ASX 200 gains 1% as US delays Iran strike
The S&P/ASX 200 index advanced 1% on Tuesday as geopolitical tensions eased following reports that the U.S. postponed military action against Iran. Investors are now shifting focus to the Reserve Bank of Australia's policy meeting minutes for insights into future interest rate decisions.
Australia stocks rose 1% to 8,594 on the morning of May 19 after the United States postponed military action against Iran. The gain recovered most of the 1.5% loss from the previous day and marked the largest advance since May 6. Easing Middle East tensions lowered energy prices.
United States President Donald Trump said a nuclear agreement with Iran is possible after delaying a planned strike. The decision allowed negotiations to continue. Crude prices fell over 2% following the announcement.
