Trump Rejects Iran's Ceasefire Conditions, Asian Stocks Show Mixed Trends
US President Donald Trump rejected Iran's ceasefire conditions, raising concerns about escalating Middle East conflict and increased risks to oil transit through the Strait of Hormuz, driving up oil prices. Asian stock markets showed mixed movements, with Tokyo falling.
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- 📰 Published: May 11, 2026 at 19:35
- 🔍 Collected: May 11, 2026 at 20:02 (26 min after Published)
- 🤖 AI Analyzed: May 11, 2026 at 22:21 (2h 19m after Collected)
TOKYO (CNA) – US President Donald Trump's rejection of Iran's ceasefire conditions has fueled concerns about an escalating conflict in the Middle East and increased risks to oil transit through the Strait of Hormuz, leading to a rise in oil prices today, while Asian stock markets showed mixed trends.
According to AFP, Trump posted on social media, "I just read Iran's so-called 'response.' I didn't like it, completely unacceptable!" He is expected to visit China this week, where the Iran war is anticipated to be a key discussion point.
Esmaeil Baqaei, spokesperson for Iran's Ministry of Foreign Affairs, stated today that Iran demands a cessation of war, the lifting of the US maritime blockade, and the "unfreezing of Iranian assets unfairly frozen in foreign banks for many years."
Lloyd Chan, a senior currency analyst at Japan's Mitsubishi UFJ Financial Group, commented that President Trump's swift rejection of Iran's demands "highlights the deep chasm between the two sides, suggesting that the situation is unlikely to cool down quickly in the short term, and uncertainty will persist."
He added, "For the oil market, this means that as long as transit through the Strait of Hormuz remains disrupted, geopolitical risk premiums are likely to continue supporting oil prices."
Asian stock markets showed varied performances today, with Tokyo closing down 0.47%, Hong Kong remaining almost flat, and Seoul surging 4.32% driven by technology stocks.
Japanese gaming giant Nintendo's shares plummeted over 8% in Tokyo after it warned on May 8 of an expected profit decline this year and announced a price increase for its Switch 2 console. (Edited by Hung Pei-ying) 1150511
According to AFP, Trump posted on social media, "I just read Iran's so-called 'response.' I didn't like it, completely unacceptable!" He is expected to visit China this week, where the Iran war is anticipated to be a key discussion point.
Esmaeil Baqaei, spokesperson for Iran's Ministry of Foreign Affairs, stated today that Iran demands a cessation of war, the lifting of the US maritime blockade, and the "unfreezing of Iranian assets unfairly frozen in foreign banks for many years."
Lloyd Chan, a senior currency analyst at Japan's Mitsubishi UFJ Financial Group, commented that President Trump's swift rejection of Iran's demands "highlights the deep chasm between the two sides, suggesting that the situation is unlikely to cool down quickly in the short term, and uncertainty will persist."
He added, "For the oil market, this means that as long as transit through the Strait of Hormuz remains disrupted, geopolitical risk premiums are likely to continue supporting oil prices."
Asian stock markets showed varied performances today, with Tokyo closing down 0.47%, Hong Kong remaining almost flat, and Seoul surging 4.32% driven by technology stocks.
Japanese gaming giant Nintendo's shares plummeted over 8% in Tokyo after it warned on May 8 of an expected profit decline this year and announced a price increase for its Switch 2 console. (Edited by Hung Pei-ying) 1150511