Trump's Comments Stabilize Oil Prices Amid Mixed Global Markets
Global shares were mixed on Wednesday after US President Donald Trump's comments at the UN General Assembly. The meeting between US and Iranian officials was described as 'very good' by Trump, which helped to stabilize oil prices that had been under pressure following his threat of military action against Iran.
Oil prices remained below $100 a barrel, with Brent crude trading at $99.30 per barrel after falling earlier in the day. The stabilization of oil prices was attributed to diplomatic progress between the US and Iran as well as optimism over reports that Saudi Arabia was restarting operations at a key oil pipeline.
The meeting between Trump and Iranian officials was seen as a positive development by investors, with major technology stocks trading higher in Asia. Samsung Electronics rose 3.3%, while South Korean memory chipmaker SK Hynix added 1.2%. Shares of Taiwan Semiconductor Manufacturing Co., or TSMC, were up 1.6%.