Asian stocks rebounded on Thursday and oil edged up as the United States and Ira...
SINGAPORE - Asian stocks rebounded on Thursday and oil edged up as the United States and Iran backed away from the brink of further conflict in the Middle East and investors unwound safety plays.
MSCI’s broadest index of Asia-Pacific shares outside Japan rose 1%, as did Hong Kong’s Hang Seng and Shanghai blue chips, reversing Wednesday’s losses. “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 prices crept up from month lows hit overnight to $65.84 per barrel, about where they began the year. Iranian Foreign Minister Mohammad Javad Zarif had earlier said the strikes “concluded” Tehran’s response to the killing of Soleimani.
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