US-Iran Peace Talks Stagnate, Asian Stocks Mostly Close Lower as Oil Prices Surge
As US-Iran peace talks show no progress and the Strait of Hormuz remains closed, oil prices have surged, leading to a general decline in Asian stock markets.
📋 Article Processing Timeline
- 📰 Published: April 23, 2026 at 19:17
- 🔍 Collected: April 23, 2026 at 19:32 (14 min after Published)
- 🤖 AI Analyzed: April 23, 2026 at 20:58 (1h 26m after Collected)
Central News
(CNA, Hong Kong, 23rd, Foreign Dispatch) US-Iran peace talks appear to remain stalled, with Tehran continuing to refuse to reopen the Strait of Hormuz. As investors assess the evolving situation, Asian stocks mostly closed lower today, while international oil prices rose.
According to an AFP report, after hopes for a breakthrough in the second round of US-Iran talks in Pakistan were dashed, Tehran recently intercepted several ships attempting to cross the Strait of Hormuz, citing US blockade actions as the very reason for refusing to open the strait.
Investors had been confident earlier this week that a breakthrough to end the Middle East war was possible, with strong corporate earnings and buying in artificial intelligence (AI) concept stocks providing positive support.
Global security monitoring agencies and the Islamic Revolutionary Guard Corps (IRGC) stated that Iranian forces have seized two ships in the Strait of Hormuz and fired upon a third, causing international oil prices to surge nearly 4% in early Asian trading today.
Tehran stated that ships must obtain permission to enter or exit the Persian Gulf. The White House, however, said that President Donald Trump does not view this action as a violation of the ceasefire agreement, because the affected ships were not registered to the US or Israel.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf pointed out: "A comprehensive ceasefire is only meaningful if it is free from naval blockade violations. Under a blatant violation of the ceasefire, reopening the Strait of Hormuz is impossible."
White House Press Secretary Karoline Leavitt told reporters earlier: "The President has not set a clear deadline for Iran to submit a peace proposal, contrary to some reports I've seen today. The timeline will ultimately be decided by the President."
Oil prices continued to hover at high levels today, with London Brent crude futures standing firmly above $100 per barrel, briefly surpassing $106 in early trading.
Asian stock markets mostly closed lower today. Stocks in Tokyo, Hong Kong, Shanghai, Taipei, Sydney, Wellington, and Manila all fell. Seoul was the sole bright spot; the South Korean benchmark KOSPI index, led by tech stocks, hit a record high of 6,535 points at the open today, though gains narrowed slightly by the close.
According to a report by the Washington Post, the Pentagon has informed Congress that it could take six months to completely clear the naval mines deployed by the Iranian military in the Strait of Hormuz, and any such action is unlikely to occur before the US-Iran war ends. The report implies that gasoline and oil prices may remain high ahead of the US midterm elections. (Translated by: Hong Qiyuan) 1150423
(CNA, Hong Kong, 23rd, Foreign Dispatch) US-Iran peace talks appear to remain stalled, with Tehran continuing to refuse to reopen the Strait of Hormuz. As investors assess the evolving situation, Asian stocks mostly closed lower today, while international oil prices rose.
According to an AFP report, after hopes for a breakthrough in the second round of US-Iran talks in Pakistan were dashed, Tehran recently intercepted several ships attempting to cross the Strait of Hormuz, citing US blockade actions as the very reason for refusing to open the strait.
Investors had been confident earlier this week that a breakthrough to end the Middle East war was possible, with strong corporate earnings and buying in artificial intelligence (AI) concept stocks providing positive support.
Global security monitoring agencies and the Islamic Revolutionary Guard Corps (IRGC) stated that Iranian forces have seized two ships in the Strait of Hormuz and fired upon a third, causing international oil prices to surge nearly 4% in early Asian trading today.
Tehran stated that ships must obtain permission to enter or exit the Persian Gulf. The White House, however, said that President Donald Trump does not view this action as a violation of the ceasefire agreement, because the affected ships were not registered to the US or Israel.
Iranian Parliament Speaker Mohammad Bagher Ghalibaf pointed out: "A comprehensive ceasefire is only meaningful if it is free from naval blockade violations. Under a blatant violation of the ceasefire, reopening the Strait of Hormuz is impossible."
White House Press Secretary Karoline Leavitt told reporters earlier: "The President has not set a clear deadline for Iran to submit a peace proposal, contrary to some reports I've seen today. The timeline will ultimately be decided by the President."
Oil prices continued to hover at high levels today, with London Brent crude futures standing firmly above $100 per barrel, briefly surpassing $106 in early trading.
Asian stock markets mostly closed lower today. Stocks in Tokyo, Hong Kong, Shanghai, Taipei, Sydney, Wellington, and Manila all fell. Seoul was the sole bright spot; the South Korean benchmark KOSPI index, led by tech stocks, hit a record high of 6,535 points at the open today, though gains narrowed slightly by the close.
According to a report by the Washington Post, the Pentagon has informed Congress that it could take six months to completely clear the naval mines deployed by the Iranian military in the Strait of Hormuz, and any such action is unlikely to occur before the US-Iran war ends. The report implies that gasoline and oil prices may remain high ahead of the US midterm elections. (Translated by: Hong Qiyuan) 1150423