Asian Shares Rise Amid Eased Tensions Between US and Iran
Oil prices retreated on Thursday after recent gains, but Asian shares advanced. Brent crude, the international benchmark, fell by 0.4% to $95.26 per barrel, while US crude shed 0.1% to $90.84 a barrel.
The decline in oil prices came as tensions between the US and Iran eased, with President Donald Trump saying he didn't expect the bombing campaign to last much longer.
Despite the drop in oil prices, Asian shares rose across the board. The Nikkei 225 index in Tokyo gained 0.2%, led by gains from SoftBank Group, Kioxia Holdings, and Tokyo Electron.
The advance in Asia was driven by strong US stocks on Wednesday, with the S&P 500 gaining 0.5% and the Dow Jones Industrial Average climbing 0.6%. Tech companies Dell and Palo Alto Networks provided some encouraging signals about demand for artificial intelligence, a key driver behind the S&P 500's gains this year.