Asian shares surge and oil prices slip after Trump claims a breakthrough in Iran war talks

Asian shares surged and oil prices slipped on Friday following U.S. President Donald Trump's announcement of a breakthrough in talks to end the Iran war. Major markets including South Korea's Kospi, Tokyo's Nikkei 225, and Hong Kong's Hang Seng saw significant gains, with technology stocks leading the advance. This renewed investor optimism comes after Trump stated he had called off military strikes against Iran and asserted a "great settlement of the war" was imminent. Global markets had previously retreated due to escalating U.S.-Iran tensions and high oil prices. Brent crude oil fell to $88.37 per barrel, still elevated compared to pre-war levels. Wall Street also experienced a strong performance on Thursday, with the S&P 500, Dow Jones Industrial Average, and Nasdaq composite all climbing.

Global stock markets surged following US President Donald Trump's announcement that he had called off planned strikes against Iran and suggested a peace deal with Tehran is imminent. Wall Street saw significant gains on Thursday, with the S&P 500 rising nearly 1.8 percent. Asian markets continued this rally on Friday, with major indices in Japan, South Korea, Taiwan, Hong Kong, and Australia experiencing notable increases. This market rebound is attributed to hopes for an end to tensions between the US and Iran, which has also led to a drop in Brent crude oil prices. Trump stated that a settlement with Iran was reached, pending finalization of documents, while an Iranian Ministry of Foreign Affairs spokesman indicated a memorandum of understanding with the US is under consideration.