On November 2, 2016, a foreign exchange trader works in the foreign exchange dealing room of KEB Hana Bank’s main branch in Seoul, South Korea. Japan’s Nikkei 225 index fell 1.8% to 17,118.29 as the yen strengthened against the dollar. Hong Kong’s Hang Seng fell 1.4% to 22,819.92, and South Korea’s Kospi fell 1.4% to 1,979.13. Australia’s S&P ASX/200 fell 1.2% to 5,229.00 and the Shanghai Composite fell 0.5% to 3,106.66. Stock prices also fell in Southeast Asia and Taiwan. (Photo provided by Ryu Seung Il/NurPhoto via Getty Images)
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Japanese Nikkei Stock Average Oil prices topped $64,000 for the first time on Monday, hitting a record high in holiday-shallow Asian trading, as oil prices fell and investor sentiment rose on reports that the crucial Strait of Hormuz may reopen soon.
President Donald Trump said in a post on Truth Social that negotiations with Iran are “proceeding in an orderly and constructive manner,” adding that he told delegates “not to rush into a deal because time is on (their) side.”
Oil prices fell more than 5% following Trump’s comments, reducing pressure on investors. Prices had soared after the Trump administration blocked Iranian ports and Tehran effectively shut down the Strait of Hormuz, one of the world’s most important energy waterways.
of West Texas Intermediate Futures July prices were down 4.52% at $92.23 per barrel in early Asian trading. brent crude oil futures In July, the price fell 4.51% to $98.87 per barrel.
Japan’s Nikkei Stock Average rose 1.48% to a record high of 64,278.49, while the TOPIX rose 0.65%.
australian S&P/ASX 200 It was flat.
Markets in Hong Kong and South Korea are closed for public holidays. U.S. markets will also be closed on Monday for Memorial Day.
