Japan’s Nikkei 225 has crossed 65,000 for the first time on Monday, hitting a record high based on reports that the Strait of Hormuz is likely to reopen soon and that has lowered oil prices as well as boosted investor sentiment.
As per reports, US President Donald Trump has instructed negotiators “not to rush into a deal” while earlier he stating that “negotiations were proceeding in an orderly and constructive manner.”
Oil prices declined over 5% after US President Donald Trump’s statement, this decline is a significant one as it reflects that investors are hopeful that the West Asia conflict will ease. Global oil prices in total have spiked over 50% since the start of the West Asia war.
Japan’s Nikkei 225 spiked over 3% to hit a record of 65,408.87. Taiwan’s TAIEX also hit a record high and gained past 43,000. South Korea’s Seoul Stock Exchange and KOSDAQ were shut due to Vesak Day and the Hong Kong Stock Exchange was also shut to observe Buddha’s Birthday (the Day Following Buddha’s Birthday).
Stock markets in Hong Kong and South Korea remain shut today on account of public holidays. US markets will also remain shut on Monday on account of Memorial Day.