Nikkei and Kospi rise on US rebound amid Iran hopes
Business
Asian stock markets got a boost on Friday after US stocks managed to recover from early losses.
Japan's Nikkei rose 1.4% and South Korea's Kospi climbed 2.7%, thanks to growing hopes that tensions with Iran might cool off soon.
Iran and Oman monitor Hormuz shipping
The market mood improved after news broke that Iran and Oman are working together to monitor shipping in the Strait of Hormuz, which helped ease worries about conflict.
Oil prices spiked above $110 a barrel but settled down once diplomatic efforts surfaced; meanwhile, the dollar slipped as investors felt less need for safe-haven assets.