Asian stock markets close higher with record in Tokyo and war negotiations

Asian stock markets closed higher this Monday (25), with a record high in Tokyo, after US President Donald Trump said that peace negotiations with Iran are progressing.

The possibility of reopening the crucial Strait of Hormuz was also a factor that helped push Brent crude prices below $100 per barrel.

The Japanese Nikkei index rose 2.87% in Tokyo, to an unprecedented level of 65,158.19 points, amid the strong performance of shares linked to chips, such as Kioxia Holdings (+14%) and Lasertec (+13%).

In mainland China, the Shanghai Composite advanced 0.96%, to 4,152.57 points, and the less comprehensive Shenzhen Composite registered a similar increase, of 0.94%, to 2,889.55 points.

In Taiwan, Taiex jumped 3.26% in Taiwan, to 43,644.40 points.

In South Korea and Hong Kong, markets did not operate due to public holidays.

Trump said negotiations with Iran are "proceeding in an orderly and constructive manner."

Meanwhile, regional officials said yesterday that the US is close to reaching a deal with Iran that would end the war, reopen the Strait of Hormuz and cause Tehran to give up its stockpile of highly enriched uranium.

The reopening of Hormuz will help shape the direction of oil prices. The closure has prevented tankers from leaving the Persian Gulf and delivering crude oil to customers around the world.

Japan, for example, imports almost all of its oil - most of it through the strait.

At the end of the morning, Brent oil fell more than 4%, to around US$96 per barrel, returning to below the important level of US$100 per barrel.

In Oceania, the Australian stock market was also in the black, with an increase of 0.40% in the S&P/ASX 200 in Sydney, at 8,692.00 points.

Source: CNN