US Iran agreement to reopen Hormuz Strait lifts Asian markets
Business
Asian markets got a small boost Tuesday after the US and Iran agreed to reopen the Strait of Hormuz, easing worries about oil supply.
MSCI Inc.'s gage of regional shares ticked up 0.1%, following a strong Monday for US stocks where the S&P 500 jumped 1.7% and the Nasdaq 100 soared 3.1%.
Brent near $84, central banks watched
Oil prices bounced back slightly, with Brent crude near $84 a barrel, as supply fears faded.
Now everyone is watching major central banks this week: Australia is expected to hold rates steady, while Japan might hike rates to the highest level since 1995.
Plus, policy updates from the Fed, Bank of England, and Swiss National Bank are coming soon. Investors are keen to see how they will handle inflation and growth after recent global events.