A woman walks near a stock quotation board showing the Nikkei share average outside a brokerage in Tokyo on Monday. (Photo: Reuters)
SINGAPORE - Asian stocks inched up on Tuesday after rallying on the previous session on news of a peace deal between Iran and the United States, as investors turned their focus to several central bank decisions including an expected rate hike from the Bank of Japan.Early trading in the region followed a familiar pattern, with markets settling into a more measured tone on Gulf developments as the initial excitement over the preliminary agreement between Washington and Tehran began to fade.
Oil prices, which settled at a three-month low overnight, reflected the cautious stance, with Brent crude futures up 51 cents, or 0.6%, at $83.74 a barrel. Shippers in Asia and Europe said rebuilding confidence in resuming transit through the Strait of Hormuz could take weeks.
MSCI's broadest index of Asia-Pacific shares outside Japan added 0.2%, with Korean shares leading gains. Japan's Nikkei 225 was down 0.2%, retreating from a record high as S&P 500 e-mini futures slipped 0.1%.
While US President Donald Trump's announcement of a deal with Iran drew initial investor relief on Monday, it also puts Washington on a collision course with Israel.
