Asian stocks rose sharply on Monday as markets cheered the U.S. and Iran agreeing to a preliminary peace deal, with Japanese shares hitting record highs before a Bank of Japan meeting this week.
U.S. consumer sentiment bounced off record lows in early June as easing gasoline prices offered households some relief, though concerns about inflation stoked by the Middle East conflict lingered.
Oil prices slipped to a three-month low on Monday after U.S. President Donald Trump and Iran’s deputy foreign minister said they had reached an initial deal to end the war and to resume traffic through the Strait of Hormuz.
U.S. President Donald Trump said Sunday that Washington had reached a peace deal with Iran to immediately cease hostilities and reopen the Strait of Hormuz.
Malaysia's retail sales grew 3.7% in the first three months of the year compared to the same period in 2025, according to Retail Group Malaysia.
The Bank of Japan is set to raise interest rates to a 31-year high next week and signal its readiness to keep pushing up borrowing costs, undeterred by the absence of its governor as it focuses on countering inflation risks from the Middle East war.