Asian stocks had their best session in weeks on Thursday, as the U.S. and Iran backed away from the brink of conflict in the Middle East and investors reversed their flight to safety.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1.3 per cent, its sharpest gain in almost a month. “I think today is a bit of a relief rally,” said Shane Oliver, Chief Economist at AMP Capital in Sydney.“The news overnight has been more along the lines that Iran pulled its punches and Trump is toning things down, which is seen by investors as substantially reducing the risk of war,” he said.
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