Asian Stocks Mostly Close Higher Following US Gains Amid Focus on Middle East Conflict Development
International oil prices saw a slight increase after volatile movements, as investors continue to monitor the Middle East conflict. With several Asian countries closed for Labor Day, markets that remained open today largely closed higher, tracking gains in US stocks. Negotiations between the US and Iran have stalled, causing concerns about the Strait of Hormuz and contributing to oil price volatility.
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- 📰 Published: May 1, 2026 at 18:49
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Key news on the US-Iran conflict
Central News
(Central News Agency, Hong Kong, May 1st, Comprehensive Foreign Report) International oil prices saw a slight increase after dramatic fluctuations, as investors continued to monitor the developments of the US-Iran conflict. With many Asian countries closed for Labor Day, Asian stock markets that remained open today largely closed higher, following gains in US stocks.
According to Agence France-Presse, negotiations between the United States and Iran have stalled over the past week, and it seems unlikely that the two sides will reach an agreement to reopen the Strait of Hormuz in the short term, keeping this important waterway blocked.
In early April, news of a US-Iran ceasefire led to a sharp drop in international oil prices, but as negotiations stalled recently, oil prices quickly rebounded. US news website Axios reported earlier this week that US President Donald Trump would soon be briefed by General Brad Cooper, commander of US Central Command (CENTCOM), on new plans for operations against Iran. It is also rumored that the US military has requested the deployment of "Dark Eagle" hypersonic missiles to strike targets deep within Iran.
This news caused oil prices to surge and deepened market concerns, especially after Trump had warned just days before that the US blockade of Iranian ports could last for several months.
Brent crude prices for June delivery surged 5.6% yesterday, briefly touching $126 per barrel, before closing lower at $114; West Texas Intermediate crude for June delivery saw a small increase.
Investors are closely watching developments in Washington and Tehran, hoping that both sides will make new progress to end this crisis that has severely impacted the global economy.
With many Asian countries closed for Labor Day, stock markets in Tokyo, Sydney, and Wellington today closed higher, following the upward trend in US stocks.
The Bank of England (BOE), the UK's central bank, decided yesterday to maintain its benchmark interest rate at 3.75%, but warned that further rate hikes might be necessary if the Middle East conflict continues to fuel inflation. The European Central Bank (ECB) also announced it would keep interest rates at 2%, noting that risks to economic growth and inflation prospects are increasing due to the war. (Translated by Hung Chi-yuan) 1150501
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Central News
(Central News Agency, Hong Kong, May 1st, Comprehensive Foreign Report) International oil prices saw a slight increase after dramatic fluctuations, as investors continued to monitor the developments of the US-Iran conflict. With many Asian countries closed for Labor Day, Asian stock markets that remained open today largely closed higher, following gains in US stocks.
According to Agence France-Presse, negotiations between the United States and Iran have stalled over the past week, and it seems unlikely that the two sides will reach an agreement to reopen the Strait of Hormuz in the short term, keeping this important waterway blocked.
In early April, news of a US-Iran ceasefire led to a sharp drop in international oil prices, but as negotiations stalled recently, oil prices quickly rebounded. US news website Axios reported earlier this week that US President Donald Trump would soon be briefed by General Brad Cooper, commander of US Central Command (CENTCOM), on new plans for operations against Iran. It is also rumored that the US military has requested the deployment of "Dark Eagle" hypersonic missiles to strike targets deep within Iran.
This news caused oil prices to surge and deepened market concerns, especially after Trump had warned just days before that the US blockade of Iranian ports could last for several months.
Brent crude prices for June delivery surged 5.6% yesterday, briefly touching $126 per barrel, before closing lower at $114; West Texas Intermediate crude for June delivery saw a small increase.
Investors are closely watching developments in Washington and Tehran, hoping that both sides will make new progress to end this crisis that has severely impacted the global economy.
With many Asian countries closed for Labor Day, stock markets in Tokyo, Sydney, and Wellington today closed higher, following the upward trend in US stocks.
The Bank of England (BOE), the UK's central bank, decided yesterday to maintain its benchmark interest rate at 3.75%, but warned that further rate hikes might be necessary if the Middle East conflict continues to fuel inflation. The European Central Bank (ECB) also announced it would keep interest rates at 2%, noting that risks to economic growth and inflation prospects are increasing due to the war. (Translated by Hung Chi-yuan) 1150501
Choose to stand with facts; every sponsorship you provide is a force for protecting press freedom.
Download the Central News Agency "First-Hand News" APP to stay updated with the latest news.
The text, images, and audio on this website may not be reproduced, broadcast, transmitted, or used without authorization.