<\/p>\n
Global equities climbed to a new all-time high as investors piled back into stocks on signs the US and Iran may extend a ceasefire, helping markets unwind war-driven risk premiums.<\/p>\n
The MSCI All Country World Index \u2014 the broadest measure of global shares \u2014 rose as much as 0.3% to a record, and headed for a 10th day of gains. That\u2019s the longest winning streak since September. Asian shares rose 1.3% to almost erase their war-driven losses, as optimism over a potential US-Iran ceasefire and robust US corporate earnings boosted sentiment.<\/p>\n
Asian stocks rallied after Wall Street gauges also closed at record highs with traders betting a de-escalation of the Middle East conflict will push down oil prices and boost economic growth. Equity-index futures indicated the rally will extend in Europe.<\/p>\n
Helping sentiment, global crude benchmark Brent held around $95 a barrel, well below last month\u2019s peak of nearly $120. As Middle East tensions cooled, the dollar \u2014 which emerged as the haven of choice during the conflict \u2014 weakened, with the Bloomberg Dollar Spot Index set for a ninth day of declines, its longest losing streak since December 2006.<\/p>\n<\/p>\n
The MSCI All Country index, which had dropped as much as 9% from the start of the war through to its low on March 30, erased all those declines on expectations the US and Iran will eventually reach a peace deal. Renewed enthusiasm for technology stocks has also helped drive the reversal from last month\u2019s selloff, which pushed several gauges into technical correction.<\/p>\n
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\u201cTraders across Asia are clinging tightly to the hope that a new round of US-Iran peace talks will materialize in the coming days,\u201d said Tim Waterer, chief market analyst at KCM Trade. \u201cThe sight of oil trading at sub-$100 levels and hopes of a diplomatic breakthrough are combining to breathe life back into equities.\u201d<\/p>\n
The US and Iran are considering extending their ceasefire that ends on Tuesday by another two weeks to allow more time to negotiate a peace agreement, according to a person familiar with the matter.<\/p>\n
Mediators between the two sides are trying to set up technical talks to resolve the most contentious issues, said the person, who asked not to be named, discussing sensitive matters. Those include reopening the Strait of Hormuz and Iran\u2019s nuclear enrichment.<\/p>\n
What Bloomberg Strategists Say\u2026<\/p>\n
\u201cThe major equity indexes across Asia are enjoying another buoyant session with investors switching focus back to the earnings power of major companies, as the war in Iran moves into the background. Moreover, the friction between short-term inflation pressures and medium-term economic growth risks is keeping bond yield curves in a holding pattern, which is another positive input into stocks.\u201d<\/p>\n
\u2014 Mark Cranfield, MLIV.<\/p>\n
Elsewhere, gold rose 0.6% to about $4,820 an ounce, while silver jumped 1.5% to about $80 an ounce. Treasuries advanced, with the benchmark 10-year yield falling one basis point to 4.27% as lower oil prices eased concern about quicker inflation.<\/p>\n
The Australian dollar rose to the highest since June 2022 amid broad weakness in the greenback. The yen strengthened after Japan\u2019s top currency official Atsushi Mimura said Japan and the US confirmed they would work on foreign exchange. Shares in China held gains after a report showed economic growth rebounded more than expected in the first quarter.<\/p>\n
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\u201cMarkets are just returning back to pre-war flows and positioning as market has looked past the war and moved on from conflict despite not being resolved,\u201d said Matthew Haupt, a portfolio manager at Wilson Asset Management. \u201cFrom here we need new news for direction to go higher as this systematic buying is largely done.\u201d<\/p>\n
The prospect of renewed negotiations has helped sustain a broader risk-on tone across markets. Emerging-market stocks extended gains with the MSCI Emerging Markets Index climbing 1% on Thursday.<\/p>\n
Benchmarks in Singapore and Taiwan, China\u2019s CSI 300 Index as well as the MSCI Latin America Index, have all reversed losses that came after the US and Israel attacked Iran. Also, Taiwan overtook the UK in stock market value as the island\u2019s tech firms regained favor.<\/p>\n
History of geopolitical crises shows that crises \u201cturn out to be great buying opportunities,\u201d said Ed Yardeni or Yardeni Research. \u201cThat\u2019s the situation we are in right now.\u201d<\/p>\n
Corporate News:<\/p>\n
The Trump administration wants automakers and other American manufacturers to play a larger role in weapons production. Senior defense officials have held talks about producing weapons and other military supplies with the top executives of companies, including General Motors and Ford, the Wall Street Journal reported.
\nFour of the six largest US banks reduced their headcount during the first three months of the year, with Wells Fargo & Co leading the way with more than 4 000 cuts, while JPMorgan Chase & Co and Morgan Stanley added staff.
\nContemporary Amperex Technology Co. is planning to expand its footprint in critical minerals and strengthen supply-chain security.<\/p>\n
S&P 500 futures rose 0.1% as of 2:01 p.m. Tokyo time
\nNikkei 225 futures (OSE) rose 2%
\nJapan\u2019s Topix rose 1.1%
\nAustralia\u2019s S&P\/ASX 200 fell 0.4%
\nHong Kong\u2019s Hang Seng rose 1.3%
\nThe Shanghai Composite rose 0.5%
\nEuro Stoxx 50 futures rose 0.2%<\/p>\n
Currencies<\/p>\n
The Bloomberg Dollar Spot Index was little changed
\nThe euro was little changed at $1.1809
\nThe Japanese yen rose 0.2% to 158.73 per dollar
\nThe offshore yuan was little changed at 6.8153 per dollar<\/p>\n
Cryptocurrencies<\/p>\n
Bitcoin was little changed at $74 926.9
\nEther fell 0.4% to $2,352.85<\/p>\n
Bonds<\/p>\n
The yield on 10-year Treasuries declined one basis point to 4.27%
\nJapan\u2019s 10-year yield was little changed at 2.410%
\nAustralia\u2019s 10-year yield advanced three basis points to 4.96%<\/p>\n
Commodities<\/p>\n
West Texas Intermediate crude rose 0.5% to $91.77 a barrel
\nSpot gold rose 0.9% to $4,833.48 an ounce<\/p>\n
This story was produced with the assistance of Bloomberg Automation.<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Global #stocks #hit #record #Iran #bets #dollar #ebbs #Markets #wrap<\/p>\n","protected":false},"excerpt":{"rendered":"
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