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June 22, 2026 - 03:52
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(Bloomberg) — Asian stocks rallied while oil erased early gains as the US and Iran agreed upon a roadmap toward reaching a final peace deal within 60 days, with talks expected to continue for the rest of this week.A rally in technology shares helped the MSCI Asia Pacific Index rise more than 1%. US equity futures pared early declines, while Brent crude fell 1.5% to trade below $80 a barrel after climbing more than 2%. Gold jumped while Treasuries dropped as cash trading resumed after Friday’s US holiday.Iran and the US made “good progress” in discussions on the permits necessary for Tehran’s oil sales and the unfreezing of its assets, Foreign Ministry Spokesman Esmail Baghaei told Iranian state TV in an interview. The first session of the high-level talks have concluded in Switzerland, according to a joint statement by Qatar and Pakistan posted on X.The developments came after things got off to a confusing start Sunday, when local media reported that Iran halted the talks after US President Donald Trump once again threatened strikes if Hezbollah keeps attacking Israel.“The market sees the Iran agreement as fragile but not fragile enough to trigger an aggressive repricing of geopolitical risks at this stage,” Dilin Wu, a strategist at Pepperstone Group, said on Bloomberg Television.Tech-heavy markets of Taiwan and South Korea were the top performers in Asia on Monday. A subgauge of regional technology shares surged nearly 3%.In Seoul, shares of companies part of the LG Group rallied following a report that executives from the firms will visit Nvidia headquarters on Monday to discuss cooperation in physical AI and robotics. LG Electronics Inc.’s stock soared over 12%.Meanwhile, the yield on 10-year Treasuries rose. Bond traders, recently forced to reposition for the possibility of higher interest rates ahead, are looking to this week’s personal spending data for an early read on whether the market’s newly hawkish stance is warranted.A gauge of the dollar advanced 0.1%, adding to last week’s gains. The pound weakened on speculation around Keir Starmer’s future as the UK prime minister.Some of the main moves in markets:StocksS&P 500 futures fell 0.2% as of 10:48 a.m. Tokyo time Japan’s Topix rose 1.2% Australia’s S&P/ASX 200 rose 0.1% Hong Kong’s Hang Seng fell 1.8% The Shanghai Composite rose 0.2% Euro Stoxx 50 futures fell 0.2% CurrenciesThe Bloomberg Dollar Spot Index was little changed The euro was little changed at $1.1469 The Japanese yen fell 0.1% to 161.49 per dollar The offshore yuan rose 0.1% to 6.7741 per dollar The Australian dollar was little changed at $0.7015 CryptocurrenciesBitcoin rose 1.1% to $64,473.84 Ether rose 1.4% to $1,743.34 BondsThe yield on 10-year Treasuries advanced two basis points to 4.48% Japan’s 10-year yield advanced 1.5 basis points to 2.660% Australia’s 10-year yield was little changed at 4.81% CommoditiesWest Texas Intermediate crude fell 0.4% to $75.53 a barrel Spot gold rose 1% to $4,197.76 an ounce This story was produced with the assistance of Bloomberg Automation.©2026 Bloomberg L.P.
