Asian stocks bounce back on hope of Iran-US talks
Asian stocks bounced back in a big way on Tuesday; South Korea's Kospi jumped more than 3% (closed 1.5% higher), Japan's Nikkei advanced more than 2%, and Hong Kong's Hang Seng climbed about 1.6% (1.62%).
This rally came after President Trump suggested talks with Iran could help end their conflict, even though Iran pushed back on those claims.
Cheaper oil gives Asia's energy-hungry economies breathing room
Cheaper oil, with Brent easing from nearly $120 to about $100 a barrel and US crude around $88-90 a barrel, is giving Asia's energy-hungry economies some breathing room, especially for airlines and manufacturers.
Wall Street's Russell 2000 also got a boost, rising 2.3%.
After Monday's market drop over Iran threats, Trump's comments offered investors some much-needed relief.
Trump extends ultimatum to Iran
Trump extended his ultimatum to Iran about reopening the Strait of Hormuz.
Iran denied the talks and accused the reports of being fake news used to manipulate the financial and oil markets, but for now, investors seem hopeful that tensions might cool down soon.