Asian Stocks Rise as Iran Tensions Ease

Asian stocks rose on July 27 as tensions between the US and Iran eased, leading to a decline in oil prices. The Brent crude price fell by as much as 7.4% to below $90 a barrel after the US paused its strikes against Iran.

The MSCI's Asia-Pacific equities gauge rose 0.5%, led by gains in South Korea and Japan. The S&P 500 futures rose 0.9%, while contracts for the Nasdaq 100 Index climbed 1.3%.

Treasuries rallied in early Asian trading as inflation concerns receded, and the US dollar weakened against its Group-of-10 peers. The pause in attacks raises 'hopes that the two sides will enter negotiations', said Shoji Hirakawa, chief global strategist at Tokai Tokyo Intelligence Lab.