SINGAPORE - Asian stocks rebounded on Thursday and oil beat a retreat, as the United States and Iran backed away from the brink of further conflict in the Middle East and investors reversed their safety plays.
Japan’s Nikkei opened 1.6% higher, putting stocks back where they were on Tuesday. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1%, following gains on Wall Street overnight. “Yesterday, investors were fearing the worst, that this was the escalation now underway. The news overnight has been more along the lines that Iran pulled its punches and Trump is toning things down,” he said. “Which is seen by investors as substantially reducing the risk of a war.”
Brent futures nursed overnight losses of 4% to sit at $65.44 per barrel, near the cheapest since mid-December. Iranian Foreign Minister Mohammad Javad Zarif had earlier said the strikes “concluded” Tehran’s response to the killing of Soleimani.
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Daily Briefing: Market tension eases as oil retreatsDaily Briefing: - Iranian commander's body in hometown for burial, U.S. denies quitting Iraq - Oil steadies as market ponders Iran's next move - Safe-haven currencies pull back as geopolitical tensions ease Daily Briefing: - Iranian commander's body in hometown for burial, U.S. denies quitting Iraq - Oil steadies as market ponders Iran's next move - Safe-haven currencies pull back as geopolitical tensions ease - Coffee is bitter today, now I'm upset Geopolitical tensions ease after just three days? as if 'the market' expects complex events like this to resolve one way or another within a couple of afternoons. It doesn't work that way. Only stupid people and algos think like that. It's yet another short squeeze...
Source: Reuters - 🏆 2. / 97 Read more »
Asia stocks rally, oil skids as investors reassess Mideast riskAsian shares rebounded on Tuesday as investors' reassessed the risk of an a... Well... that de-escalated quickly Why has Iran anxiety ebbed? Who says it's ebbed? Iran said they would retaliate after three days of mourning. Anxiety should be very high about now.
Source: Reuters - 🏆 2. / 97 Read more »