Asian Stocks Stabilize as Oil Prices Edge Up Amid US-Iran Deal Hopes

Asian stocks stabilized on Tuesday after last week's tech-led rollercoaster ride, as investors tracked a record day on Wall Street. The Dow Jones ended at an all-time high, boosted by Amazon's surge past $3 trillion in market capitalization.

Oil prices edged up around one percent, having plunged five percent on Monday, on hopes for a US-Iran deal to reopen the Strait of Hormuz. US President Donald Trump said negotiations were ongoing despite Tehran's denials.

South Korea's Kospi swung between gains and losses, with chip giants SK hynix and Samsung at the center of attention again. Analysts are more upbeat about the outlook, citing supportive earnings and investment in AI infrastructure.