Global equity markets on Thursday gained on hopes of the war winding down as Israel and Lebanon meet in Washington today, while the United States and Iran plan their next round of peace talks.
Dow Futures and S&P Futures were trading in marginally higher territory, with gains of 0.09 percent and 0.17 percent, respectively, according to Bloomberg TV, as of 2:00 ET on April 16.
This was in line with the stable performance of the Dow and S&P 500. While the former ended just 0.15 percent lower, or 72 points, the latter rose 0.8 percent, or 55 points.
On the other hand, Asian markets were trading in green territory. Japan’s Nikkei was up by 2.4 percent, or 1,440 points, while South Korea’s Kospi jumped over 1.9 percent. Hong Kong’s Hang Seng also showed strong growth of 380 points, or about 1.4 percent.
On the domestic front, India’s Sensex and Nifty remained stable with a modest rise of 0.4 percent each.
Most Asian markets have recovered from the heavy losses suffered at the peak of the war.
The optimism was reflected in the 0.3 percent rise of the MSCI All Country World Index, the broadest measure of global shares. The index is headed for a 10th consecutive day of gains.
US President Donald Trump has said the war was “close to over” even as the US blockade of the Strait of Hormuz continued. The two-week ceasefire agreed upon by the two nations is set to end on April 22, prompting them to return to the negotiating table to at least extend the halt on hostilities while broader discussions continue.
Despite progress on the diplomatic front, the shortage of the commodity has kept the market concerned.
While the US and Iran are preparing for a second round of talks, discussions between Israel and Lebanon are expected to influence developments in Islamabad.
