HONG KONG (AP) — Asian stocks mostly gained while oil prices steadied Thursday over expectations of an extension of a ceasefire in the Iran war and hopes for more talks between the U.S. and Iran. Tokyo’s Nikkei 225 jumped 2.4% to 59,549.59. South Korea’s Kospi climbed 2% to 6,215.38. Hong Kong’s Hang Seng rose 1.2% to 26,269.99, while the Shanghai Composite index was up 0.6% to 4,050.42. China on Thursday reported 5% economic growth for the January-March quarter, an acceleration from the previous quarter. While economists say China has largely shrugged off the initial impacts from the Iran war, some are warning its massive export engine could be hit more significantly in the coming months on slower global economic growth. Taiwan’s Taiex was trading 0.9% higher, while Australia’s S&P/ASX 200 edged down 0.1%. On Wednesday, regional officials told The Associated Press that the U.S. and Iran had an “in principle agreement” to extend a two-week ceasefire deal that is expiring next week and were making progress toward another round of talks. U.S. Treasury Secretary Scott Bessent also warned that Washington was preparing to apply secondary sanctions on those doing business with Iran – including potentially those from China that’s buying Iranian oil – in order to step up economic pressure on the country. Oil steadied early Thursday. Brent crude, the international standard, edged up less than 0.1% to $94.94 per barrel. Benchmark U.S. crude, meanwhile, was up 0.4% to $91.66 a barrel. Oil prices have surged since the Iran war began in late February. The Strait of Hormuz, a crucial waterway where roughly a fifth of the world’s oil passes through normally, has remained largely closed. The U.S. has imposed a sea blockade on Iranian ports this week to force Tehran to reopen the strait and to accept a deal. “The key upside risk for the market is that peace talks between the US and Iran break down,” ING Bank strategists Warren Patterson and Ewa Manthey wrote in a note Thursday. “This isn’t an unrealistic scenario, given that US and Iranian demands remain fairly wide apart.” On Wednesday, Wall Street hit a record on optimism over progress on a longer term ceasefire of the Iran war. The benchmark S&P 500 rose 0.8% to 7,022.95, eclipsing its prior all-time high set in January. The Nasdaq composite gained 1.6% to 24,016.02, while the Dow Jones Industrial Average edged down 0.2% to 48,463.72. Shares of Bank of America were 1.8% higher after the bank announced better-than-expected quarterly results and its CEO Brian Moynihan saw signs of a “resilient American economy” including solid spending by consumers. Shares of Morgan Stanley gained 4.5% also following better-than-expected quarterly results. San Francisco-based shoe brand Allbirds’ share price ballooned 582% to nearly $17, after saying it’s shifting into artificial intelligence and would be changing its name to NewBird AI. In other dealings, gold and silver prices were higher. Gold’s price climbed 0.5% on Thursday to $4,846.40 an ounce, while silver prices climbed 1.3% to $80.62 per ounce. The U.S. dollar fell to 158.58 Japanese yen from 159 yen. The euro was trading at $1.1814, up from $1.1799. ___ AP Business Writer Stan Choe contributed to this report.
HONG KONG (AP) — Asian stocks mostly gained while oil prices steadied Thursday over expectations of an extension of a ceasefire in the Iran war and hopes for more talks between the U.S. and Iran. Tokyo’s Nikkei 225 jumped 2.4% to 59,549.59. South Korea’s Kospi climbed…
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According to unverified accounts provided by a relative, Valivade served as a refuge for approximately 5,000 Polish refugees between 1942 and 1948, a period marked by the displacement of civilians following the 1939 invasion of Poland. The source claims that individual survivors, including a girl reportedly disguised to avoid danger, found temporary stability at the settlement, which is locally known as "Drugi Dom.
The United States and Israel have reportedly engaged in a regional conflict with Iran for nearly six months, during which Strait of Hormuz oil transit has remained significantly below prewar levels of 20 million barrels per day, despite U.S. officials claiming Navy escort operations.
Although the Strait typically facilitates over 20% of global energy trade, analysts suggest that the Islamic Revolutionary Guard Corps may continue to restrict normal transit even if diplomatic agreements are reached. Current tensions have escalated following the expiration of a reported 60-day ceasefire, prompting the U.
S. to announce new economic isolation measures while hostilities appear to have resumed.
Sudan’s civil war, which has persisted for nearly four years, has reportedly displaced over 13 million people and caused significant famine, with casualty estimates suggesting approximately 59,000 deaths. Recent U.S. officials have highlighted the severity of the humanitarian crisis, noting that two-thirds of the population requires aid, while reports from the UN Security Council indicate that armed drones have been responsible for the majority of recorded civilian deaths in the first half of the year.
The cease-fire agreement between Iran and the United States established a 60-day deadline to negotiate a final peace deal, with discussions reportedly addressing limits on Iran's nuclear program.