Banco Bao Sheng: U.S.-Iran Agreement Positively Boosts Asian Stock Markets

According to a report by Odaily, Richard Tang, an analyst at Bank of Singapore Group, pointed out that the U.S.-Iran peace agreement is highly beneficial for Asian stock markets. As most Asian economies are net oil importers, the reopening of the Strait of Hormuz will bring significant positive impacts.

Tang added that if a potential drop in oil prices leads to fewer interest rate hikes, this event could "add momentum to AI stocks and even the broader tech sector." Markets with a high proportion of tech stocks in Asia, such as South Korea and Japan, saw substantial gains early Monday. Meanwhile, Tang stated that as concerns over oil prices may ease and other driving factors gradually improve, the Indian market could see a rebound. (Jin Shi)