{"id":8818,"date":"2026-06-29T10:58:01","date_gmt":"2026-06-29T10:58:01","guid":{"rendered":"https:\/\/ograsset.com\/?p=8818"},"modified":"2026-06-29T10:58:03","modified_gmt":"2026-06-29T10:58:03","slug":"stocks-rise-oil-edges-up-as-us-iran-agree-to-halt-attacks","status":"publish","type":"post","link":"https:\/\/ograsset.com\/index.php\/2026\/06\/29\/stocks-rise-oil-edges-up-as-us-iran-agree-to-halt-attacks\/","title":{"rendered":"Stocks rise, oil edges up as US, Iran agree to halt attacks"},"content":{"rendered":"\n
\"\"<\/figure>\n\n\n\n

Stocks rise, oil edges up as US, Iran agree to halt attacks<\/strong><\/h1>\n\n\n\n

Asian stocks mostly rose, and oil prices edged up on Monday as reports said the United States and Iran had agreed to stop attacking each other following a weekend of strikes that threw their fragile truce into question.<\/p>\n\n\n\n

Investor confidence remains shaky after last week\u2019s rollercoaster ride that saw markets whipsaw on the Middle East crisis and growing concerns about a tech bubble fuelled by the AI boom.<\/p>\n\n\n\n

While there is an expectation that Washington and Tehran will finalise a deal to end their conflict and reopen the Strait of Hormuz, the process has been fraught with tensions between the long-time foes.<\/p>\n\n\n\n

The two have traded strikes in recent days, disrupting shipping through the vital waterway and fanning concerns Iran will shut it down again.<\/p>\n\n\n\n

The US Central Command said on Saturday it had attacked 10 Iranian military targets over \u201ccontinued Iranian aggression against commercial shipping\u201d.<\/p>\n\n\n\n

Iran said it retaliated with strikes against US bases in Kuwait and Bahrain. Both Kuwait and Bahrain denounced the Iranian attacks.<\/p>\n\n\n\n

Tehran has been angered by Oman\u2019s announcement of an alternative route through the strait that hugged the Omani shoreline.<\/p>\n\n\n\n

Iran insists on controlling passage through the vital strait, something it did not enjoy before the war.<\/p>\n\n\n\n

Both countries agreed to stop attacking each other, US media outlets reported late on Sunday, citing senior US officials, and plan to meet in Qatar on Tuesday for more talks.<\/p>\n\n\n\n

US President Donald Trump has repeated past threats of military action if the Iranian strikes continue, saying on Saturday that Iran would \u201cno longer exist\u201d if the United States is \u201cforced\u201d to resume the war.<\/p>\n\n\n\n

Iran\u2019s top diplomat warned on Sunday that any attempt by ships to bypass its preferred route would \u201cincrease tensions\u201d.<\/p>\n\n\n\n

A US official said on Sunday: \u201cTechnical talks are slated to continue\u2026 Both sides will stand down for now and vessels can move freely\u201d in and around the strait.<\/p>\n\n\n\n

Iran\u2019s foreign ministry said on Monday it had held the first meeting with Oman on managing the waterway.<\/p>\n\n\n\n

Oil prices, which fell last week to pre-war levels, rose on Monday.<\/p>\n\n\n\n

Equity markets finished the day mostly in positive territory.<\/p>\n\n\n\n

Tokyo, Hong Kong, Shanghai, Sydney, Singapore, Wellington, Taipei, Manila and Bangkok all rose, though Mumbai and Jakarta slipped.<\/p>\n\n\n\n

London and Paris retreated, but Frankfurt edged up.<\/p>\n\n\n\n

Tech firms were again in the spotlight after leading hefty losses last week, with South Korean chip makers SK hynix and Samsung extending last week\u2019s selling.<\/p>\n\n\n\n

The companies\u2019 losses weighed on Seoul\u2019s Kospi, though they pared big early losses after the government said it would invest nearly $`1.2 trillion \u2014 equivalent to more than two-thirds of its GDP \u2014 in a new chip-building hub and AI data centres over several years.<\/p>\n\n\n\n

Samsung and SK will make a record investment of more than `$500 billion in a new semiconductor fabrication hub in the southwest, officials said as President Lee Jae Myung attended an event to unveil the public-private collaboration.<\/p>\n\n\n\n

The tech sector has been hammered by concerns that valuations have gone too far and questions about when firms will see a return on the trillions of dollars pumped into AI.<\/p>\n\n\n\n

The tech rally has sent Seoul, Tokyo and Wall Street\u2019s three main indexes to record highs this year, with SK hynix soaring 300 per cent in the first six months of the year.<\/p>\n\n\n\n

The Bank for International Settlements \u2014 considered the central bank of central banks \u2014 warned on Sunday of a possible bust following a long-running investment boom by companies looking to keep ahead in the AI race.<\/p>\n\n\n\n

\u201cDisappointment in returns could trigger a sudden pullback in financing and turn the capex boom into a protracted investment bust, with potential knock-on effects on financial conditions,\u201d it said in its annual report.<\/p>\n\n\n\n

It added that \u201ca major equity-market correction could have larger macroeconomic consequences today than in the past\u201d.<\/p>\n\n\n\n

Investors are looking ahead to the release of US jobs data, which could have a bearing on the Federal Reserve\u2019s monetary policy plans.<\/p>\n\n\n\n

The bank has taken a more hawkish turn amid concerns over surging inflation caused by the Iran war.<\/p>\n\n\n\n

\u201cLast month, the strong data triggered a four per cent sell-off on the Nasdaq, its worst single-day decline in over a year, as higher-for-longer fears weighed heavily on the AI trade,\u201d said IG market analyst Fabien Yip.<\/p>\n\n\n\n

\u201cA repeat beat on Thursday could trigger a similar rotation; a miss, by contrast, may dampen hike expectations and lift rates-sensitive equities.\u201d<\/p>\n\n\n\n

Key figures around 0810 GMT include: Seoul \u2013 Kospi: DOWN 0.2 per cent at 8,394.65 (close), Tokyo \u2013 Nikkei 225: UP 0.2 per cent at 69,468.11 (close), Hong Kong \u2013 Hang Seng Index: UP 1.6 per cent at 23,026.68 (close), Shanghai \u2013 Composite: UP 1.2 per cent at 4,073.90 (close).<\/p>\n\n\n\n

Others include, London \u2013 FTSE 100: DOWN 0.1 per cent at 10,496.46, West Texas Intermediate: UP 0.6 per cent at 72.09 a barrel, Euro\/dollar: UP at 1.1388 on Friday, Pound\/dollar: UP at 1.3200, Dollar\/yen: UP at 161.80 yen from 161.75 yen, Euro\/pound: UP at 86.29 pence from 86.28 pence, New York \u2013 Dow: DOWN 0.1 per cent at 51,876.11 (close).<\/p>\n\n\n\n

Source:<\/em> https:\/\/punchng.com\/stocks-rise-oil-edges-up-as-us-iran-agree-to-halt-attacks\/<\/em><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stocks rise, oil edges up as US, Iran agree to halt attacks Asian stocks mostly rose, and oil prices edged up on Monday as reports said the United States and Iran had agreed to stop attacking each other following a weekend of strikes that threw their fragile truce into question. Investor confidence remains shaky after… <\/p>\n

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