Asian Stocks Gain on Iran Peace Hopes and Strong Earnings
Asian markets rose Thursday on optimism for a U.S. and Iran peace deal. Strong bank earnings and anticipation for TSMC results further supported the gains.
Asia-Pacific equity markets climbed on Thursday as investors reacted to potential progress in diplomatic negotiations and a strong start to the corporate earnings season. The MSCI broadest index of Asia-Pacific shares outside Japan advanced 0.3%, marking its third consecutive day of gains, while the Nikkei index rose 1.5%.
This positive momentum followed a record-breaking session in the United States, where the S&P 500 and Nasdaq Composite gained 0.8% and 1.6%, respectively. The rally was supported by better-than-expected results from major financial institutions, including BANK OF AMERICA CORP and MORGAN STANLEY.
