US-Iran Peace Talks, Asian Markets Rise

Asian stock markets are trading mostly higher, following positive cues from Wall Street, driven by optimism surrounding a potential peace deal between the United States and Iran. Reports suggest a tentative 60-day ceasefire extension deal and resumed negotiations over Iran's nuclear program, with the US President Donald Trump yet to give final approval. The possible resumption of unrestricted shipments through the Strait of Hormuz is easing global inflationary concerns and lowering energy prices, despite the Strait of Hormuz being effectively closed for 84 days. The blockade has halted a third of the world's fertilizer supply, raising concerns about a global food price crisis. Meanwhile, the Australian and Japanese stock markets are performing strongly, with various sectors showing gains. Economic data from Japan indicates positive trends in retail sales, industrial production, and unemployment. Crude oil prices have fluctuated, generally easing due to the peace talks. Some individual companies like Guzman y Gomez and Tourism Holdings also saw significant stock movements due to specific corporate actions.