Hope Over Talks Is Causing Stocks to Erase War Losses – Asia Market Wrap

Stocks are rising on hope over fresh US-Iran talks, with a number of major markets erasing declines since the Middle East war began.

China’s CSI 300 Index became the third gauge to recoup losses since the crisis began in late February, following Taiwan and Singapore.

Wall Street benchmarks have already recaptured those levels, with the S&P 500 approaching its record high established in late January. Optimism that the US and Iran will resume discussions is also helping to maintain oil prices below $100 per barrel.

Copper progressed to recoup losses incurred since the Middle East conflict began more than six weeks ago. The MSCI All Country World Index advanced 0.2% on Wednesday, extending its winning streak to nine sessions, the longest since September. Equity-index futures suggested a slow start for European stocks.

Elsewhere, gold fell to around $4,825 an ounce. Treasuries kept their gains as lower oil prices reduced inflationary pressures, while the Dollar index was little changed after seven days of losses.