Overview
- Asian stocks rose Friday, tracking Wall Street’s advance, as U.S. and Iranian delegations prepare to meet in Islamabad on Saturday for ceasefire talks.
- The two-week pause lifted risk appetite earlier in the week, yet Israeli strikes in Lebanon and Tehran’s control claims over the Strait of Hormuz kept oil volatile near $96–$99 a barrel.
- Indian benchmarks swung hard, with the Sensex dropping 931 points Thursday on renewed tensions before rebounding Friday as the Nifty approached 24,000 on domestic buying and TCS results.
- The Strait of Hormuz, which carries about one-fifth of global oil, remains largely closed with traffic far below normal and hundreds of ships queued on both sides of the waterway.
- Talks are set to be led by U.S. Vice President JD Vance, and even a breakthrough would not quickly restore normal flows, as the IEA says dozens of damaged energy sites will take time to repair.