the Shanghai Composite index climbed 0.9% to 4,112.90.Australia’s S&P/ASX 200 gained 0.4% to 8,657.00.Taiwan’s Taiex closed 2.2% higher, while India’s Sensex rose 0.6%. oil prices remained elevated over disruptions around the Strait of Hormuz, a critical waterway for oil and gas transit, with shipping activities still well below before the Iran-war" class="entity-link entity-event" data-entity-id="38748" data-entity-type="event">Iran war began in late February. Talks between the U.S. and Iran have dragged on, adding to uncertainty. 2 MIN READ 3 MIN READ 4 MIN READ Republicans in Congress delayed into June planned votes on dismissing legislation that would compel President Donald Trump to withdraw from the war. The House had scheduled a Thursday vote on a war powers resolution brought by Democrats that would rein in Trump’s military campaign. But as it became clear that Republicans would not have the numbers to defeat the bill, GOP leaders declined to hold a vote on it. Brent crude, the international standard, gained 2.3% to $104.97 a barrel. It was around $70 per barrel in February before the war’s start. Benchmark U.S. crude traded 1.8% higher at $98.10 a barrel.“Markets are still searching for signs of progress in a potential deal between the US and Iran,” ING commodities strategists Warren Patterson and Ewa Manthey wrote in a note on Friday. “While there are signs of optimism, uncertainty reigns.” Wall Street gained on Thursday, with the benchmark S&P 500 adding 0.2% to 7,445.72. The Dow Jones Industrial Average climbed 0.6% to 50,285.66, while the technology-heavy Nasdaq composite edged up 0.1% to 26,293.10.Shares of Nvidia fell 1.8% despite better-than-expected quarterly results on the artificial intelligence frenzy, with some analysts believing its share price still as undervalued.Southwest Airlines gained 2.7% and American Airlines climbed 4.9% as oil prices eased before bouncing back. Ralph Lauren surged 13.9% following stronger-than-expected quarterly results.In other dealings early Friday, the yield on the U.S. 10-year Treasury was at 4.57%, down from more than 4.67% earlier in the week, when higher global inflationary pressures stemming from the war fueled a surge in bond yields.The U.S. dollar rose to 159.12 Japanese yen from 158.98 yen. The euro was trading at $1.1605, down from $1.1619.