Markets in Asia rallied Monday as oil prices tumbled 4% on hopeful signs of U.S.-Iran ceasefire talks, lifting U.S. futures and global crude benchmarks. Japan’s Nikkei, South Korea’s Kospi, Hong Kong’s Hang Seng, and Australia’s S&P/ASX 200 all gained, while Taiwan’s Taiex dipped slightly. Meanwhile, U.S. indexes showed muted moves — the S&P 500 barely edged up, the Dow rose 0.5%, but the Nasdaq fell 0.6% amid tech sell-offs. Inflation remains stubborn, fueled by energy costs and new U.S. tariffs, leaving the Fed with no room for rate cuts — some even whispering about a hike. Investors are also eyeing tech earnings, questioning whether AI spending will translate into real profits to justify soaring valuations.
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